Minister of Economic Development Fayyaz Ismail has revealed efforts are underway to establish a bank especially for small and medium-sized enterprises (SMEs).
Speaking to PSM News, Economic Minister Fayyaz Ismail stated the main aim of the current administration is to empower (SMEs). The minister noted challenges are faced for individuals in attaining loans for small businesses via the existing banks.
The economic minister revealed an SME bank serving especially for such businesses will be established latest by the end of January, adding the bank will be established under the laws and regulations of Maldives Monetary Authority (MMA).
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