Bank of Maldives (BML) has launched a new digital platform, the “Masveriyaa” portal, aimed at improving fishermen’s access to financing and banking services.

The portal was officially inaugurated by Minister of Transport and Civil Aviation Mohamed Ameen during a ceremony held in Raa Dhuvaafaru to mark Fishermen’s Day.

The Masveriyaa portal allows fishermen registered with the National Fishermen’s Registry to apply online for a range of Islamic personal financing products. These include financing for home purchase and construction, higher education, vessel construction and repair, guesthouse development, and other purposes such as the purchase of fishing gear and equipment.

BML stated the platform is intended to streamline access to financing by providing a single digital channel tailored to the needs of the fishing community. The Bank said repayment structures have been designed to reflect the seasonal nature of fishing income.

The Bank further stated that card services are planned to be integrated into the Masveriyaa portal at a later stage.

The launch of the portal comes alongside wider Government efforts to improve fishermen’s access to financial services. The National Fishermen’s Registry was introduced to formally register fishermen and enable access to financing facilities and Government support programmes.