Managing Director of SME Digital, Badhurudheen Hassan stated that SME Digital aims to partner and facilitate all processes of business, rather than solely focusing on providing financial support.
He said that work is being done to make changes to the management of the digital platform.
Speaking on a PSM News programme, Badhurudheen Hassan stated that in the past seven years, the platform was focused on financialassistance. He noted that, in the future, in addition to financing products, all sorts of digital products designed for micro, small and medium enterprises (MSMEs) will be introduced.
Highlighting the mid-term goals of SME Digital, Badhurudheen stated that, under the government’s “Islamic Financing First” policy, work is also being done to ensure that all services provided by the platform are Shariah compliant.
“We want all services provided by SME Digital to be Shariah compliant. This is why we have begun this work, with work ongoing at great speed. Even when BML first acquired SME Digital and announced this, it was decided to make this a digital first, Shariah compliant subsidiary company under BML. Therefore, that is the aim.” Badhurudheen stated.
While speaking about strengthening management, he stated that in the previous seven years, the company has greatly expanded, with over 100 staff and over 4,000 customers being supported.
As a result, a new structure and policies as well as board and management-level committees have been established in the past six months in a bid to enhance governance.
Badhurudheen stated that these amendments were made to improve management standards in the company to adequate levels according to regulatory bodies, such as the Maldives Monetary Authority (MMA) and Capital Market Development Authority (CMDA).
He stated that, with these important measures, he hopes for SME Digital to provide reliable financial and technical support for small business all under one roof.