Bank of Maldives customers, including businesses and expatriates, can open INR accounts online through Internet or Mobile Banking from 1 August 2025.
BML
Bank of Maldives (BML) is pleased to announce the launch of Indian Rupee (INR) accounts for the firsttime in the Maldives, marking a significant step forward in enhancing trade and financial cooperation between the Maldives and India.
We are delighted to announce the introduction of INR accounts at Bank of Maldives which will open new avenues for our customers in facilitating trade, managing remittances and broadening investment opportunities. We recognize the evolving needs of both our personal and corporate customers and continue to set standards in the bankin industry in the country. In October 2024, we announced the acceptance of RuPay International cards in Maldives and today, I am pleased to report we are working with National Payments Corporation of India (NPCI) to begin acceptance of RuPay local cards as well as issuance of RuPay cards for BML customers with INR accounts. We anticipate completing the process by year end which will allow personal and business INR account holders to make cross border transactions in INR.
Bank of Maldives customers, including businesses and expatriates, can open INR accounts online through Internet or Mobile Banking from 1 August 2025. Deposits into INR accounts will be accepted in denominations of INR 500 and above at BML branches, and inward remittances from India can be deposited directly into INR accounts. Likewise, the INR accounts can be used for outward remittances.
With an extensive network comprising 40 branches across all 20 atolls, 133 Self Service Banking Centres, 188 ATMs, comprehensive Agent Banking Services, and advanced Digital Banking solutions, BML is the leading financial institute in the Maldives. Alongside its growing network of physical access points, the Bank continues to invest in digital channels and partner services to meet the evolving needs of its customers.
