Bank of Maldives
This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these messages)
|
File:BML Logo 2010.svg | |
Company type | Public |
---|---|
Industry | Financial services |
Founded | Malé, Maldives (1982) |
Headquarters | Malé, Malé , Republic of Maldives |
Key people | Tim Sawyer (CEO and Managing Director), |
Revenue | MVR 2.7 billion (2020) |
MVR 1.6 billion (2020) | |
MVR 3.2 million (2020) | |
Total assets | MVR 31.4 billion (2020) |
Number of employees | 950 (2020) |
Website | www.bankofmaldives.com.mv |
Bank of Maldives Plc (BML) is the leading financial institution in Maldives inaugurated on November 11, 1982. They are a full-service bank engaging across the complete spectrum of personal, business and corporate financial services with 260,000 customers. Bank of Maldives has an extensive network of branches, agents, relationship managers and online banking facilities.
History
Bank of Maldives was inaugurated on November 11, 1982 and began commercial operation as a joint venture bank with 60% shares held by the Government of the Maldives (including its Agencies and Maldivian Companies) and 40% shares owned by International Finance Investment Company Limited (later IFIC Bank Limited), Dhaka, Bangladesh. In December 1992, the Government decided to sell the Bank's shares to the general public. With this decision, Bank of Maldives became a public company on January 1, 1993.
Financial inclusion
Today the bank is present in every inhabited island through a branch, outlet, self-service banking ATM or an agent service. Bank of Maldives currently have nationwide network of 38 branches across all 20 atolls. The bank has 50 Self-Service Banking Centers, 115 ATMs, 277 agents and a full suite of Digital Banking services.
Bank of Maldives (BML) recently opened their second business centre in the Greater Male’ Region at Renaatus Ithaa Muiy, Hulhumalé as a part of the bank’s continuing support for businesses in 2019.
Dedicated Relationship Managers at the Business Centre will provide support for SMEs on a range of business banking and advisory services including applications for accounts, loans, credit facilities and merchant services including POS and Payment Gateway.
Customer service
Services for personal customers include Accounts, Loans, Credit Cards, Debit Cards, Internet Banking, and Mobile Banking through a nationwide network. Services for businesses include Accounts, Loans, Card Acquiring, Trade Services, Treasury Solutions, Payment Gateway, and E-Banking Solutions, all supported by Dedicated Relationship Managers and Product Specialists.
Islamic banking
Bank of Maldives launched Islamic banking services under the name "BML Islamic" on 22 January 2015.
Bank of Maldives continues to introduce Shari’ah compliant alternatives to their conventional products with the introduction of financing product and a competitive alternative for business customers. In 2019, BML Islamic introduced three new Savings and Investment Accounts for personal and business customers, adding to its growing portfolio of Shari’ah compliant banking solutions.
Customer deposits are maintained in a separate fund that is utilized exclusively for Shari’ah compliant purposes, overseen by the Bank’s Shari’ah Advisory Committee which includes internationally renowned Shari’ah scholars in the field of Islamic finance.
Investment in community
Bank of Maldives continues their investment program during in order to support local individuals, businesses and communities.
References
- ^ https://www.bankofmaldives.com.mv/storage/document/74/1061/annual-report-2019-en.pdf
- ^ https://www.bankofmaldives.com.mv/investor-relations
- ^ Gold 100 https://corporatemaldives.com/gold100/bank-of-maldives/ Velidhoo Branch Opening https://mbr.mv/8134/ Employer Brand https://avas.mv/en/68463 Online applications https://corporatemaldives.com/bml-introduces-online-applications-for-range-of-services/ OIMT https://edition.mv/news/6377 Digital Technology https://avas.mv/en/56566 BML Islamic launches new accounts, Avas https://avas.mv/en/58747 Profits, MBR https://mbr.mv/5047/ Business Centre, MBR https://mbr.mv/8102/ mPOS launch https://edition.mv/business/12986 Record profit https://en.sun.mv/53211