BML introduces unsecured USD financing for students

Bank of Maldives (BML), on Sunday, has announced financing in US dollars for Maldivians to pursue professional qualifications as well as make fee payments associated with professional qualifications, as an enhancement to its Kiyavaa Loan product.

This is an unsecured financing option for eligible professional qualifications, eliminating the need for collateral. Financing under this option will be provided in US dollars, offering a solution tailored to individuals pursuing internationally recognized certifications, and professional development programs and would provide an ease in making payments in foreign currency.

Under the enhanced offering, course fees will be remitted directly to the respective professional bodies and institutions via Telegraphic Transfer (TT) upon submission of the required supporting documents, while eligible stipend amounts will be deposited directly tocustomer.

BML’s CEO and Managing Director Mohamed Shareef stated the Kiyavaa loan was enhance as part of the bank’s efforts to improve its products and services.

“This new unsecured USD financing option provides greater flexibility for individuals pursuing higher education and professional qualifications abroad,” he added.

As the leading financial institution in the Maldives, Bank of Maldives remains committed to supporting customers in achieving their educational aspirations through innovative and accessible financing solutions.