Bank of Maldives

There were 10 million transactions in 2017, says BML

  • BML made the announcement on Thursday
  • Out of the 10 million, 2.5 million transactions were deposits
  • BML welcomed 23,000 new customers in 2017

Aishath Shaany

K. Male' 2018 Jan 25 | Thu 23:17 3,548 business

The Bank of Maldives' headquarters in capital city Malé - BML

Bank of Maldives (BML) has said that it saw 10 million transactions in 2017.

BML, on Thursday, revealed that out of the 10 million, 2.5 million transactions were deposits.

Noting that “that’s 2.5 million transactions that would have otherwise have involved queuing in branches,” the Bank said that people “have got used to the idea of depositing cash and cheques through [its] modern ATMs at any time of the day or night”.

BML also noted that it introduced the Maldives’ first ever dedicated US Dollar ATM Centre in 2017, adding that customers had withdrawn “over 300 million dollars from this centre over the last year”. It also opened 14 new Self Serving Centres across the country within 2017.

As part of its promise to provide cash services to all inhabited islands, BML said that it “further expanded [its] cash agent network to support the banking needs of island communities”. BML, which now has 205 cash agents on 165 different islands across the country, said that “over 250,000 transactions were carried out in through these agents last year”.

BML further said that it welcomed 23,000 new customers in 2017.

Last updated at: 1 month ago | Reviewed by: Rushdha Rasheed

Comment on Article

To share a news drop us an email to [email protected] or contact us at 9110099