Bank of Maldives (BML) has opened Cash Agents in Hoandedhoo, Gaafu Dhaalu Atoll, bringing the total number of BML Cash Agents in the country to 100.
BML’s Cash Agent banking, launched in 2015, entails using local businesses to provide cash withdrawal and deposit services on populated islands that lack a branch or ATM. Customers will be able to withdraw MVR 2,000 and deposit MVR 10,000 using these Cash Agents daily.
BML’s Deputy CEO Aishath Noordeen noted the bank’s significant milestone with the launch of Agent Banking services via their 100th Cash Agent.
“This is an integral part of our financial inclusion strategy to enable customers to easily access basic banking services across residential islands without the need to travel to an island with a Branch or Self-Service Banking Centre,” she said.
She also stated that the bank plans to expand the service to other populated islands this year.
With 35 branches across all 20 atolls, 76 Self Service Banking Centers, 134 ATMs, over 200 agents, and a full suite of Digital Banking services, the bank has a statewide network of 35 branches across all 20 atolls.