Bank of Maldives to Host Event Demonstrating Resort Solutions


Maldives
PUBLISHED June 26, 2018

Bank of Maldives Plc (BML) has revealed plans to host a special event targeting stakeholders in the tourism sector on June 28 at Kurumba Maldives.


According Kuldip Paliwal, the Director of Business at BML. the Resort Solution Event is the first event of its kind to be hosted by a bank in the country, showcasing the bank's premium products for the resort industry including a preview of an entirely new service.


"Resorts are the key contributors for the tourism industry, and tourism is the backbone of Maldivian economy," said Mr Paliwal.


"Tourism is the backbone of the countrys economy, contributing around 23 percent of GDP and around 70 percent of foreign currency, and the largest employment hub. BML believes tourism is the most important factor in the development of the countrys economy, and we feel to support the industry in every way we can."


He further added that that the senior management of all resorts, including General Managers and CFOs, would be invited to this event where BML would demonstrate that it had "a solution for every resort need".


Mr Paliwal also noted that aside from banking accounts in multiple currencies and salary processing services, the bank also provides various loan requirements such as personal loans and home loan schemes, and international debit cards to resort staff.


BML also provided project financing and working capital requirements for resort businesses, and that the bank's branches, self-service kiosks and agents located across the archipelago made banking services easily accessible to resort workers situated even in remote areas of Maldives.


Bank of Maldives (BML) is the national bank of the Maldives, established on November 11, 1982. 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.


The primary 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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