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09th January 2022

BML provides Deposit and Payment Services through 100 Cash Agents

English Dhivehi

Bank of Maldives reaches 100 Cash Agents providing deposit and payment service with the introduction of this service in G.Dh Hoandedhoo.

Cash Agent banking involves using local retailers to provide cash withdrawal and deposit services to inhabited islands without a branch or ATM. Cash Agents were introduced in 2015 with just cash withdrawal services. Today, agents are able to facilitate withdrawals, deposits and payments for loans or credit cards without any additional charges. Customers will be able to withdraw MVR 2,000 and deposit MVR 10,000 daily through these Cash Agents.

BML’s Deputy CEO Aishath Noordeen stated, “Today represents an important milestone as we celebrate the introduction of Agent Banking services through our 100th Cash Agent. This is an integral part of our financial inclusion strategy to enable customers to easily access basic banking services across residential islands without the need to travel to an island with a Branch or Self Service Banking Centre. We look forward to expanding the service to more inhabited islands over the course of this year.”

With the nationwide network of 35 branches across all 20 atolls, 76 Self Service Banking Centres, 134 ATMs, over 200 agents and a full suite of Digital Banking services, Bank of Maldives is committed to supporting individuals, businesses and communities across Maldives.

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