Covid-19: Six month grace period for principal and interest payments of BML loans

The state has announced a six-month grace period for interest and principal payments for existing loans at Bank of Maldives (BML).

This is a measure taken to provide assistance for citizens and local businesses impacted by the consequent economic downturn resulting from the Covid-19 pandemic.

As such, interested parties must apply for the assistance and show documented proof of the economic impact whether direct or indirect.

The revelation came from Minister of Finance Ibrahim Ameer during a press conference held on Thursday, where he added that BML will announce the details in the near future.

While the minister revealed that an agreement has been reached with BML, he also stated that similar discussions are ongoing with other financial institutions.

Further, the state has also announced a MVR 2.5 million economic recovery package as well.

The state has announced a six-month grace period for interest and principal payments for existing loans at Bank of Maldives (BML).

This is a measure taken to provide assistance for citizens and local businesses impacted by the consequent economic downturn resulting from the Covid-19 pandemic.

As such, interested parties must apply for the assistance and show documented proof of the economic impact whether direct or indirect.

The revelation came from Minister of Finance Ibrahim Ameer during a press conference held on Thursday, where he added that BML will announce the details in the near future.

While the minister revealed that an agreement has been reached with BML, he also stated that similar discussions are ongoing with other financial institutions.

Further, the state has also announced a MVR 2.5 million economic recovery package as well.

Covid-19: Six month grace period for principal and interest payments of BML loans

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Covid-19: Six month grace period for principal and interest payments of BML loans

Comments

Doctors conduct six-hour surgery on captain of the Princess

Will release report this month, date not set: ACC

I’m back after a six-day scholarship: Qasim

Six days set as remand for Qasim

Doctors forced to deliver H1N1 patient's 5-month-old fetus

On This Day

Israeli passport ban passed in a way that allows even Netanyahu to visit: Meekail

Win a player mascot experience at UEFA Champions League Final through BML!

Arrivals figure for 2023 sees growth of 20 percent compared to 2022

Maldives welcomes more than 498,000 tourists so far in 2022

First Lady Fazna tests positive for Covid-19

MIFCO ice plant in Fuvahmulah, now fully operational

Dr Malik slams health ministry for promoting a carcinogen at ministry event