President Muizzu Announces Dollar Payment Facility for Maldives SMEs via BML Gateway Starting November 1

President Dr. Mohamed Muizzu has announced that from November 1, small businesses and producers in the Maldives will be able to receive payments in US dollars through Bank of Maldives (BML) payment gateway. The announcement was made during the 'Maldives Expo 2026' award ceremony. The President highlighted that small businesses and producers have faced significant challenges in receiving payments from abroad. To address this, the Ministry of Economic Development and Trade, Business Center Corporation (BCC), and BML have collaborated to establish the new facility. Through BML Gateway, businesses can accept dollar payments from anywhere in the world. Additionally, from November 1, businesses will be able to use cards and remittances to pay for goods, services, and subscriptions from abroad without difficulty. President Muizzu stated that the initiative will remove barriers for small and medium enterprises (SMEs) and encourage more citizens to start their own businesses. The government aims to facilitate financial empowerment for as many people as possible. The President also shared details of previous financial support: 795 million rufiyaa in loans have been disbursed to SMEs, benefiting over 1,000 businesses. Furthermore, the first phase of the 'Youth Entrepreneurship Program,' launched on July 15, provided over 300 million rufiyaa to more than 3,000 young entrepreneurs. The second phase of the program is scheduled to begin in November.