Bank of Maldives (BML) has announced the launch of Chinese Yuan accounts for the first time in the Maldives.

The launch event, held on Monday, was attended by Chinese Ambassador Kong Xianhua, BML Chairperson Ahmed Ali Habeeb and CEO and Managing Director Mohamed Shareef.

"Today marks a significant leap forward in modernizing the Maldives' financial landscape. By integrating with one of the world's largest economies and most widely used payment platforms, we are providing even greater convenience for our customers," Shareef said at the event.

"These services will allow our business community to trade efficiently and offer unprecedented convenience for individuals, reaffirming our commitment to providing innovative and customer-centric solutions," he added.

The national bank said Chinese Yuan accounts are available for individuals and businesses on Internet and Mobile Banking.

Businesses and individuals can send and receive international transfers (TT) directly in Chinese Yuan while importers and exporters can issue and manage Letters of Credit in Chinese Yuan.

BML customers can also add BML-issued MVR Visa and Mastercard debit and credit cards to WeChat Pay to make payments to merchants in China.

During the event, BML announced its plans to issue UnionPay cards to individual and corporate customers from January 2026.