The Ministry of Fisheries and Ocean Resources has announced that Bank of Maldives (BML) has issued loans to 89 individuals currently registered in the official fishermen’s registry. This initiative is part of the government’s strategic efforts to ensure formal recognition of fishermen and to facilitate seamless access to banking and financial services for them.
Since the commencement of this credit facility in May last year, a specialized digital platform titled the “Masveriya Portal” was established to streamline the application process. Under this framework, fishermen can access unsecured financing of up to MVR 300,000 for various purposes, including housing construction, education, and vessel building. The primary objective of this program is to foster the advancement of the fisheries industry and to socially and economically empower the fishing community.
