Bank of Maldives (BML) has disclosed that it facilitates an average daily disbursement of $2.7 million in foreign currency. Speaking at the “Iqdhisadhu Hamamagah” (Economy on Track) panel discussion, the bank’s Head of Brand and Marketing Strategy, Mohamed Saeed, emphasized that despite shifting global dynamics, BML remains committed to prioritizing the foreign exchange requirements of both individuals and businesses. Accordingly, the bank has sold $570 million at the official exchange rate so far this year, while providing an additional $270 million in financing and loans.
Bank statistics also indicate a substantial rise in USD withdrawals through ATMs. Currently, an average of $1.2 million is withdrawn daily, with total ATM withdrawals reaching $188 million over the past six months. Furthermore, expenditures related to Telegraphic Transfers (TTs) and card-based transactions have seen significant growth compared to the previous year. Specifically, card transaction volume has increased by 29%, while outward international remittances have risen by 20%. BML highlighted these efforts as a vital part of its role in sustaining the foreign currency needs of the Maldivian economy.
