Bank of Maldives (BML) has introduced new international banking features through its Swipe digital wallet, allowing customers to open international accounts with their own International Bank Account Number (IBAN) and receive overseas payments instantly.
According to BML, the new service enables customers to create international accounts in three major currencies — US dollars (USD), euros (EUR), and British pounds (GBP). The accounts are designed to make it easier for individuals and businesses to receive funds directly from overseas bank accounts.
The bank said international transfers sent to these accounts will be credited instantly to the customer’s Swipe wallet, giving users immediate access to their funds without delays.
BML also confirmed that customers will not be charged any fees for peer-to-peer (P2P) transfers received through Swipe.
BML Chief Executive Officer and Managing Director Mohamed Shareef described the new feature as one of the bank’s most anticipated services.
He said the launch would particularly benefit freelancers, entrepreneurs, and businesses that regularly receive payments from international clients and partners.
“This service allows customers to receive payments as easily as if they had a local bank account in another country,” Shareef said. “It is another important step towards making Swipe a complete digital payments platform while supporting innovation and economic activity in the Maldives.”
BML noted that more than 20,000 customers are already using Swipe following its launch earlier this year.
The bank also revealed that over 3,300 merchants have adopted the platform, describing Swipe as one of the country’s fastest and most cost-effective digital payment solutions for businesses.
