[BCM] [BML] [E3] [BIA] Corporate and BU MBCO

Introduction

As the largest and most systemically important financial institution in the Maldives, Bank of Maldives (BML) plays a critical role in ensuring financial stability, economic continuity, and public confidence in the national banking system.

Disruptions to BML’s services—whether caused by technology failures, natural disasters, cyber incidents, or operational crises—could have far-reaching implications for individuals, businesses, and government operations nationwide.

In line with the requirements of ISO 22301: Business Continuity Management Systems, this chapter defines the Corporate and Business Unit Minimum Business Continuity Objectives (MBCO) for Bank of Maldives.

The MBCO establishes the minimum acceptable level of products and services that must be maintained or restored during a disruption in order for the organisation to continue achieving its critical business objectives.

These objectives are specific,  measurable, and time-bound, providing a clear benchmark for resilience planning, response, and recovery.

Purpose of the Chapter

The purpose of this chapter is to articulate the Bank of Maldives’ minimum service obligations during disruptive events, both at the corporate level and across key business units (Critical Business Functions – CBFs).

By defining measurable MBCOs, this chapter enables management to:

• Set clear continuity thresholds aligned with regulatory, customer, and systemic expectations
• Prioritise recovery strategies and resource allocation during incidents
• Support Business Impact Analysis (BIA), recovery planning, and crisis decision-making
• Demonstrate compliance with ISO 22301 and regulatory expectations for operational resilience

Readers are expected to gain a clear understanding of the minimum level of banking services that the Bank of Maldives must sustain to protect customers, maintain market confidence, and meet statutory obligations during periods of disruption.

Corporate Minimum Business Continuity Objective (Corporate MBCO)

Corporate MBCO Statement (ISO 22301–Aligned)

During any significant disruption, Bank of Maldives shall maintain or restore critical banking services sufficient to support national payment flows, customer access to essential funds, liquidity stability, and regulatory compliance, ensuring that:

• At least 70–80% of systemically critical customer-facing banking services (including deposits, withdrawals, and payments) remain available or are restored within agreed recovery timeframes
• Electronic payment, settlement, and liquidity-supporting services operate at a level adequate to prevent systemic financial instability
• Regulatory, AML, and statutory reporting obligations continue at a minimum compliant level
• Customer communication and support services are available to manage enquiries, incidents, and advisories

This minimum service level shall be sustained until full operational capability is restored, thereby enabling the Bank to continue fulfilling its financial, social, and regulatory responsibilities during a disruption.

Table C1: Corporate MBCO

Business Unit Minimum Business Continuity Objectives (BU MBCO)

The following table defines the minimum acceptable level of service for each Critical Business Function (CBF) during a disruption.

Table C2: Business Unit MBCO

The Corporate and Business Unit Minimum Business Continuity Objectives defined in this chapter establish a clear and measurable baseline for Bank of Maldives’ operational resilience.

By articulating the minimum acceptable level of service delivery during disruptions, BML ensures that its most critical obligations—to customers, regulators, and the national financial system—can be met even under adverse conditions.

These MBCOs serve as a foundational input into Business Impact Analysis, recovery strategy development, and crisis management planning.

When effectively embedded into the Bank’s Business Continuity Management System, they strengthen decision-making during incidents, support regulatory compliance with ISO 22301, and reinforce the Bank of Maldives’ commitment to financial stability, customer trust, and national economic resilience.