Financial Sector

The viability of crowdfunding

4 min read
The concept of crowdfunding has been around for ages yet never given the full distinction it deserved until the past few decades. During and after the industrial revolution, most businesses...

SME financing in the Maldives

6 min read
Almost 90 percent of the 8,000 businesses registered to pay taxes in the Maldives are Small, and Medium-sized Enterprises (SMEs). SMEs are important in that their contribution to employment and GDP...

The messy situation of debt

5 min read
Ibrahim, the owner of a guesthouse in the local island of Maafushi was forced to rely on a MVR200,000 COVID-relief loan from the SME Development Finance Corporation (SDFC) in 2020...

SDFC: The backbone of SMEs

5 min read
The development of MSMEs is pivotal in creating a resilient and diverse economy while generating employment opportunities in the outer islands. The industry has been long neglected during the past...

The BML Mobile app: A welcome refresh

3 min read
With the pandemic necessitating more interactions, and transactions, online, the Bank of Maldives’ refresh of its mobile banking app is seen by many as a welcome change. Even with services...

Financial Technology

6 min read
Former United States Secretary of the Treasury, Larry Summers said “the people who confidently reject all the innovation here in blockchain-based payment and monetary systems are on the wrong side...

The cryptocurrency primer

3 min read
This month as we focus on the prospects of a 'Digital Maldives' MFR will feature a series of articles on cryptocurrencies; this week the paper concentrates on outlining a basic...

The insurance industry is primed for growth

7 min read
On 19 November 2020, President Ibrahim Mohamed Solih inaugurated the Maldives' first ‘beach front airport’ in HA. Hoarafushi. However, just six months later, on 14 May 2021, disaster struck -...