BML Launches Nationwide Financial Literacy Program with Visa and Education Ministry

The Bank of Maldives (BML), in collaboration with Visa and the Ministry of Education, has unveiled a nationwide financial literacy program aimed at enhancing financial awareness among youth, small and medium enterprises (SMEs), schools, and communities. The initiative was officially launched at a signing ceremony attended by Visa Country Manager for Sri Lanka and Maldives Avanthi Colombage, BML CEO and Managing Director Mohamed Shareef, and Minister of Education Dr. Ismail Shafeeu. The program will incorporate Visa's globally recognized Practical Money Skills (PMS) and Practical Business Skills (PBS) frameworks. The sessions will cover essential topics such as budgeting and saving, responsible credit use, debt management, cash flow management, pricing strategies for SMEs, digital payments, and customer growth strategies. BML CEO Mohamed Shareef emphasized the program's importance in equipping the next generation with the knowledge to make informed financial decisions, stating, 'Helping students build a strong financial foundation is an important long-term step to strengthening this country’s economy.' Avanthi Colombage highlighted the significance of financial literacy in fostering resilience and economic progress, adding that the initiative supports the Maldives' broader strategy to diversify beyond tourism and accelerate inclusive growth through digital transformation. As the largest financial institution in the Maldives, BML has conducted over 200 financial literacy workshops in schools and communities in the past year, reinforcing its commitment to financial education.