Bank of Maldives (BML) has introduced a new Commercial Property Financing facility, offering funding options for the purchase of land, business premises, and garage spaces across the country.

The BML Islamic Commercial Property Financing aims to support businesses in acquiring completed properties or those under an end-user financing model. The facility covers the purchase of land for operational purposes or future expansion, as well as commercial spaces such as office buildings, warehouses, retail outlets, and manufacturing sites.

To qualify, businesses must be registered and operating for a minimum of two years, demonstrate satisfactory financial performance for the latest financial year, and maintain a good credit history.

Through this facility, businesses can access up to MVR 30 million in financing at a rate of 12 per cent, with flexible repayment options and an initial grace period.

According to BML CEO and Managing Director Mohamed Shareef, the facility is intended to strengthen businesses by providing the financial resources needed to acquire commercial properties such as office spaces and warehouses. Shareef noted that the initiative would create new opportunities for business expansion and infrastructure development, helping enterprises invest in future growth and operational capacity.

BML added that the new product is part of the bank’s efforts to offer accessible financial solutions that encourage business expansion, infrastructure investment, and sustainable growth.

Applications for the facility can be submitted through the BML Islamic Financing Centre in Malé and at designated branches across other islands.