Applications opened in BML for second moratorium on loans

Bank of Maldives (BML) head office in Malé City. Photo: BML

Malé, Maldives — Applications were opened in BML on Tuesday for its second moratorium.

The applications are only opened for customers with personal, housing and business loan moratoriums with repayments due to start this September.

The customers that are eligible for this application are required to log in to the moratorium portal on BML’s website,, to apply for the moratorium.

The loans that will be available for the second moratorium and the new repayment amounts can be viewed through the portal, according to the BML.

BML had initially pushed back loan repayments by a six-month period on March. This was to reduce the financial repercussions on businesses and individuals due to the ongoing Covid-19 pandemic.

However, the announcement of the second moratorium at the end of August has further extended the deadline of the repayments until December 2020.

According to BML, the applications for the second moratorium with repayments due to start in October and November will be accepted from October 8 and November 8, respectively.

BML has also stated that they will be issuing a separate announcement once the second moratorium application process is open for customers of BML’s Islamic banking branch.