BML Expands to Six New Islands, Launches US Dollar ATM Network Nationwide

Bank of Maldives (BML) has significantly expanded its physical presence across the archipelago, opening six new branches and launching a nationwide network of US Dollar ATMs. President Dr. Mohamed Muizzu officially inaugurated the new services at a ceremony attended by senior bank officials, including Chairperson Ahmed Ali Habeeb and CEO Mohamed Shareef. The new branches are located in Hanimaadhoo and Kulhudhuffushi (Haa Dhaalu Atoll), Thoddoo (Alif Alif Atoll), Vilufushi (Thaa Atoll), Hithadhoo (Laamu Atoll), and Hulhudhoo (Seenu Atoll). The Kulhudhuffushi branch will function as a dedicated business centre. BML stated this expansion aims to bring essential banking services closer to communities outside the capital. CEO Mohamed Shareef emphasized the bank's commitment to personal customer relationships despite digital growth. He announced staff would take a more proactive role, visiting homes, businesses, and neighboring islands to educate customers on banking products, enhance financial literacy, and raise awareness about scams. Concurrently, BML formally introduced US Dollar ATMs, with plans to install 70 machines nationwide alongside 20 new Maldivian Rufiyaa ATMs. This initiative is part of a government policy to establish dollar ATMs in seven urban centres. According to 2025 data, approximately USD 1.1 billion was deposited through the ATM network via 8.4 million transactions. The government-led push has dramatically increased ATM access. From only 138 ATMs across 73 islands by 2023, the network has grown to 340 ATMs across 187 islands as of April 1, following a nine-month expansion drive. The government has pledged to provide ATM services on all inhabited islands.