The SME Development Finance Corporation (SDFC) has officially rebranded as SME Digital, marking a major milestone in its transformation into a fully digital financial services provider for small and medium-sized enterprises (SMEs).

The name change was approved during an Extraordinary General Meeting of shareholders on 30 October 2025, and officially registered today with the Ministry of Economic Development and Trade, following approval from the Maldives Monetary Authority (MMA).

According to the company, SME Digital will serve as a comprehensive platform offering financing solutions alongside digital tools to help businesses manage financial transactions, improve operational efficiency, and access broader markets. The transformation aims to empower SMEs throughout their business lifecycle, from establishment and growth to expansion and digital transformation.

Following its transition into a subsidiary of the Bank of Maldives (BML), SME Digital has begun system integration with BML to enhance service accessibility. Customers can now make payments for SME Digital facilities directly through the BML Mobile Banking App, supported by secure API connectivity.

The company also announced the upcoming launch of the SME Digital Mobile App, which will allow users to manage their financing facilities, update profiles, and access digital payment solutions. A nationwide digital marketplace is also in development, designed to connect entrepreneurs, service providers, and business partners across the Maldives.

Commenting on the rebranding, SME Digital CEO Badhurudheen Hassan said the initiative marks a renewed commitment to transforming the SME ecosystem through innovation, technology, and collaboration.

SME Digital aims to become the Maldives’ first Shariah-compliant financial institution, leveraging modern digital technologies to accelerate SME growth. The rollout of the company’s new brand identity and digital services will take place in phases over the coming months, pending regulatory approvals.

The company confirmed that the rebranding will not affect existing customers, with all approved financing terms and conditions remaining unchanged. However, its general terms and conditions have been updated to reflect the new brand and integrated systems.