The Bank of Maldives (BML) has opened applications for its Startup Grant 2025, aimed at supporting new and emerging entrepreneurs in the country.

Now in its fourth consecutive year, the programme offers financial assistance to individuals and small businesses seeking to start or expand ventures in the Maldives. This year, three recipients will be awarded grants of MVR 500,000 each, an increase from the usual two, celebrating the 10th anniversary of BML Islamic.

According to the bank, the grant is open to Maldivian citizens aged between 18 and 60, as well as newly registered businesses that have been in operation for less than 12 months. Applicants must not hold shares in other registered businesses and must be in good standing with relevant banking and regulatory requirements, including anti-money laundering compliance. 

A total of 10 applicants will be shortlisted and invited to pitch their business ideas before a selection committee. The three winning proposals will be awarded funding and are expected to implement their business plans within 12 months. 

Applications must be submitted via email to [email protected] before 4:00 p.m. on 7 September 2025. The bank noted that the grant continues to play a role in encouraging innovation and self-employment, with a focus on supporting viable business ideas that contribute to economic growth.