BML Launches “Masveriyaa” Portal to Empower Fishermen


The Bank of Maldives (BML), has officially opened a portal called the Masveriyaa portal which is a digital website aimed at offering Maldives fishermen easy access to various financing facilities. It opened with the special ceremony of the Fishermen Day in a special event in Dhuvaafaru with the opening by the Minister of Transport and Civil Aviation Mohamed Ameen.
The Masveriyaa portal provides Islamic personal financing products that can assist the industry in a number of ways such as home purchase, home building, higher education, vessel building and repair, guesthouse development, and other purposes like fishing gear and equipment. The National FishermenRegistry of registered fishermen can now use these financing options as an option directly on the user friendly platform.
Mr. Mohamed Shareef, CEO and Managing Director of BML earlier this year said that we did so in collaboration with the Ministry of Fisheries and Ocean Resources to enable our fishermen to access finance easily. The opening of the Masveriyaa portal is an important milestone on this path, in which we are determined to assist the fishing community with the contemporary and convenient financial services.
This program is based on the continued support of fishermen offered by BML that includes processing payment within 48 hours and provision of an exclusive financing facility up to MVR 300,000 without any collateral. The schedules of repayment are also designed to be based on the seasonal income and are therefore, flexible to the fishermen. Another commitment of the Bank is to introduce card services via the portal in the coming years, and this will make financial access easier in the sector even more.