The Bank of Maldives has introduced a new home financing facility targeting tourism sector employees who earn income in US dollars, offering one of the lowest financing rates in the country.

In a statement, BML said the facility offers a rate of 7.5 per cent per annum, excluding the Government’s Hiyaavehi housing scheme, aimed at improving access to homeownership for workers across the tourism industry.

Chief Executive Officer and Managing Director Mohamed Shareef said the product is designed to support employees of resorts, guesthouses, hotels and safari vessels, noting that the sector remains a key pillar of the Maldivian economy.

The facility is available to Maldivian nationals employed in the tourism sector who receive their income in US dollars, with eligibility based on both salary and service charge income routed through BML.

A Shariah-compliant version is also available through BML Islamic, allowing customers to choose financing arrangements aligned with their preferences, while applications can be submitted via the bank’s mobile banking platform.