Bank of Maldives (BML) has enhanced the payout structure of its recently introduced “Investments” service, confirming that both invested funds and the returns generated through its US Dollar investment pools will now be credited directly in US Dollars.
The updated arrangement provides customers with greater access to returns in foreign currency while further strengthening the product’s appeal as a regulated investment opportunity. BML’s investment service allows customers holding US Dollars to participate in dedicated daily investment pools offering different rates of return, with selected pools providing yields of up to 25 percent.
Launched on 30 June 2026, the investment product was developed to mobilise foreign currency held by the public while supporting the bank’s ability to meet growing demand for international card payments, overseas services, e-commerce transactions and other essential foreign-currency requirements. The service is accessible through the BML Mobile App and Internet Banking, enabling eligible customers to review available investment pools and complete the investment process digitally.
Under the original payout structure, customers depositing US Dollars into an investment pool received the equivalent value of their principal immediately in Maldivian Rufiyaa. The profit generated through the investment was subsequently credited to the customer’s Rufiyaa account on the following day.
BML has now revised this arrangement so that customers receive both the invested amount and the corresponding profit in US Dollars. The change offers investors the benefit of receiving their returns in the currency initially invested and provides greater flexibility in managing their foreign-currency earnings. The bank has clarified, however, that when an investment reaches full maturity, the original principal amount must be converted into Maldivian Rufiyaa at the official exchange rate.
The returns offered through the investment pools are generated through BML’s foreign-exchange and fee-generating commercial operations. The bank has imposed a 30 percent transaction fee since last year on purchases conducted through selected international e-commerce platforms. After deducting a five percent margin to cover administrative and operational expenses, income generated through these transactions is used to provide returns to participating investors.
This structure creates a mutually beneficial financial model by providing returns to customers who invest their US Dollars while enabling the bank to secure additional foreign-currency liquidity. The funds can subsequently support services relied upon by a broad section of the public, including international debit and credit card transactions, online purchases, overseas subscriptions and other foreign payments.
The product has been introduced amid significant growth in demand for foreign currency across the Maldives. According to BML, the volume of US Dollars sold for international debit and credit card transactions linked to overseas purchases and services has increased 3.7 times over the past five years.
The bank currently sells an average of USD 39.3 million each month to facilitate international card transactions and meet demand for foreign services and e-commerce purchases. During the same five-year period, the number of customers using BML cards for international transactions has more than doubled, highlighting the rapid expansion of digital commerce and cross-border payment activity among Maldivian consumers.
The continued growth in international card usage reflects the increasing integration of Maldivian customers and businesses into the global digital economy. Improved access to international marketplaces, digital services, telecommunications and modern payment platforms has substantially increased demand for reliable and sustainable foreign-currency banking facilities.
By attracting US Dollar investments through formal banking channels, the scheme supports the circulation of foreign currency within the domestic financial system and enables BML to maintain important services without unnecessarily restricting customer access. The revised USD payout arrangement is expected to further encourage participation from customers who earn or hold foreign currency and are seeking regulated opportunities to generate returns.
The initiative also complements the Government’s broader economic policies aimed at strengthening the country’s financial foundations, improving foreign-currency circulation through the banking system and supporting long-term economic stability. Expanding innovative digital financial services and promoting greater participation in regulated financial products remain important elements of efforts to develop a more resilient and inclusive financial sector.
As the Maldives continues to advance its digital economy and strengthen its formal foreign-exchange framework, BML’s enhanced investment service represents an important financial offering that benefits investors while contributing to the sustainability of essential banking and international payment services.
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