[BCM] [BML] [E1] [C1] Overview of BCM Implementation for the Bank of Maldives

[x]

eBook 1: Chapter 1

Overview of BCM Implementation at the Bank of Maldives

Introduction

As the country’s largest and most significant banking institution, BML is expected to deliver uninterrupted critical financial services while operating within a complex operating environment characterised by geographic dispersion, climate-related risks, technology dependence, and evolving regulatory expectations.

This eBook, “Understanding Your Organisation: Bank of Maldives”, is the first in a three-part series titled “Ensuring Service Continuity and Compliance: ISO 22301 BCMS at Bank of Maldives”.

It establishes the foundational understanding required by ISO 22301 Clause 4 (Context of the Organisation) and related clauses that underpin an effective Business Continuity Management System (BCMS).

Before continuity strategies, plans, and response mechanisms can be designed, the organisation must first understand itself—its purpose, operations, risks, dependencies, and obligations.

The objective of this eBook is to guide the Bank of Maldives through a structured examination of its organisational context, operational landscape, and continuity requirements.

It introduces the principles of Business Continuity Management (BCM) in the context of BML, ensuring alignment with ISO 22301 requirements, local regulatory expectations, and sound international banking practices.

Particular emphasis is placed on supporting regulatory resilience expectations for licensed financial institutions, including protecting depositors, maintaining confidence in the financial system, and ensuring the continuous delivery of essential banking services.

Structure of the eBook

This eBook systematically addresses key foundational elements required for BCMS establishment, including:

A clear introduction to BCM and its relevance to the Bank of the Maldives
An understanding of BML’s operational structure, service delivery model, and organisational complexity
The identification of BCM goals and business continuity objectives is aligned with strategic, regulatory, and customer expectations
The establishment of realistic assumptions to guide BCM planning and decision-making.
The formation of a competent BCM team with defined roles and responsibilities
An analysis of the internal and external operating environment, including regulatory, technological, and environmental factors
The introduction of a structured BCM planning methodology consistent with ISO 22301;
A systematic assessment of risks and threats that could disrupt critical services
The identification of critical business functions that must be prioritised for continuity and recovery.

By completing this eBook, Bank of Maldives will have laid a solid, auditable foundation for subsequent phases of BCM implementation.

The outputs from this stage will directly support risk-based decision-making, regulatory compliance, and organisational resilience, and will form essential inputs to the second eBook, “Implementing Business Continuity Management for the Bank of Maldives.”

Establishing the Foundation for an Effective BCMS at Bank of Maldives

This chapter concludes the first and most critical step in the Bank of Maldives’ Business Continuity Management journey—understanding the organisation in accordance with ISO 22301 requirements.

A robust BCMS cannot be effectively designed, implemented, or sustained without first establishing clarity around the organisation’s context, priorities, risks, and regulatory obligations.

Through this eBook, Bank of Maldives has systematically addressed the key elements required by ISO 22301 Clauses 4, 5, and 6, including understanding organisational purpose, internal and external issues, stakeholder expectations, continuity objectives, and governance structures.

Identifying BCM goals, business continuity objectives, and critical business functions ensures continuity efforts remain focused on protecting what matters most: essential banking services, customer trust, regulatory compliance, and financial stability.

Equally important, this foundational work supports the Bank of Maldives’ responsibility as a regulated financial institution to demonstrate operational resilience, preparedness for disruption, and the ability to respond effectively to incidents that could impact the Maldivian financial system.

By analysing its operating environment and assessing relevant risks and threats—including geographic, technological, and environmental factors—BML strengthens its ability to anticipate disruptions rather than merely react to them.

Outcome of eBook

The outcomes of this eBook provide the necessary inputs for the next stage of the BCMS lifecycle.

With a clear understanding of the organisational context, governance, assumptions, and criticality, Bank of Maldives is now well positioned to progress to eBook 2: “Implementing Business Continuity Management for the Bank of Maldives”, where strategies, plans, and recovery capabilities will be developed in detail.

Ultimately, this foundational phase reinforces that business continuity is not a standalone compliance exercise but a strategic capability that enables Bank of Maldives to safeguard service delivery, meet regulatory expectations, and maintain public confidence—regardless of disruption.

Ensuring Service Continuity and Compliance: ISO 22301 BCMS at Bank of Maldives
eBook 1: Understanding Your Organisation: Bank of Maldives
C1	C2 [x]	C3 [x]	C4 [x]	C5 [x]	C6 [x]

C7 [x]	C8 [x]	C9 [x]	C10	C11 [x]	C12 [x]

More Information About Business Continuity Management Courses

To learn more about the course and schedule, click the buttons below for the BCM-300 Business Continuity Management Implementer [B-3] course and the BCM-5000 Business Continuity Management Expert Implementer [B-5].