BML Recognized by Mastercard for Advancing Digital Finance in the Maldives

Mohamed Hilmy

11 November 2025, 00:00

Bank of Maldives has been acknowledged by Mastercard for its role in advancing the Maldives’ digital transition under the Digital Country Partnership. The recognition was presented to the Bank’s CEO and Managing Director, Mohamed Shareef, by Mastercard’s Country Manager for Sri Lanka and Maldives, Sandun Hapugoda, during the Digital Finance Leadership event held in Singapore.

The Digital Country Partnership was formalized in August 2025 between the Ministry of Homeland Security and Technology, Bank of Maldives and Mastercard. The initiative focuses on improving national digital infrastructure and broadening access to secure digital financial services. The partnership aims to create more opportunities for individuals and businesses to adapt to digital systems, contributing to long-term economic development.

Bank of Maldives has worked closely with Mastercard for over two decades, since becoming a Principal Member in 2002. During this period, the collaboration has introduced several developments in the local payments ecosystem. One key example is the integration of Mastercard-enabled payments into the Raajje Transport Link network, supporting the country’s shift towards modern public transport technology.

This latest recognition reflects the Bank’s ongoing involvement in digital innovation and its contribution to strengthening the financial environment in the Maldives. The acknowledgement also highlights how strategic partnerships can support the adoption of technology at a national scale.

BML Recognized by Mastercard for Advancing Digital Finance in the Maldives

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