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Maldives Banks include primarily the Bank of Maldives, the country's first commercial bank. It was established in 1982 and was collaboration between the International Finance Investment Company Limited, Bangladesh (the IFIC Bank) and the government of Maldives. It became completely state owned by 1993. The country's first bank was ,however, the Maldives Monetary Authority set up in 1981.Maldives had a branch of the Habib Bank of Pakistan which was established way back in 1976 and a couple of branches of the Bank of Ceylon.
The Bank of Maldives PLC started its commercial operations with 60% of the shares owned by the government and the rest by the IFIC Bank. The primary business of the Bank comprised of retail banking. Its facilities also include on line banking. The infrastructure is up to date and fully computerized. The Bank of Maldives has around 17 branches across the country. Out of these 12 branches are scattered throughout the various atolls, three of them are in the capital city of male. One branch is located in the Male International airport and the other one in Villingili.
Most Maldives banks have ATM machines distributed across the capital city. The ATMs of Bank of Maldives and other banks enable easy transactions. They also offer credit cards services for major credit cards.
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