President Dr. Mohamed Muizzu has announced the decision to introduce an Equity Finance Loan Scheme later this year, aimed at providing a specific portion of the bank equity required for housing construction loans as a grant. Under this scheme, the government will provide a 5% equity contribution as a grant. Furthermore, noting that Bank of Maldives (BML) currently facilitates loans with a reduced equity requirement of 5%, the President assured that these government-led initiatives would guarantee housing security for a significant majority of the population by mid-2028.
