Industry
Bank of Maldives opens its payment gateway to small businesses selling overseas
MSMEs can apply from 1 November to take card payments from customers abroad, settled in US dollars.
Industry · 2026-11-11 · Drafted with AI assistance and edited by the newsroom
Bank of Maldives (BML) announced on Sunday 1 November that micro, small and medium enterprises (MSMEs) can apply for the BML Payment Gateway to accept payments from overseas customers for goods and services. Funds from international card transactions are settled in US dollars, which can be used without restriction for subscriptions and other international payments through a USD debit card linked to the account.
Businesses apply through the Business Centre Corporation (BCC) portal, after which the bank contacts them to collect documents and complete onboarding before the service is activated. BML is running the scheme with the Ministry of Economic Development, Transport and Trade and BCC. The announcement does not name particular sectors.