Bank of Maldives has decided to extend the soft loan limit up to 300,000 Rufiyaa. The previous limit was 100,000 Rufiyaa.
Speaking at the ceremony held to launch the Credit Information Bureau’s websites, the deputy CEO of BML Mohammed Shareef said that they started with 15,000 Rufiyaa loans and now they are trying to extend it to 300,000 Rufiyaa. He noted that it can be achieved when there is a proper credit information bureau.
In addition Shareef said that as a result of the Credit Information Bureau, more loans can be issued by the bank because the loan process will be faster. He also said that they plan to introduce new types of loans.
