Mastercard has presented the Bank of Maldives (BML) with a special recognition award for its instrumental role in advancing the Maldives’ digital economy through the Digital Country Partnership initiative.

The award was presented to BML’s Chief Executive Officer and Managing Director Mohamed Shareef by Mastercard’s Country Manager for Sri Lanka and the Maldives, Sandun Hapugoda, during the Digital Finance Leadership event held in Singapore.

The Digital Country Partnership, established in August 2025 between the Ministry of Homeland Security and Technology, BML, and Mastercard, aims to accelerate the Maldives’ digital transformation and promote innovation.

The initiative focuses on modernising the country’s digital infrastructure and expanding access to secure, efficient financial and digital services for individuals, businesses, and communities across the archipelago.

Since becoming a Principal Member of Mastercard in 2002, BML has collaborated with the global payments company on several landmark projects that have reshaped the nation’s financial ecosystem.

Among them is the integration of digital payment solutions for the Raajje Transport Link (RTL) network, a key component of the government’s smart city initiatives.

BML stated that the recognition from Mastercard underscores the bank’s continued leadership in leveraging technology and strategic partnerships to drive economic growth and innovation in the Maldives.

The bank reaffirmed its commitment to advancing the country’s digital transformation journey through collaboration and cutting-edge financial solutions.