Bank of Maldives wins Banking Innovation of the Month for March with nationwide ATM initiative

Bank of Maldives has been awarded Banking Innovation of the Month for March in recognition of its groundbreaking “Mulhi Raajje ah BML ATM” initiative—an ambitious project that has transformed access to banking across the Maldives. With this win, the bank is now automatically nominated for the Qorus Infosys Finacle Banking Innovation Awards 2026. 

This pioneering effort has achieved a remarkable milestone: ensuring that every individual living on inhabited islands now has access to 24/7 banking services. By expanding beyond digital solutions and introducing self-service banking ATMs nationwide, the Bank has significantly strengthened financial inclusion in remote island communities.

These multi-functional ATMs empower individuals, families, and businesses with essential services, including cash deposits and withdrawals, cheque deposits, fund transfers, loan repayments, credit card and bill payments, and balance inquiries—bringing convenient, reliable banking closer to home.

Launched with a bold target in November 2024, the project addressed a critical gap, as only 81 islands previously had ATM access. Starting with its first rollout in February 2025, the Bank successfully expanded coverage to 105 islands within just nine months—an unprecedented achievement in both scale and speed.

This success reflects a highly coordinated, multi-stakeholder effort and sets a new benchmark for innovation in banking accessibility, demonstrating Bank of Maldives’ commitment to inclusive, nationwide financial empowerment.


Submit your innovative banking project by 15 April 2026 (inclusive) for a chance to be selected as the Innovation of the Month for April 2026. The Innovation of the Month Award is a benefit reserved for institutions that hold a Qorus corporate membership.