The Bank of Maldives (BML) has expanded its ATM network to cover every inhabited island in Haa Alifu Atoll, with new installations on seven islands: Utheemu, Thuraakunu, Uligan, Mulhadhoo, Maarandhoo, Thakandhoo, and Muraidhoo. The installations align with President Dr Mohamed Muizzu’s pledge to making essential banking services more accessible to citizens throughout the country.
The new ATM services were officially launched on March 24, 2025, during island ceremonies attended by key figures including the Minister of Tourism and Environment Mr. Thoriq Ibrahim, Minister of Economic Development and Trade Mr. Mohamed Saeed, and senior leadership from BML including CEO and Managing Director Mr. Mohamed Shareef, Chairperson, and Chief Business Officer.
Speaking at the event in Maarandhoo, BML CEO Mr. Mohamed Shareef noted that the bank’s “Mulhi Raajje ah BML ATM” project has made significant strides in connecting remote communities with reliable banking services. “This is a major step forward for individuals and businesses in Haa Alifu Atoll,” Shareef said. “They now have round-the-clock access to banking services on their own islands, which will support financial inclusion and local economic growth.”
BML currently operates 165 ATMs and 107 Self-Service Banking Centres across the country. With 39 branches covering all 20 atolls, the bank also provides a broad range of digital and agent banking services. The current initiative is part of a national plan to establish ATMs on every inhabited island by the end of 2025, a target first introduced under President Muizzu’s administration in November 2024.
Minister of Economic Development and Trade Mr. Mohamed Saeed praised the efforts of both the government and BML, stating that easier access to financial services would not only enhance the daily lives of residents but also contribute to broader economic development. “This step brings direct benefits to families and businesses alike and will relieve people from having to travel long distances for basic banking needs,” he said.
Minister of Tourism and Environment Mr. Thoriq Ibrahim also highlighted the importance of this infrastructure in bolstering local businesses and enhancing the tourism experience in the northern atolls of Haa Alifu, Haa Dhaalu, and Shaviyani.
According to BML, the newly installed ATMs offer a full range of services, including cash withdrawals, deposits, transfers, and payments, all available 24/7. CEO Shareef emphasized that while the bank continues expanding physical infrastructure, parallel efforts are underway to strengthen its digital banking services, reducing the need for branch-based transactions and increasing accessibility for all Maldivians.
Following a visit by President Dr. Muizzu to several islands in Haa Alifu Atoll in late January 2025, the ATM installations were expedited, with the goal of addressing the banking challenges residents previously faced. In less than two months, the promise made during those visits has been fulfilled, reflecting the administration’s push toward timely service delivery and financial decentralization.
Currently, BML has ATM services on 90 islands, with installations on 17 more islands set to be completed by the end of March. Haa Alifu is now the second atoll in the Maldives where all inhabited islands have direct access to ATM services, marking a significant milestone in the country’s path toward universal banking accessibility.
BML’s long-term goal includes the deployment of over 250 ATMs by the end of 2025, reinforcing its role in supporting the nation’s financial infrastructure and economic development through consistent, community-focused service expansion.
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