Bank of Maldives Launches ‘Swipe’ – A 100% Maldivian Digital Wallet for Global Payments

In a landmark step toward financial innovation, Bank of Maldives (BML) has unveiled Swipe, a fully Maldivian-developed multicurrency digital wallet designed to enable seamless, instant, and secure payments both locally and internationally. The new platform marks a major milestone in positioning the Maldives and its fintech talent on the global digital finance map.

The official launch ceremony was held today, graced by President Dr. Mohamed Muizzu, who inaugurated the wallet alongside BML Chairperson Ahmed Ali Habib and CEO and Managing Director Mohamed Shareef. The event celebrated Swipe as a transformative initiative that reinforces BML’s vision of becoming the leading digital bank in the region.

Speaking at the ceremony, CEO Mohamed Shareef highlighted that the creation of Swipe fulfills a key commitment made by President Muizzu—to enable Maldivians to send and receive money easily through world-recognized digital wallets and to trade globally through forex and trading platforms. He explained that the project, developed in partnership with the Ministry of Economic Development, was spearheaded by the bank’s Chief Technology Officer and a team of young, skilled Maldivian developers over the past 12 months.

“BML’s international wallet ‘Swipe,’ which we introduced today, will begin service before the end of the year,” Shareef announced. “With it, skilled Maldivian professionals will be able to receive payments from abroad instantly without additional charges. Tourists visiting the Maldives will also benefit from a local payment platform that simplifies transactions. This innovation will make financial transactions faster, more accessible, and more cost-efficient for individuals and businesses alike.”

BML emphasized that Swipe is designed to empower Maldivian entrepreneurs and youth by making cross-border transactions easier and more affordable, ultimately helping to increase foreign currency inflow into the country. The bank further stated that the wallet operates on par with other international digital wallets, enabling global users to transact with the Maldives seamlessly.

“This wallet, like others worldwide, can be used by anyone from any country,” the bank noted, adding that Swipe will serve as a solution to many of the foreign currency challenges faced by young Maldivians. The wallet will allow users to receive money instantly with no fees, helping to boost exports of Maldivian products and support the tourism industry by facilitating easier payments for visitors.

BML underscored that Swipe is not only a financial innovation but also a symbol of national capability. As a 100% Maldivian creation, it showcases the country’s growing pool of fintech talent and technological expertise. The bank stated that the wallet’s development represents a bold step toward connecting the Maldives with the global financial ecosystem while strengthening its digital economy.

With Swipe, the Maldives takes a decisive leap into the future of fintech—bringing the nation’s digital aspirations closer to reality and setting a new benchmark for locally driven innovation in the region.