Bank of Maldives (BML) has launched the “Masveriyaa” portal, a digital platform designed to provide the nation’s fishermen with convenient and tailored access to financing services. The portal was officially inaugurated by Minister of Transport and Civil Aviation Mohamed Ameen at a special ceremony in Dhuvaafaru commemorating Fishermen's Day.
The Masveriyaa portal offers a full range of Islamic personal financing products to support the livelihoods and aspirations of the fishing community. Eligible fishermen registered with the National Fishermen’s Registry can seamlessly apply for Islamic financing products through the user-friendly platform for:
- home purchase
- home construction
- higher education
- vessel building and repair
- guesthouse
- Lui financing for any other purpose, including the purchase of fishing gear or equipment
BML CEO and Managing Director Mohamed Shareef stated that the launch of the Masveriyaa portal marks a pivotal step in the Bank's journey to provide better financing to fishermen, underscoring its commitment to supporting the fishing community with modern, accessible financial solutions.
The Masveriyaa portal represents a significant enhancement of BML’s ongoing support for Maldivian fishermen. This includes a commitment, in place since December 2024, to process fishermen's payments within 48 hours. The Bank has also introduced a dedicated financing facility of up to MVR 300,000 for fishermen, without any requirement for collateral or equity. This financing facility features repayment schedules uniquely structured to align with fishermen's seasonal income fluctuations, ensuring repayment schedules are tailored to their cash flow.
The Bank has also announced plans to introduce its card services through the Masveriyaa portal in the near future.
