Bank of Maldives (BML) has introduced Chinese Yuan accounts for the first time in the Maldives, marking a significant milestone in strengthening financial and trade ties between the Maldives and China.

The launch event, held this afternoon, was attended by the Chinese Ambassador to the Maldives, His Excellency Kong Xianhua, along with BML Chairperson Ahmed Ali Habeeb, CEO and Managing Director Mohamed Shareef, and members of the board.

With the introduction of the new service, individuals and businesses can now open current accounts in Chinese Yuan through Internet and Mobile Banking. Customers are also able to send and receive international transfers directly in Yuan, while importers and exporters can issue and manage Letters of Credit in the currency, streamlining trade with Chinese partners.

BML has also integrated its services with WeChat, one of the world’s largest payment platforms. Customers can now add their BML-issued debit and credit cards to WeChat Pay for seamless payments in China. For the first time, Maldivians can also receive payments in Chinese Yuan directly into their WeChat Wallet, which can be used for purchases in Mainland China or for transfers through the platform.

In addition, BML announced plans to issue UnionPay cards from January 2026. The service will be made available to both individual and corporate customers, providing access to a global payment network accepted in over 180 countries.