Bank of Maldives (BML) has officially commenced development of a new branch in Alifushi island of Raa atoll, marking a strategic step in strengthening its presence in Raa atoll. The ground-breaking ceremony was held on Monday, signaling the start of construction for the upcoming branch.

The event was attended by senior government officials, including the Minister of Cities, Local Government and Public Works, along with BML’s leadership team, board members, and other senior executives.

The new branch is expected to be completed by next year and will offer the bank’s full range of services, further enhancing accessibility for residents of Alifushi and surrounding islands. This development is part of BML’s broader strategy to bring comprehensive banking services closer to communities across the Maldives.

Currently, BML operates branches in Ungoofaaru, Dhuvaafaru, and Meedhoo within Raa atoll, supporting a wide customer base in the region.

As the nation’s largest financial institution, BML maintains an extensive network that includes 42 branches across all 20 atolls, 179 Self-Service Banking Centers, 237 ATMs, a broad Agent Banking network, and cutting-edge digital banking platforms designed to provide accessible and inclusive financial services nationwide.