Bank of Maldives (BML) has opened applications for a startup grant scheme that offers up to MVR 1 million to eligible entrepreneurs.
The scheme is designed to support the launch and early growth of new businesses. Applicants must meet criteria set by the bank, which typically include a viable business plan, clear use of funds and compliance with regulatory requirements.
BML has previously run similar financing and grant programmes aimed at small and medium enterprises and first-time business owners. The current round is expected to attract interest from sectors ranging from tourism-related services to technology, fisheries value-addition and local manufacturing.
Interested parties are advised to review the full eligibility conditions and application process on the bank’s official channels. Deadlines and any supporting documentation requirements will be specified in the scheme guidelines.
The initiative forms part of broader efforts to expand access to finance for smaller enterprises at a time when the government and financial institutions are also discussing wider economic cooperation with partners such as India and Pakistan.