Maldives Islamic Bank (MIB) digital banking review
Updated October 13, 2026 · SumCue Editorial Team
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Our verdict
For residents in Maldives who want faith aligned everyday banking, Maldives Islamic Bank digital banking provides Islamic deposit and financing products for individuals and businesses. It combines digital account opening with international transfers and contactless payments for modern daily use.
Key facts
Loans
- APR
- 10% to 15%↗
- Loan amount
- MVR 25,000 to MVR 700,000↗
- Term
- 18 to 60 months↗
- Arrangement fee
- Processing Fees: Charged as per the published rate on the List of Bank Charges↗
- Funding time
- 3-5 working days to process the application; goods obtainable on the same day once the limit is approved↗
- Rate type
- Variable↗
- Lender type
- Direct lender↗
- Free early repayment
- Yes↗
- Eligibility
- Maldivian with a valid identification card, at least 18 years of age, living and working in the Maldives, employed 12 months and 6 consecutive months with the current accepted employer, guarantor not required↗
- Loan types
- Personal, Car, Cash-advance↗
- Use cases
- Home-improvement↗
- Pricing model
- Fixed rate
Savings
Mortgages
Facts checked September 26, 2026, 9 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
Pros and cons
Pros
- Offers Islamic deposit and financing products for individuals and businesses in Maldives
- Provides fully digital business account opening usable anywhere and at any time
- Supports international transfers to bank accounts and wallets across multiple destinations
- Provides compact contactless payment device that attaches to phones and wallets
Cons
- Serves individuals and businesses in Maldives, giving it a narrow geographic focus
- Everyday use centres on digital tools and contactless payments for daily control
Who it suits
- Residents in Maldives seeking faith aligned everyday banking
- Business owners seeking digital account opening and expansion support
- Senders moving funds to bank accounts and wallets abroad
Who should look elsewhere
- People living outside Maldives
How Maldives Islamic Bank (MIB) digital banking compares
Where Maldives Islamic Bank (MIB) digital banking is available
- Available
- Maldives
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
Where does Maldives Islamic Bank operate?+
The bank operates in Maldives for individuals and businesses. Business accounts open through fully digital processes usable anywhere and at any time. A Sales Centre and ATM service supports customers in Sh. Funadhoo for daily needs.
How do international payments work?+
International transfers reach supported bank accounts and wallets across multiple destinations through FaisaNet. A dedicated corridor between India and Maldives supports cross border digital payments that are simpler and more convenient. It serves senders moving funds to family, work and business contacts abroad.
Who is Maldives Islamic Bank suitable for?+
The service is designed for residents in Maldives who want everyday banking aligned with Islamic principles. It supports business owners who prefer digital account opening and working capital support. It also helps people sending funds to bank accounts and wallets abroad.
Where is Maldives Islamic Bank (MIB) digital banking based?+
Maldives Islamic Bank (MIB) digital banking is based in Maldives. (Source, checked September 26, 2026)
When was Maldives Islamic Bank (MIB) digital banking founded?+
Maldives Islamic Bank (MIB) digital banking was founded in 2007. (Source, checked September 26, 2026)
How can I contact Maldives Islamic Bank (MIB) digital banking support?+
Maldives Islamic Bank (MIB) digital banking offers support through Phone, Chat, Help-centre. (Source, checked September 26, 2026)
Sources
- mib.com.mv checked September 26, 2026
Backs: Headline rate, Legal entity, Support channels
“General Investment Account (GIA) Profit Performance for August 2026: 2.03% 3 Month Individual, 2.43% 12 Month Individual”
- mib.com.mv/about-us checked September 26, 2026
Backs: Lender type
“Maldives Islamic Bank, the first and fully Shariáh compliant bank in the Maldives is a collaboration between ICD (IsDB) and the Government of Maldives”
- mib.com.mv/personal-deposits/savings checked September 26, 2026
Backs: Access terms, Account kind, Minimum deposit, Rate type
“with convenient access to your funds at any time”
- mib.com.mv/personal-financing checked September 26, 2026
Backs: Loan types
“Ujaalaa Dhiriulhun for LifeStyle Financing; Ujaalaa Ulhandhu for Vehicle Financing; Ujaalaa Cash for Cash options”
- mib.com.mv/personal-financing/ujaalaa-dhiriulhun checked September 26, 2026
Backs: Loan amount, APR, Eligibility, Free early repayment, Funding time, Pricing model, Arrangement fee, Term, Use cases
“Financing Amount - Minimum: MVR 25,000; Maximum: MVR 700,000”
- mib.com.mv/personal-financing/ujaalaa-hiyaa checked September 26, 2026
Backs: Fixed period, Initial rate, Maximum loan to value, Purpose
“Maximum financing duration is 25 years / 300 months”
- linkedin.com/company/mibmv checked September 26, 2026
Backs: Founded
“Maldives Islamic Bank founded in 2007”
- mib.com.mv checked September 26, 2026
Backs: Headquarters
“Maldives Islamic Bank PLC based in Male, Maldives”
- mib.com.mv/e-banking/debit-card checked September 26, 2026
Backs: Card type, Currencies, Features, Card network
“VISA Everyday Card, VISA Platinum Card, VISA Business Card - debit card options”
Compiled from 9 source pages, checked October 13, 2026. We did not open an account.
Not confirmed yet: Monthly fee, Currency conversion fee, Free ATM withdrawals, Protection.
Maldives Islamic Bank (MIB) digital banking
Islamic everyday and business banking in Maldives