BML opens Startup Grant 2026 with two MVR 500,000 grants

Bank of Maldives (BML) has opened applications for its Startup Grant 2026, with two successful applicants set to receive MVR 500,000 each to establish or grow their businesses.

The programme is open to eligible Maldivians aged between 18 and 60 with innovative and viable business ideas. In addition to the grant funding, BML will provide each winner with business support through a dedicated Relationship Manager for one year.

Applicants must submit their applications and business plans to [email protected] before 2:00 PM on Tuesday, 10 November 2026.

BML launched the Startup Grant in 2022 as part of a series of initiatives marking the Bank’s 40th anniversary. Four businesses received MVR 500,000 each in the programme’s first year, after being selected from more than 100 applicants.

The programme has since continued annually. Two businesses received MVR 500,000 each under the 2023 grant, while the 2024 programme again offered two grants of the same value. The 2024 recipients included The Island Factory, which proposed developing value-added Maldivian fish products, and After School, which focused on locally designed STEM learning kits and training programmes.

In 2025, BML temporarily increased the number of grants from the usual two to three, marking the 10th anniversary of BML Islamic, while maintaining the grant value at MVR 500,000 per recipient.

The 2026 programme returns to two recipients, with the Bank continuing its focus on supporting new and growing businesses in the Maldives.

BML opens applications for Startup Grant 2026 with two MVR 500,000 grants

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