Bank of Maldives Pledges Continued Support to Tourism Industry

The Bank of Maldives (BML) has reaffirmed its commitment to supporting the country’s tourism industry, as the sector navigates challenges arising from the current global environment.

The bank’s statement follows recent remarks by the Minister of Tourism and Environment regarding financial assistance extended to the sector, with BML highlighting its ongoing efforts to engage closely with industry stakeholders.

BML said it is working with resort operators, guesthouse owners, and other tourism-related businesses to assess the impact of current conditions and identify appropriate support measures. These engagements are aimed at understanding the specific operational and financial needs of businesses across the sector.

CEO and Managing Director Mohamed Shareef said the bank remains focused on maintaining strong collaboration with industry players to deliver targeted financial solutions.

“Our priority is to stand alongside the tourism sector during this period. By maintaining open dialogue with industry stakeholders, we are able to deliver targeted financial solutions that help sustain operations, proactively manage the ongoing situation, and reinforce confidence across the industry,” Shareef said.

The bank noted that its efforts are aligned with broader national priorities to safeguard economic stability and strengthen resilience within the tourism sector, which remains a key pillar of the Maldivian economy.

BML added that it will continue to monitor developments and adjust its support measures as needed to ensure that the industry is well-positioned for recovery and future growth.

Tourism continues to be the main driver of economic activity and foreign exchange earnings in the Maldives, underscoring the importance of sustained financial support in maintaining business continuity and supporting overall economic stability.