Maldives Islamic Bank Celebrates Ten Years Since Inception

Maldives Islamic Bank is the first and fully Shariah-compliant bank in the Maldives that was brought to inception with an aim to provide an alternative to the public and businesses who wish to avail themselves to banking transactions and dealings in strict compliance to Islamic banking principles.

Ten years ago, the Bank began operations with the opening of its main branch in Male’ City – but that was quickly followed by expansion into all major populated islands across the nation. Currently, Maldives Islamic Bank operates 6 branches in 5 atolls across the country.

The bank conducts its business in strict compliance with Shariah principles and guidelines and devoid of any element of interest, Gharar (uncertainty), Maisir (gambling) and unethical practices. They also partake actively in the development and promotion of an Islamic economic and financial system in the Maldives.

On the occasion of their 10^th anniversary, the Bank has announced a promotion whereby those who deposit MVR 20,000 for a minimum period of three months stand a chance to win a motorcycle. This promotion will be valid until 7^th June 2021. 

(Photo: MIB)