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Maldives: BML to Launch New Soft Loan Scheme
Source: haveeru.com.mv
Source Date: Sunday, November 11, 2012
Focus: ICT for MDGs, Knowledge Management in Government
Country: Maldives
Created: Nov 13, 2012

Bank of Maldives (BML) has stated that it had decided to introduce a new loan scheme as a new product.

The bank said that the new scheme would be an extension to its previous soft loan scheme which had been well received by the public.

BML had previously been issuing MVR15,000 loans without mortgage in its soft loan scheme. However BML did not state the ceiling value of the new loan scheme and its interest rate.

BML revealed that many arrangements for introducing the product had been done and that the service will commence soon.

The bank detailed that it has decided to make it easy for the customers of the new loan scheme. In this regard BML said that the new loan scheme will not require submitting quotations.

The new loan scheme will only be targeted for bank customers who get salaries deposited in to their respective BML accounts. BML further stated that the loans will only be issued to those who have deposited their salaries continuously for at least one year out of the applicants who meet the required criteria.

The bank stated that the previously issued MVR15,000 small loans will not be ceased with the introduction of the new scheme.
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