Company

SME Digital

In the news, last 90 days

Economy SME Digital doubles business financing limit to MVR 10 million SME Digital has raised the financing limits for its Asset Financing, Business Expansion Financing and Vessel Financing facilities from MVR 5 million to MVR 10 million to expand funding access for small and medium-sized enterprises. Vessel Financing covers fisheries and tourism craft such as fishing vessels, dive dhonis, sports fishing boats and excursion vessels, and applications are submitted through the SME Portal on SME Digital's website. 2 outlets 6 days ago Source

Economy BML invites applications for second phase of Youth... Bank of Maldives (BML) and SME Digital have invited applications for the second phase of the Youth Entrepreneurship Financing facility, offering Maldivians aged 18 to 30 financing of up to MVR 150,000 without collateral at a 7 per cent annual profit rate over five years. The first phase provided more than MVR 300 million to over 3,000 young entrepreneurs as part of a wider MVR 1 billion initiative launched in July 2026. 4 outlets 1 Nov Source

Economy Dhanduveri Manfaa scheme application deadline set for 31 Oct The Maldives Agribusiness Programme's second round of Dhanduveri Manfaa grant applications, facilitated by SME Digital, is set to conclude on 31 Oct, covering 26 islands in the three northern atolls. Grants cover 30 to 50 per cent of project costs up to a maximum of MVR 150,000, and SME Digital says applications are being evaluated. 2 outlets 30 Oct Source

Economy RSW financing opens with increased MVR 4 million limit The Refrigerated Seawater (RSW) Financing Scheme run by SME Digital has raised its collateral-free financing limit to MVR 4 million and expanded the facility to cover the installation and replacement of fishing vessel engines, in addition to RSW systems, generator sets and solar panels. Financing carries a six per cent annual profit rate with repayment of up to 10 years including a six-month grace period, funded by the Islamic Development Bank and the Lives and Livelihoods Fund. 3 outlets 30 Oct Source

Economy Small businesses to receive five-year import duty relief under new government initiative President Dr Mohamed Muizzu announced a five-year import duty exemption at zero percent on designated raw materials for MSMEs, effective January 1, 2027, along with measures including a higher GST registration threshold and a tax offset mechanism for government payment delays. He also reported that MVR 795 million in loans had been disbursed to more than 1,000 entrepreneurs during 2026. The Standard 25 Oct Source

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