SME banking, a finance service aimed for small and medium enterprises, has been inaugurated in the country today by the President, Ibrahim Mohamed Solih with the opening of the SME Development Finance Corporation (SDFC).

The SME finance aims to provide loans for four main sectors in the form of, transportation, business, farming and consumer goods.

While the SME banking services are aimed at small and medium businesses, President Solih said that SME bank would have a branch for the women, youth and peopled with disabilities.

Introduction of SME banking is part of the administration's pledges for the first 100 days of government.