Bank of Maldives (BML) has introduced an unsecured US dollar financing option under its Kiyavaa Loan for Maldivians pursuing eligible professional qualifications.

The financing does not require collateral and is available for internationally recognised certifications and professional development programmes. BML said the option is intended to make it easier for customers to pay fees in foreign currency.

Course fees will be transferred directly to the relevant professional bodies and institutions through telegraphic transfer (TT) once the required documents are submitted. Eligible stipend amounts will be deposited directly into the customer’s account.

BML Chief Executive Officer and Managing Director Mohamed Shareef said the enhancement was introduced as part of the bank's efforts to improve its products and services and better meet customers' changing needs. He added that the unsecured USD financing offers greater flexibility for individuals pursuing higher education and professional qualifications abroad.