State company
SME Development Finance Corporation
In the news, last 90 days
Economy
Minister Saeed backs SDFC’s shift to BML, cites sustainable SME...
Minister of Economic Development, Transport and Trade Mohamed Saeed has defended the transfer of the SME Development Finance Corporation to Bank of Maldives, telling Parliament the move frees the institution from reliance on State budget allocations. He said the restructuring, which rebrands the company as SME Digital and places it under BML, aims to sustain financing for micro, small and medium-sized enterprises through digitalisation and stronger corporate management.
Economy
Second phase of Youth Entrepreneurship Financing program, designed to foster young entrepreneurs, officially launched
Bank of Maldives and SME Development Finance Corporation opened applications for the second phase of the Youth Entrepreneurship Financing scheme, offering loans of up to MVR 150,000 to Maldivians aged 18 to 30 at 7% profit per annum with no collateral required. The first phase has concluded with over MVR 300 million provided to more than 3,000 young entrepreneurs.
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