Bank of Maldives Introduces New Home Financing for Tourism Sector Employees

The financing facility is open to Maldivian nationals employed in resorts, guesthouses, hotel properties and safari vessels, provided their income is received in US dollars.

Mohamed Hilmy

23 April 2026, 07:59

Bank of Maldives has launched a new home financing facility aimed at employees in the tourism sector who earn income in US dollars, offering one of the lowest housing finance rates currently available in the country.

The product comes with an interest rate of 7.5% per annum, excluding the Hiyaavehi financing scheme, and is designed to provide a more affordable pathway to homeownership for workers across the tourism industry.

“This product is designed to make financing more accessible for resort, guesthouse, hotels and safari vessels employees, who play a vital role in the Maldivian economy,” said Mohamed Shareef, CEO and Managing Director of the bank.

“The tourism industry is the backbone of our nation, and this facility reflects our commitment to supporting employees of the largest industry and their families.”

The financing facility is open to Maldivian nationals employed in resorts, guesthouses, hotel properties and safari vessels, provided their income is received in US dollars. The bank said income assessments will take into account both salary and service charge earnings, which must be routed through Bank of Maldives.

A Shariah-compliant version of the product is also available through BML Islamic, allowing customers to access financing options aligned with Islamic principles.

Applications can be submitted via the BML Mobile Banking App, while further details are available on the bank’s official website.

Bank of Maldives Introduces New Home Financing for Tourism Sector Employees

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