Residents and businesses in Mahdia will soon have direct access to banking services for the first time, ending a longstanding challenge for communities in Region Eight.
On Friday, President Dr Mohamed Irfaan Ali announced that a commercial bank will open a representative office in Mahdia within weeks.
The move will allow residents to deposit and withdraw funds, access loans, and manage their accounts locally instead of having to travel to Georgetown, aligning with the government’s commitment to bring essential services to every region, including the hinterland.
The president revealed that after dialogue with the financial sector, arrangements have been made for one of the country’s commercial banks to establish a representative office in Mahdia, which will operate two days per week.
“You don’t have any banks with a branch here. That is why we’re speaking with the sector, and they have promised us that in the coming weeks, they will set up a representative office here in Mahdia,” the president informed a large gathering at a PPP/C rally.
In addition to the representative office, President Ali said that another service provider has committed to installing ATMs in Mahdia and the surrounding communities.
“We’ve already heard from another provider that they’re going to put in ATM machines here in Mahdia and surrounding communities so that we can bring financial services to you,” the president noted.
The lack of banking services has posed a challenge to economic growth in Region Eight, especially for small business owners, miners, and residents who often face high costs and delays in accessing their funds.
In some cases, persons are forced to pay high fees to change cheques or are pressured into unfair business arrangements due to limited access to credit and financial systems.
This announcement aligns with the government’s broader vision for Region Eight, which includes investments in infrastructure, housing, energy, agriculture, tourism, and education.
By building out core services like banking, the administration is aiming to create a more enabling environment for greater economic development in the hinterland.
“We want to build a financial system nationally that will take care of your needs here in Region Eight,” the head of state emphasised.
