BML launches 'Masveriyaa' portal for fishermen

Bank of Maldives (BML) has launched the 'Masveriyaa' portal, a digital platform aimed at providing fishermen with tailored access to financing. 

At the official Fishermen's Day ceremony held in R. Dhuvaafaru yesterday, the portal was officially inaugurated by Minister of Transport and Civil Aviation Mohamed Ameen.

According to the bank, those registered on the National Fishermen's Registry can apply for Islamic financing products through the Masveriyaa portal. Financing services offered cover:

Speaking at the ceremony, BML CEL and Managing Director Mohamed Shareef stated, "Earlier this year, we partnered with the Ministry of Fisheries and Ocean Resources to facilitate easy access to finance for our fishermen".

“The launch of the Masveriyaa portal marks a pivotal step in this journey, underscoring our commitment to supporting the fishing community with modern, accessible financial solutions. We are dedicated to fostering financial inclusion for all sectors of our society.”

BML stated that it will be introducing card services as well through the Masveriyaa portal in the near future.

BML further stated that establishment of this portal further enhances the bank's ongoing support to fishermen, including the commitment to process fishermen's payments within 48 hours. 

Previously, BML introduced a financing facility of up to MVR 300,000 for fishermen, which needs no collateral or equity. This facility comes with repayment schedules structured around seasonal income fluctuations. 

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