The Government, through SME Digital, has disbursed over MVR 375 million in loans to businesses across the Maldives.

Data shared by SME Digital with MMTV shows that from 17 November 2023 to 15 April 2026, a total of 575 businesses received financing exceeding MVR 375 million.

Breakdown of loans issued across sectors:

SME Digital is a Bank of Maldives (BML) subsidiary providing financing solutions to small and medium-sized enterprises across a wide range of sectors in the Maldives.

The institution is currently working towards transitioning all its services to Islamic finance principles, with the aim of becoming a provider of Sharia-compliant financial services across the widest possible range in the country.

As part of this effort, all services have been converted to Sharia-compliant models over the past five months, and new financing facilities structured under Islamic principles have now been introduced.

In addition, since October last year, SME Digital has begun the process of converting previously issued loans into Islamic financing. While some facilities have already been refinanced under Sharia principles, work is ongoing to transition the remaining facilities.