President Dr Mohamed Muizzu has officially launched the Youth Entrepreneurs Expo 2026, before inaugurating the Youth Entrepreneurship Financing scheme and seven new Bank of Maldives (BML) branches aimed at strengthening support for young entrepreneurs and expanding access to banking services across the Maldives.

The Youth Entrepreneurship Financing scheme is open to young people aged between 18 and 30 and offers financing of up to MVR 150,000 without requiring collateral or equity. The scheme is designed to help aspiring entrepreneurs and freelancers establish or expand their businesses.

Loans are offered at a 7 per cent annual profit rate, with applications to be processed within 24 hours. The financing has a five-year repayment period and includes a six-month grace period. In addition to financial support, beneficiaries will receive business mentorship, practical guidance and training through SME Digital.

The seven newly inaugurated BML branches are located in:

With the latest expansion, Bank of Maldives now operates 55 branches across all 20 atolls, including 17 branches opened over the past two years.

Speaking at the ceremony, BML Chief Executive Officer and Managing Director Mohamed Shareef said the bank continues to reinvest its growth to expand its nationwide network and bring banking services closer to communities across the country.

He said the bank's strong financial performance has enabled continued investment in branches, self-service banking facilities and digital banking services, ensuring individuals and businesses have greater access to financial services.