Minister of Finance and Public Enterprises Hassan Zareer has said financial services are expanding and should be accessible to everyone across the country.
He made the statement while speaking at a ceremony held to inaugurate the Maldives Islamic Bank (MIB) ATM machine installed in Goidhoo, Baa Atoll. This is the bank’s 62nd ATM to be installed in the Maldives.
In his address, the Minister said as per President Dr Mohamed Muizzu’s policy, no island should be left out as the financial sector develops. He said island residents will not have to travel to the atoll’s capital to deposit or withdraw their funds, and that the development the financial sector sees must reach all citizens.
Zareer further said the government would cooperate with MIB and other financial institutions in their efforts to expand banking services across the country. He emphasised that the services must be accessible to all, and that the benefits should reach everyone.
Zareer further said Islamic banking services are becoming more and more popular and that the government wants these services available nationwide. The minister also noted that new ATMs are expected to support growing tourism and guesthouse businesses in islands.
MIB has launched ATMs in Kendhoo and Thulhaadhoo of Baa Atoll. The bank has also opened a new branch in Eydhafushi, the capital of Baa Atoll, upgrading its previous sales centre to offer full banking services, including account opening and financing for individuals and businesses.