Bank of Maldives (BML) Chief Executive Officer and Managing Director Mohamed Shareef has defended the bank's nationwide ATM expansion, saying the investment is an important part of BML's responsibility to provide equal access to banking services across the Maldives.

Speaking at the opening of the Youth Entrepreneurs Expo 2026, Shareef said the ATMs were installed in response to public demand and to ensure that people living in the atolls have access to the same banking services available in Malé.

He also dismissed claims circulating about the bank, including allegations that BML lacks access to US dollars, warning that the spread of false information could have serious consequences for the Maldivian economy.

Shareef noted that the nationwide ATM rollout fulfils President Dr Mohamed Muizzu's pledge to provide ATM services on every inhabited island, improving access to financial services and reducing the difficulties people previously faced in carrying out banking transactions.

According to BML, the project has resulted in the installation of 340 ATMs across 187 islands. Before the nationwide rollout began in November 2024, ATM services were available on only 81 islands, including Malé City. The bank added that ATMs were installed on 105 islands within nine months, marking the largest expansion of its ATM network in its history.