SME bank receives green light

Financing Business License has been granted to SME Development Finance Corporation Pvt Ltd, a 100% government owned company.

The license was issued to the state-owned company on Thursday, where 5% shares are owned by the three city councils of Male', Addu and Fuvahmulah City.

Central Bank Maldives Monetary Authority (MMA) revealed that the procedure to receive loans by small and medium enterprises will become easier with the operation of the company, in addition to establishing a healthy and competitive market between financial institutions.