Credit Guarantee Scheme (CGS) for Small Medium Enterprises (SME) was launched by Maldives Monetary Authority with the purpose of increasing and strengthening financial inclusion and to provide easy access to credit.


  • SME registration at Ministry of Economic Development
  • MIRA registration
  • SMEs must be owned by Maldivians
  • No unpaid dues to banks or any financial institution
  • Existing credit facilities must not exceed MVR 100,000, excluding housing/ home loans and student loans.
  • Financially viable business

Loan Details:

  • Loan amount: Between MVR 100,000 – MVR 1,000,000
  • Interest rate: upto 9% plus annual premium of 1%
  • Repayment period: up to 5 years
  • Grace period: 6 to 12 months
  • Equity contribution: 20%

Please refer MMA website for current instructions.

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