Bank of Maldives opens MVR 1 million startup grant applications

Bank of Maldives (BML) has launched applications for its 2026 Startup Grant programme, offering a total of MVR 1 million in non-repayable funding. Two selected winners will each receive MVR 500,000 to launch new business ideas or expand micro and small enterprises that have been operating for less than 12 months.

In addition to the financial award, BML will provide each recipient with a dedicated Relationship Manager to offer one year of structured mentorship and business guidance. The program aims to support local entrepreneurship by helping new business owners navigate initial operational challenges.

Eligibility is limited to Maldivian citizens aged 18 to 60 and newly registered small businesses. Applicants must maintain a clean credit record with BML, have no unresolved Anti-Money Laundering (AML) issues, and hold no ownership stakes in companies registered for longer than one year. The deadline for submitting a 12-page business plan is 14:00 hrs on November 10, 2026.