The Ministry of Economic Development and Trade on Monday highlighted Bank of Maldives’ (BML) acceptance of RuPay payment option a significant milestone.
The ministry in its statement said that this marks a major step towards financial integration and the modernization of payment systems in the Maldives – which was conducted in the presence of President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi in New Delhi.
“This landmark initiative is expected to significantly enhance digital transaction capabilities between the two nations, streamlining financial operations and fostering stronger economic ties.”
The ministry further emphasized that the introduction of the RuPay card in the Maldives is “set to greatly benefit Indian travelers” who constitute a crucial segment of the Maldivian tourism market.
“Indian travelers can now enjoy seamless transactions using RuPay cards during their stay in the Maldives.”
The Economic Ministry further said that, as major trading partners, India and Maldives stand to gain significantly from this development, making bilateral trade more efficient and accessible, particularly for small and medium enterprises.