Type Public Products Financial Services Operating income Number of employees 850 (2015) | Industry Financial services Revenue MVR 1.7 billion (2015) Headquarters Malé, Maldives Founded 1982, Malé, Maldives | |
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Key people Andrew Healy (CEO and Managing Director), Profiles | ||
In bank of maldives plc
Bank of Maldives Plc (BML) is the national bank of the Maldives, established on November 11, 1982. The main business of the bank is retail banking, in addition to handling development banking activities in all the atolls. Its services include electronic banking, loan facilities, credit cards and debit cards.
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BML has 29 branches, including four in Male, the capital, one in Ibrahim Nasir International Airport (Hulhule' Island) and one each in both Villingili ward and Hulhumale.
BML won the JPMorgan Elite Quality Recognition Award 2011.
History
Bank of Maldives was inaugurated on November 11, 1982 and began commercial operation as a joint venture bank with 60% shares held by the Government of the Maldives (including its Agencies and Maldivian Companies) and 40% shares owned by International Finance Investment Company Limited (later IFIC Bank Limited), Dhaka, Bangladesh.
In December 1992, the Government decided to sell the Bank's shares to the general public. With this decision, Bank of Maldives became a public company on January 1, 1993.
Islamic banking
Bank of Maldives launched Islamic banking services under the name "BML Islamic" on 22 January 2015. BML Islamic offers Wadi'ah Deposit Account services for personal banking customers and will be launching services for business customers.
Corporate social responsibility
Bank of Maldives believes in contributing to the community and thus encourages staff volunteerism as well as participate in numerous CSR endeavours. Most notably, the Bank managed the Gaza Fund during the Help Gaza Telethon.