‘Digital wallet’ finance scheme launched for fishermen
The scheme enables immediate payment for fish catches.
21 Feb 2019, 9:00 AM
President Ibrahim Mohamed Solih on Wednesday night inaugurated the Masdhoani Account financial scheme, fulfilling a campaign pledge to include fishermen in the banking system.
“After listening to the complaints of fishermen, we pledged to open the Masdhoani account to enable fishermen to be part of the banking system, to be able to deposit and withdraw money while on their islands,” Solih said at a ceremony on the southern island of Villigili in Gaafu Alif atoll.
“Under this scheme, the payment will be immediately deposited to the account of the head fisherman or boat owner. Then the owners can use the digital wallet with the Masveriya card to transfer payment to the accounts of the fishermen.”
Set up by the Bank of Maldives in collaboration with the fisheries ministry, the scheme allows fishermen to make transactions through a unique card linked to a digital wallet.
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