Financial Sector

The Maldives' financial sector

3 min read
As with other economies, the Maldives' economy requires an efficient financial system that moves funds from those people who save, to those who have productive investments opportunities. In order to...

Maldives' Sukuk reaches USD500 million

4 min read
On 2 September 2021, the Government of Maldives issued another USD200 million Sukuk, or Islamic bond, in addition to the USD300 million issued in March (USD200 million) and April (USD100...

Ensuring an enabling SME environment

3 min read
The SME Development Finance Corporation (SDFC) holds heavy ground in strengthening the Maldives' entire SME industry. Even though the policies of SDFC is steered towards reaching out to as many...

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...

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...

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...