SME Development Finance Corporation Pvt Ltd received the
financing business license required to operate in the Maldivian finance
industry, on the 28th of February, 2019.
The company is a 100% government owned firm. The shares are
distributed among the city councils of Male, Addu, and Fuvamulah, where each
council owns 5% of the shares.
National Bank, Maldives Monetary Authorty (MMA) states that, once
the bank starts its operations, it will be very beneficial to the economy, as
it will be able to give more medium and small business loans, and help increase
the competition within the businesses to improve efficiency.
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