Bank of Ceylon celebrates 43 years of banking excellence in Maldives

Bank of Ceylon celebrates 43 years of banking excellence in the Maldives with a special customer felicitation ceremony.

The Bank of Ceylon, one of the most esteemed financial institutions in the Maldives, commemorated its 43rd anniversary on May 28th 2024, marking over four decades of distinguished service and significant contributions to the economic development of the island nation.

Established on 7 May 1981, and granted its banking license on 26  January 1982, the Bank of Ceylon has been a pillar of financial stability in the Maldives, earning a reputation for reliability, stability, and customer-centric service as one of the oldest and most respected banks operating in the country.

“The Bank of Ceylon’s 43 years of dedicated service in the Maldives is a testament to our unwavering commitment to support the economic growth and development of this beautiful and dynamic island country,” said Mr. Kavan Rathnayaka, the Chairman of Bank of Ceylon. As we celebrate this remarkable achievement, we reaffirm our dedication to further strengthening our partnerships, driving innovation, and fostering financial inclusion to contribute to the continued prosperity of the Republic of Maldives and it’s people.

Under the pioneering leadership of its first Country Manager, M S M Liyawdeen, the Bank of Ceylon, Maldives has embarked on a journey marked by notable achievements. Over the years, the bank has financed numerous pivotal projects in the government sector, including the upgrade of Male International Airport Phase IV, the purchase and repair of Surveillance, Fire Fighting and Coast Guard Vessels, the upgrade of the internal flooding system, and the construction of various government buildings. Additionally, the Bank has provided budgetary support credit facilities to the Government and State-Owned Enterprises.

Beyond the government sector, the Bank of Ceylon, Maldives has been a key financier for major projects in Resort Development, Tourism, Construction, Real Estate, and businesses in the wholesale and retail sectors. Bank has taken part in providing credit facilities at the inception of Guesthouse business in Maldives and built many success stories for Startups.