/ Maldives

Overview

Maldives comprises an archipelago of 1,200 coral islands in South Asia and shares a maritime border with India and Sri Lanka. With a population of c.550,000, tourism contributes 40% of Gross Domestic Product (GDP), 80% of total exports and over half of total revenues. The service sector (including tourism) makes up c.81% of GDP, followed by the industrial sector at c.16%, and agricultural production predominantly fishing at c.3%. The fisheries sector employs 20% of the Maldivian labor force. Thailand, United Arab Emirates, China, India, Germany, Singapore, France, United States and Sri Lanka are Maldives’ largest trading partners.

Bancstac supports strategic bank partners in Maldives by enhancing their online payment capabilities across the nation’s 26 atolls. We make it easy and cost effective for local businesses to accept online payments globally.

Strategic bank partners