Bank of Maldives (BML) has launched the “Masveriyaa” portal, a digital platform aimed at providing fishermen with easier and tailored access to financing services. The portal was inaugurated by Minister of Transport and Civil Aviation Mohamed Ameen at a ceremony in Dhuvaafaru held to mark Fishermen’s Day.
The platform allows fishermen registered with the National Fishermen’s Registry to apply for a range of Islamic personal financing products, including loans for home purchase and construction, higher education, vessel building and repair, guesthouses, fishing equipment and other personal needs.
BML CEO and Managing Director Mohamed Shareef said the portal builds on the bank’s partnership with the Ministry of Fisheries and Ocean Resources to improve financial access for fishermen, describing it as a key step in strengthening financial inclusion.
The launch further enhances BML’s support measures, including a commitment to process fishermen’s payments within 48 hours and a dedicated financing facility of up to MVR 300,000 without collateral. BML said repayment schedules are structured to match seasonal income patterns, with plans to add card services to the portal in the near future.
The platform allows fishermen registered with the National Fishermen’s Registry to apply for a range of Islamic personal financing products, including loans for home purchase and construction, higher education, vessel building and repair, guesthouses, fishing equipment and other personal needs.
BML CEO and Managing Director Mohamed Shareef said the portal builds on the bank’s partnership with the Ministry of Fisheries and Ocean Resources to improve financial access for fishermen, describing it as a key step in strengthening financial inclusion.
The launch further enhances BML’s support measures, including a commitment to process fishermen’s payments within 48 hours and a dedicated financing facility of up to MVR 300,000 without collateral. BML said repayment schedules are structured to match seasonal income patterns, with plans to add card services to the portal in the near future.
