Bank of Maldives (BML) has officially launched new ATM services on the islands of Noonu Hen’badhoo and Noonu Kudafari, advancing a major national initiative to broaden banking accessibility across the country.

During the ceremony, Minister of Economic Development and Trade Mohamed Saeed emphasised that the President has fulfilled his pledge to provide ATM services to the residents of Hen’badhoo and Kudafari, delivering meaningful relief to residents and businesses on these islands.

He also expressed gratitude for the leadership's focus on improving banking accessibility and praised BML's management and staff for their tireless efforts in rolling out these vital services to the nation's remote communities.

BML CEO Mohamed Shareef highlighted the bank’s firm commitment to leaving no citizen or island behind, despite the logistical challenges involved in establishing ATMs on every inhabited island. He noted that the initiative is critical for enabling residents to access banking services locally, eliminating the need to travel between islands and facilitating the formal entry of cash into the banking system.

Shareef revealed that digital banking now accounts for around 90 per cent of all customer transactions, with the bank’s internet banking platform and mobile app collectively attracting about one million logins daily. Nevertheless, ATM usage remains on the rise, with BML machines processing approximately 38,000 transactions every day.

The CEO pointed to recent successes in other atolls as evidence of the programme’s growing impact. In Dhaalu Atoll, for example, ATMs installed just two months ago have processed over 2,000 deposit transactions totalling MVR 14 million by the end of April. This volume of transactions effectively saved residents from making an equivalent number of journeys to access banking services.

Similarly, during the recent Ramadan period, ATM services launched across all islands in Haa Alifu Atoll enabled 8,000 deposit transactions amounting to MVR 45 million and 27,000 withdrawals worth MVR 52 million in a span of just five weeks.

By the end of April, ATMs installed outside the capital Malé had processed a total of 240,000 transactions with a combined value of MVR 1.3 billion, signalling a steady increase in both deposits and withdrawals in the atolls.

BML plans to install ATMs on more than 100 islands by the end of 2025, bringing the total number of machines in its network to over 250 nationwide. The expansion is part of a wider vision championed by President Dr Mohammed Muizzu to ensure comprehensive banking access for Maldivians regardless of their location.