Bank of Maldives (BML) has officially launched “Liveaboard Finance,” a dedicated financing facility specifically designed for the Maldives’ safari and liveaboard sector. This facility provides financial support for the acquisition, construction, and renovation of vessels, as well as for the procurement of engines and other essential equipment. Offered at a competitive interest rate of 9.5% per annum, the loan requires only the financed vessel itself as collateral.
The facility features a repayment period of up to 7 years, with a flexible repayment structure in US Dollars that accounts for the industry’s seasonal fluctuations, categorized into peak and off-peak periods. Speaking on the launch, BML CEO Mohamed Shareef highlighted that this initiative offers significant relief and opportunities for liveaboard operators to expand their businesses. This facility is expected to streamline access to essential financial assistance for both existing operators and new entrants in the industry.
