Bank of Maldives (BML) has launched Chinese Yuan accounts, enabling direct trade and payments with China.
The launch event took place in Malé this afternoon. Chinese Ambassador to the Maldives, H.E. Kong Xianhua, BML Chairperson Ahmed Ali Habeeb, and CEO Mohamed Shareef attended the ceremony.
BML introduced several new services for individuals and businesses:
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Chinese Yuan Accounts: Open current accounts in Yuan via Internet and Mobile Banking.
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International Transfers: Send and receive transfers directly in Yuan.
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Letters of Credit: Issue and manage LCs in Yuan for trade with China.
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WeChat Pay: Link BML-issued Visa and Mastercard cards to pay merchants in China.
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WeChat Wallet: Receive funds in Yuan and make payments or transfers in Mainland China.
BML also plans to issue UnionPay cards from January 2026, giving access to a global network in over 180 countries.
