Maldives Islamic Bank Increases ‘Ujaalaa Dhiriulhun’ Facility Limit

The most in-demand consumer good in the market according to Maldives Islamic Bank is the facility of Ujaalaa Dhiriulhun Financing service provided by the bank. Designed to assist individuals who are seeking to purchase a wide variety of lifestyle consumer goods, the service is based on the Islamic finance concept of Murabaha. 

The now better and improved facility comes with an increased limit of up to MVR 400,000 without any advanced payment and the bank has also included motorbikes in the list of items that can be purchased under the scheme. The loan repayment duration flexibly extends from 18 to 48 months, as customers find it convenient.  

Customers aged 18 and above who are employed with an employer accepted by the bank, or have a rental income at any Bank in the Maldives are eligible to apply for the facility. The service can be attained within 2 days of request and goods will be delivered within one day.  

Find out more about the facility here.