The Bank of Maldives (BML), in partnership with SME Digital, has successfully concluded the inaugural phase of its ‘Youth Entrepreneurship Financing’ initiative. The program has disbursed over MVR 300 million in financial support to more than 3,000 young entrepreneurs throughout the Maldives.

According to BML, this facility was specifically designed to provide Maldivian youth with the financial resources required to launch new ventures or expand existing small and medium-sized enterprises (SMEs).

The program was open to individuals between the ages of 18 and 30. Under this facility, eligible applicants could access up to MVR 150,000 in financing without the need for collateral, significantly easing the path to business ownership for the younger generation.

Reflecting on the program’s success, BML CEO and Managing Director Mohamed Shareef expressed his satisfaction with the high level of engagement from the youth. He emphasized that the bank takes great pride in helping aspiring entrepreneurs transform creative ideas into profitable and sustainable businesses while developing the skills necessary for long-term success.