Bank of Maldives (BML) has introduced an unsecured US dollar financing option under its Kiyavaa Loan for Maldivians pursuing eligible professional qualifications.

The financing does not require collateral and is available for internationally recognised certifications and professional development programmes, making it easier for customers to pay course fees in foreign currency.

Under the scheme, course fees will be transferred directly to the relevant professional bodies and institutions through telegraphic transfer (TT) after the required documents are submitted. Eligible stipend payments will be deposited into the customer's account.

BML Chief Executive Officer and Managing Director Mohamed Shareef said the enhancement reflects the bank's ongoing efforts to improve its products and services to meet customers' evolving needs. He said the unsecured USD financing provides greater flexibility for individuals pursuing higher education and professional qualifications abroad.