Bank of Maldives (BML) has launched USD educational loans to assist customers with funding professional training and globally recognized certifications.

The bank announced that its Kiyavaa loans and education financing options will now be offered in US dollars to finance course fees and certification expenses for professional qualifications.

The funding will be provided without requiring any security.

BML states that the new facility aims to assist customers involved in internationally recognized training programs in fulfilling foreign currency payment obligations.

According to the plan, the bank will directly send tuition fees to educational institutions or associated organizations through TT. Any authorized stipend will be added to the customer's account.

BML's CEO, Mohamed Shareef, stated that the initiative is a component of the bank's endeavors to enhance its services.

According to BML's guidelines, education loans and funding provided in USD must be repaid in US dollars as well.

The bank has recently implemented various steps to enhance customers' access to foreign currency, such as initiating a specialized platform for buying USD to boost the foreign currency available for MVR debit cards.