Maldives' main bank has expanded its cash withdrawal service in the atolls by adding the 200
th retailer to its network of cash agents.
Bank of Maldives (BML) held a small ceremony Kaaf Atoll Dhiffushi island on Friday to mark the occasion, where a memento was presented to the retailer.
BML Cash Agents are local retailers who provide cash withdrawal services to inhabited islands which lack a bank presence.
BML customers simply use their debit cards to withdraw cash through the Bank’s Point-of-Sale (POS) machines at these outlets.
The Bank achieved its goal of providing basic banking services nationwide in 2015 when it completed its roll-out of cash agents in all inhabited islands without a branch or ATM presence.
“I am really pleased to be here in Dhiffushi today to welcome the 200th retailer to our cash agent network," BML Deputy CEO Aishath Noordeen said during the ceremony.
"This is an important service as cash agents allow local communities to bank conveniently without going through the hassle or expense of traveling to the nearest island with a branch.”
BML currently boasts a nationwide network of 31 branches across all 20 atolls, 78 ATMs, 4,000 Point of Sale merchants, 200 cash agents, 20 Self Service Banking Centres and 5 Dhoni Banking
Units, as well as a full suite of Digital and Online Banking Services.
