BML Hits 99 Percent Digital Transactions in Major Banking Shift

Bank of Maldives CEO and Managing Director Mohamed Shareef announced that 99 percent of the bank’s financial transactions are now completed digitally.
Speaking at the Annual General Meeting held at Barceló Nasandhura, Shareef said BML processes over MVR 220 million annually through digital channels. While about 600,000 transactions still take place at branch counters, the shift to digital platforms has been significant.

According to Shareef, BML customers use the bank’s Internet and Mobile Banking services over one million times a day. Additionally, more than 150,000 transactions are processed daily through BML POS terminals, and 238,000 transactions are carried out via cards.
The bank is also focusing on increasing financial inclusion by establishing branches and ATMs on all islands. Shareef highlighted that expanding digital services remains a key goal and has already received strong positive feedback from customers.

He added that since March, BML has been providing all banking services online, removing the need for customers to visit branches in person. Shareef credited this digital transformation as a major driver of the bank’s continued success.