Bank of Maldives (BML) has installed and launched its first US Dollar ATM in Addu City, Hithadhoo, marking a significant expansion of banking services across the Maldives.

Minister of Economic Development and Trade Mohamed Saeed inaugurated the facility, alongside BML CEO Mohamed Shareef, as part of President Dr Mohamed Muizzu's pledge to decentralise banking services across the archipelago.

The USD ATM implementation heralds the beginning of an ambitious nationwide banking expansion project, with Government plans to install 122 additional ATMs throughout the country by the end of 2025.

"Financial inclusion across the nation remains a key priority of the government," Minister Saeed stated.

This adds to BML's already extensive network of 39 branches across 20 atolls, 95 self-service banking centres, and 151 ATMs nationwide.

The banking expansion plan encompasses both conventional and Islamic banking services. While BML is set to establish ATM services on every inhabited island by year-end, the Maldives Islamic Bank (MIB) has announced plans to install ATMs on 19 islands, with an additional 10 locations planned for 2026.

This initiative aligns with President Dr Muizzu's broader vision, outlined in his 2025 Presidential Address to Parliament, which aims to ensure universal access to banking services for all citizens.

At the Hithadhoo Branch specifically, BML has now established three ATMs in total – the new USD ATM for dollar deposits and withdrawals, a self-service ATM for rufiyaa transactions, and an additional ATM exclusively for rufiyaa withdrawals.

BML CEO Mohamed Shareef emphasised that this installation reflects the bank's commitment to meeting the growing demand for dollar transactions in Addu City.

This expansion of banking services comes at a strategic time for Addu City, which is currently undergoing significant development including the Gan International Airport project and the Asseyri Tourism initiative aimed at developing 6,000 tourist beds.

As the second largest populated city after Male' region, Addu City's population of over 35,000 residents stands to benefit significantly from these enhanced banking services.

President Dr Muizzu has taken a hands-on approach to the implementation, conducting outreach visits to island communities and personally overseeing signing ceremonies between BML and Island Councils for the establishment of ATM services.