Bank of Maldives (BML) has stated that the process of acquiring SME Development Finance Corporation (SDFC) is being conducted in compliance with laws and regulations.

On Thursday, the country’s national bank announced its interest in acquiring the government’s shares in the Small and Medium Enterprise Development Finance Corporation (SDFC), which was established to provide financing support to small and medium enterprises.

BML has formally submitted its request to the government, which, in response, has decided to proceed with the sale of its shares in SDFC, taking the bank’s proposal into consideration.

The bank emphasized that the acquisition will move forward only after all necessary procedures are completed in full compliance with banking laws and regulations.

BML highlighted that they have since begun the process of moving forward with these stages, reaffirming its commitment to a transparent and lawful acquisition.