Bank of Maldives (BML) today announced the launch of Liveaboard Finance, a dedicated financing solution for the Maldives' liveaboard tourism segment.
The Bank said that the facility covers the purchase, construction, mechanisation, or renovation of liveaboard vessels, along with related equipment and gear, giving operators the flexibility to expand their fleets, modernise ageing vessels, or bring new builds into service.
The facility offers the lowest vessel financing rates available in the country at 9.5% per annum, with the financed vessel itself accepted as collateral and no additional collateral required.
Financing amounts are determined by the vessel's price and BML's credit assessment, with customers required to contribute a minimum of 30% equity.
Repayment tenors extend up to seven years and are structured around the sector's peak and off-peak seasons, allowing operators to align repayments with actual revenue rather than a fixed schedule. Repayments are accepted in USD.
The initiative is expected to ease access to capital for established operators looking to renovate or expand their fleets, as well as new entrants seeking to build or acquire vessels. BML has long been a financial partner to the Maldivian tourism industry, supporting resorts, guesthouses, and operators nationwide.
