President Ibrahim Mohamed Solih has said that banks should provide an opportunity for fishermen to deposit their daily wages into a bank account. He added that this is a method of exposure to other services within the banking system to the public

President Solih said this at an event held at Kooddoo, marking the inauguration of “Masveriya Card”, a Digital Wallet available to fishermen. This card will reportedly allow fishermen to access banking services digitally.

The President said at this event that the “Masveriya Card” will allow the Captain of a fishing vessel to transfer and receive funds immediately after weighing fish that has been caught. The President also added that the card will allow fishermen to transfer and receive funds into and out of bank accounts among the crew.

The President noted that this will bring ease of operations in the field of fisheries in Maldives.

He added that this Digital Wallet will solve the issue of awaiting payment after weighing fish that had been caught in the fishing trip. The President noted that fishermen also do not need to begin yet another journey to collect the payment with this new service.

President Solih said that the fishing vessel owners will also notice an ease of operations with the introduction of the “Masveriya Card”. As such, he said that the purchase of fuel or ice will be made easier with the availability of this card.

The President said that no additional fees will be taken for financial exchanges with the card.