If you would like to close an account, you are required to visit one of our branches with your NID and a signed letter stating the reason for closing the account.

You can open a GIA account if you have an active current/saving account at MIB, by submitting an Account opening application form along with your valid NID copy. Please note that an initial deposit of a minimum of MVR 5,000 is required to open a GIA account. 

You can submit your application through ApplyNow portal anytime.

To request USD purchase for medical purpose, you must request a WEEK before the departure, and must attach the following documents in your email to tradefinance@mib.com.mv  

•  Aasandha approval letter OR specialist/doctor referral letter / medical documents 

• Patient passport copy 

• Confirmed ticket copy 

• ID cards copy of person collecting the dollars (indicate relationship with the patient) 

• contact number

• mention required amount 

Please note it is a requirement to submit the original documents at the time of dollar sales. 

Record clearance form submission can only be made after requesting for an appointment via our Antqueue service application.  

Please take a token from MIB > Credit Admin and Trade Finance > Token for information, reference letters, statements & legal forms. Token no. can be taken from 09:30 to 12:00 on banking days 

If you would like to cancel a transaction, kindly please forward us a message from FaisaNet requesting to cancel the transaction with a screenshot of the transfer slip with the reason stated. 

Or  

Send a message with the following details 

• Transaction date 

• Amount 

• Reference Number 

• Reason to cancel the transaction 

You may take bank statements by logging in to FaisaNet.

Follow these steps below once logged in. 

• Accounts > Select account number > Choose the preferred date (From- To) 

Kindly please fill in the requisition form and upload via apply now portal to request for a reference letter. You can download the relevant form from our downloads section

Please note that as per bank's schedule of charges, an amount of MVR300 will be charged for the letter. 

Islamic Shariáh or the divine law of Islam is derived mainly from the following two primary sources:

• The Holy Quran

• The Sunnah of the Holy Prophet (Peace Be Upon Him)

And in the absence of absolute proofs from the above primary sources, Shariáh ruling is derived from the following secondary sources as well:

• Ijma' (consensus of the scholars)

• Qiyas (analogy)

• Istihsan (juristic preference)

• Maslahah Mursalah (unrestricted public interest)

• ‘Urf (recurring practices acceptable to people of sound nature)

• Istishab (presumption of existence or non- existence of facts

• Sadd Al-Dhara’i’ (blocking the means lead to evil)

• Fatwa of Sahabah (opinion of the Companions of The Prophet, Peace be upon Him)

The main difference between Shariáh compliant banking and conventional banking is that Islamic teachings says that money in itself has no intrinsic (fundamental) value and forbids people from profiting by lending it, without accepting a level of risk – in other words, interest (known as "Riba") cannot be charged on money.

 To generate money out of money is prohibited- wealth can only be generated through legitimate trade and investment. Any gain/profit related to this trade/investment is shared between the person providing the capital and the person providing the expertise (Mudaraba). At Maldives Islamic Bank, we generate all our profits through Shariah compliant trading and investment activities. We then share the profits with our customers at a pre-agreed ratio. In order to share profits you must hold one of our savings or investment accounts.

Islamic banking is a system of conducting trade and banking activities in line with the principles of Islamic Shariáh while avoiding all the prohibited activities such as interest or Riba, Gharar (uncertainty), financing of haram trade and businesses. It is not banking which is based on pricing money and earning interest as conventional interest-based banks do but it is a system of trade where goods and services are sold and capital is invested by taking risk to earn halal profits. It is also not just change of name as misunderstood by many people, but it is based on the Quranic injunction of 'Allah has permitted trade and forbidden Riba'. Interest free banking is a subset of Islamic banking concept.

We publish the profit rates for each month at the beginning of the subsequent month. It is updated regularly on our website.

Simply submit an application through ApplyNow portal to open an investment account. The profit rates earned for each month are published in at the beginning of the subsequent month. You may refer to the List of Bank Charges to learn more about Profit Sharing Ratio offered to various accounts.

Parents or Guardians with the mandate to operate the account can request to add the associated account to their profile in FaisaNet. Please submit your request through ApplyNow Portal.

The authorised person will need to visit the branch in order to withdraw from a kids account. You will not be able to do any transactions online for kids account

You can simply download a statement for the desired period using FaisaNet.

You can follow the process below to fetch your statement.

Accounts > Select account number > Choose the preferred date (From- To) 

No. We encourage you to use our online banking service FaisaNet and FaisaMobile to monitor your account and take statements.

We provide cheque books to the holders of current accounts only. Please note that there is a fee charged as per the List of Bank Charges for issuance of cheque books.

The same account can be transferred to the child once the child is 18 years old. Please visit the nearest branch to complete the formalities.

• Valid ID card of the Child

• Valid ID card of the Parent/ Guardian who will operate the account

• Birth Certificate will be required for Children who are above 10 years.

• For children under guardianship official documents that show the guardianship is require

• A valid ID card.

• If you are unable to sign we require a recent passport picture.

• MVR 1000 for MVR accounts

• USD 100 for USD accounts

• Funds that are sent before 12pm of a working day will usually be credited to your account in the afternoon of the same day.

• Funds that are sent after 12pm will be credited to your account on the morning of the subsequent working day.

Yes you can open both USD and MVR investment accounts accounts.

You can refer the Monthly Profit Rates that are published by the bank every month which shows how much profit was earned by each type of deposit in the pervious month. You can download this report from our website.

We will provide you Financial Planning assistance on how to structure your Investment to ensure that you are able to maximise profits while having access to funds when you need them. Send an email to deposits.business@mib.com.mv with your requirements and our associates when assist you.

You can send a request to withdraw. Please note that based on the terms and conditions of GIA you maybe foregoing all profits by withdrawing before the maturity date. Please inquire within to find out how this affects your GIA

The Profit Sharing Ratios with applicable tenures are published on the List of Bank Charges. You can download this document from our website.

Eligibility

1. Maldivian Citizen

2. Must be at least 18 years old and should not be more than 65 years old by the end of the tenure period

3. Should be employed and living in the Maldives or should receive rental income from Maldives.

4. Should be continuously employed for a minimum of 6 months and in the current job for a minimum of 3 months.

5. Minimum salary of MVR 4000 per month or rental income of minimum MVR 10,000 month

• Must be a Maldivan Citizen

• Must be at least 18 years old and should not be more than 65 years old by the end of the tenure period

• Should be employed and living in the Maldives or should receive rental income from Maldives.

• Should be continuously employed for a minimum of 6 months and in the current job for a minimum of 3 months.

• Minimum salary of MVR 4,000 or rental income of minimum MVR 10,000 per month

Submit quotations for the required goods from any of our Dealer Network shops and you will be able to receive the goods on the same day¹. You can submit quotes through ApplyNow Portal.

¹Subject to cut off time of the bank.

No.

Processing fees will be charged as per the List of Bank Charges

You can submit the fully completed application form together with the required documents either to the Branches or through ApplyNow portal. For Main Branch please proceed to 3rd floor.

Yes. You will need an active account with MIB to be able to submit the application for this facility.

• Salary deduction - Payments will be deducted from salary by employer.

• Salary Transfer – Once Salary is deposited to account at MIB, Bank will deduct the monthly payment.

• Rent Income - Once Rent is deposited to account at MIB, Bank will deduct the monthly payment.

Note:  It is the responsibility of the customer to check if the monthly payments are deducted for the facility regularly.

You can purchase almost all types of goods that are available through our Partner Dealer Network can be purchased through this facility. The most popular categories include:-

1. Mobile Phone and Electronics

2. Computers and Laptops

3. Outboard Engines

4. Motorbikes

5. Jet Ski

6. Construction Material

7. Household items

8. Household electrical items

9. Rashu Pickup

10. Furniture

For application processing it may take 3 -5 working days. Once the limit is approved and upon acceptance of the facility (by signing the agreements),  you will be able to purchase goods until your credit limit is reached or till the limit expires¹. During this stage customers will be able to submit quotes and get goods on the same day².

¹Limit will be expired within 6 months from the approval date

²Subject to daily cutoff time.

The facility limit details will be provided upon evaluation by the relevant department. You may use guidance from our broachers and/or website for calculation of the Ujaalaa Dhiriulhun Financing Limit.

If your income support for an additional facility, you may apply for another financing facility.

• To apply for Ujaalaa dhiriulhun, submit the application form along with the supporting documents via applynow portal in our website. 

• Applicant's Documents

• Application form 

• ID card copy 

• 6 month Bank Statement 

• 6 month Salary slip 

• Employment letter 

• Documents for Guarantor

• ID card copy 

• Employment letter

• If not employed by an accepted employer – 03 month bank statement

• If Guarantor receives rental income- Rental agreement, 6 month Bank account statement and copy of Registry/utility bill

Once the application is submitted via Apply now portal, Department will process the application and inform to sign the agreement. After agreement signing you may submit Quotation and get the goods 

In addition to personal funds you can also collateralize your collateral pension fund balance. Please note that for personal funds you will need to do a Customer Due Diligence (CDD) to show the source of funding if requested.

The following persons are eligible to become a co-applicant.

1. Spouse

2. Parents

3. Own Children

The maximum tenure is 20 years. However this is on the precondition that the main and co-applicants of the facility are below 65 years of age at the end of the tenure period.

We do not require a guarantor for this facility.

• Age of all the applicants must be between 18 and 60

• Must employed (permanent job) or receive rental income regularly

• The monthly payments (inclusive of all other outstanding loans and facilities to all other financial institutions) should not exceed 50% of the cumulative monthly income

Financing rate for Ujaalaa Hiya is 9% to 11%

• A maximum of 3 months grace period is applicable for completed properties . The Rental (Profit) payments for the grace period will be spread across the approved tenure

• If the property is under construction, you will be only required to pay a % of the monthly payment based on the completion stage. Please inquire within for more details.

You can purchase the following types of homes

• Completed Flats and Row houses

• Approved projects of Flats and Row houses that are currently under construction.

In addition to personal funds you can also collateralise your pension fund balance. Please note that for personal funds you will need to do a CDD to show the source of funding if requested.

The customer must pay a minimum of 20% of the value equity upfront payment.

• Making a booking with the Seller

• Submission of the application form

• Signing of the agreement once facility is approved

• Paying the equity component to the seller

• Receiving the keys/access to the premises.

• Mortgaging after completion of registration process

Documents required from the applicant

• Completely Filled Application Form

• Copy of National Identity Card

• Employment letter stating the type of employment (permanent or contractual), date of commencement, and salary details, including basic salary, fixed allowances, variable allowances, and deductions.

• Salary slips of last 6 months

• Bank statement for last 6 months 

Documents required from the guarantor

• Copy of National Identity Card

• Employment letter stating the type of employment (permanent or contractual), date of commencement, and salary details including basic salary, fixed allowances, variable allowances, and deductions.

Documents from Seller and details of the Car and Garage

• Seller's ID Copy

• Quotation of the vehicle from the seller

• Registration copy, if registered /  import documentation, if not registered

• Garage Permit

• No-objection letter from the garage owner

• Garage owner's ID card copy

There are no restriction on dealers as long as the vehicle is eligible under the requirements of this facility.

• Must be a Maldivian citizen

• Must be between 21 and 60 years old

• Must be employed and living in the Maldives

• Must earn a minimum of MVR 10,000 per month

• Must work at a MIB Partner Employer for the past 1 year or is a Salary Transfer customer continuously for the past 1 year.

• A citizen of Maldives

• Must be between the age of 21 and 60

• Must be employed and live in the Maldives.

• Should be employed with a MIB Partner Employer or a Salary Transfer customer of MIB with more than 1 year of continuous salary transfer.

• Minimum Salary of MVR 10,000 per month

• Your monthly payments should not be more than 50% of your total income. This includes all monthly payments owed for all outstanding loans, and facilities to any financial institute.

• Salary deduction by employer. This option is available only for those who are employed with Partner Employers.

• Salary transfer to MIB account.

The tenure for this financing facility is 6 months to 5 years

• The vehicle should not have aged more than 2 years from the date of import to the Maldives.

If you would like to cancel a transaction, kindly please forward us a message from FaisaNet requesting to cancel the transaction with a screenshot of the transfer slip with the reason stated. 

Or  

Send a message with the following details 

• Transaction date 

• Amount 

• Reference Number 

• Reason to cancel the transaction 

You may take bank statements by logging in to FaisaNet.

Follow these steps below once logged in. 

• Accounts > Select account number > Choose the preferred date (From- To) 

To link kids account with your personal account, you are required to submit the account linking forms to the nearest branch or via ApplyNow portal.  You can download the relevant form from the link below

https://mib.solidtree.net/downloads/e-banking

If you would like to change your OTP method to Authenticator App, you may login to internet banking via browser and follow the below steps.  

• Personal profile > Select your preferred channel to receive OTP > Authenticator App. 

• Once you choose authenticator app, we will send you an email with activation details. 

• Afterwards, you may download an Authenticator app from the appropriate store and activate it using the given information. 

The login page on FaisaNet will allow you to reset your password on your own. If you have trouble resetting by yourself, please contact our agents who will assist you in resetting your password. 

Get in touch with us so we can help you retrieve your credentials. The easiest way is through chat or send a request through email and we will contact you.

You can fill the FaisaNet User application form and submit via our apply now portal or to any of our branch and distribution centre. 

You can add the profile to your FaisaNet account. Once the profile has been added, you can simply switch and operate the accounts as desired. 

You can add the profile of your children’s account to your FaisaNet account. Once the profile has been added, you can simply switch between profiles and operate the accounts as desired. 

You can enjoy up to MVR 200,000 as a transaction limit per day. If your transaction limit has been set lower than MVR 200,000 and wish to change, please submit a request via the messaging platform on FaisaNet. Our agents will assist you to change it based on your requirement. 

You can choose between SMS, and an Authenticator Application. We recommend choosing Microsoft authenticator application to ensure the highest level of security.

Yes, it does. You will need an OTP to perform transactions and login. 

Your account number, passphrase, email address and phone number. If you require any assistance in obtaining the information, please get in touch with one of our customer care agents.

You can apply from the ApplyNow portal or submit an application form at one of our branch and distribution centres. You can also self-register after downloading the FaisaMobile Application from the relevant store. 

If you would like to cancel a transaction, kindly please forward us a message from FaisaNet requesting to cancel the transaction with a screenshot of the transfer slip with the reason stated. 

Or  

Send a message with the following details 

• Transaction date 

• Amount 

• Reference Number 

• Reason to cancel the transaction 

To link kids account with your personal account, you are required to submit the account linking forms to the nearest branch or via ApplyNow portal.  You can download the relevant form from the link below

https://mib.solidtree.net/downloads/e-banking

If you would like to change your OTP method to Authenticator App, you may login to internet banking via browser and follow the below steps.  

• Personal profile > Select your preferred channel to receive OTP > Authenticator App. 

• Once you choose authenticator app, we will send you an email with activation details. 

• Afterwards, you may download an Authenticator app from the appropriate store and activate it using the given information. 

No charge is applicable. 

Yes, it is

Yes, it does. You will need an OTP to perform transactions. 

No, you will be asked to set a 4-digit PIN at the initial login. You can use the same PIN to access your application 

Your account number, passphrase, email address and phone number. If you require any assistance in obtaining the information, please get in touch with one of our customer care agents. 

FaisaMobile uses the same username and password required for FaisaNet. So, if you have already registered to FaisaNet, just download the application form and enter the same credentials. If you haven’t registered to FaisaNet, you may self-register in the mobile application. 

The login page on FaisaNet will allow you to reset your password on your own. If you have trouble resetting by yourself, please contact our agents who will assist you in resetting your password. 

Get in touch with us so we can help you retrieve your credentials. The easiest way is through chat or send a request through email and we will contact you.

You can enjoy up to MVR 200,000 as a transaction limit per day. If your transaction limit has been set lower than MVR 200,000 and wish to change, please submit a request via the messaging platform on FaisaNet. Our agents will assist you to change it based on your requirement. 

You can link any USD savings and current account to your card 

Platinum Card can be used globally at all POS, ATM and payment gateways where Visa is accepted. 

Yes. You can fill the designated section of the application form with the details of the third party that you authorize for collection or send the details from your internet banking. 

You can link any MVR savings and current account to your card

The card can be used on all Visa accepted local POS ATMs and e-commerce platforms. 

You can visit the nearest ATM and set your PIN to activate your card. You can set a PIN of your choice  

Send a request through internet banking. The bank will change the limit based on the customer request and information provided to the bank.

Platinum card will give access to over 1,000 lounges under the lounge key program all over the world. Customer has to show the card and will be provided access.

You can apply from the apply now portal or submit an application form at one of our branch and distribution centres  

As per the schedule of charges

List of Charges

Send a request through your internet banking to change the PIN of your card. Our agents will contact you and set your card to PIN activation status. You can then go to the ATM and set a PIN of your choice.  

You can apply from the ApplyNow portal or submit an application form at one of our branch and distribution centres

You can give supplementary cards to your spouse, parents, and children. You can give up to 3 Aailaa cards.  

It is a supplementary card that you can issue to your loved ones. The card will be linked to your account at the bank with controlled limits.  

Yes. You can fill the designated section of the application form with the details of the third party that you authorize for collection or send the details from your internet banking.  

For everyday cards you can link your MVR accounts and for Plat card you can link your USD accounts.

You can visit the nearest ATM and set your PIN to activate your card. You can set a PIN of your choice  

You can apply from the ApplyNow portal or submit an application form at one of our branch and distribution centres  

Your card is enabled to conduct contactless payments, power with VISA PayWave. You can pay up to USD150 through Plat Card and MVR 750 through everyday Card contactless payments.

We have placed high limits for usage of the Plat Cards. However if you feel that your limits are not suitable for you, you can send us a request through the internet banking or mobile banking platform and we can change the limits based on your needs. To check the default limits please check the product page. 

The bank has paid the subscription fee for the customer. Customer must pay for the services obtained at the lounge.

Download the Loungekey app. You will be able to register for free as the bank has already paid for the registration. To check the validity of the card and for security reasons Loungkey will charge USD 1 to your account and reverse it.

MIB cards are equipped with VISA 3D secure services, which ensure that transactions proceed with proper authentication of the cardholder. (eg. OTP)

You can use this card to do transaction via any POS, ATM or Online Payments globally where visa is accepted. For MVR transactions we recommend getting a VISA everyday card which is linked to your MVR account. 

The Plat card that is connected to your USD account can be used globally where VISA is accepted. For domestic usage we recommend getting an everyday Card that is connected to your MVR account. 

You can deposit up to MVR 200,000 or USD 12,000 daily to individual accounts using the cash deposit machines.

In general you should be able to withdraw up to MVR 25,000. However if you had given a lower limit during card creation you will be restricted to that limit. You can change your limit easily by sending a request through FaisaNet/FaisaMobile messaging.

Customers will only be able to use their VISA Platinum card to withdraw up to USD 1000 per day and USD 5000 per month using our Self Service Banking centre.

If your transaction did not go through or your money is not deposited/withdrawn as expected you will need to file a dispute, for us to quickly get it rectified. You can contact our CustomerCare Contact Center either from email customercare@mib.com.mv, send a message via FaisaNet or Call to 3325555 submit your request.

You can visit the nearest ATM and set your PIN to activate your card. You can set a PIN of your choice  

You can apply from the ApplyNow portal or submit an application form at one of our branch and distribution centres  

Please refer to the Bank's List of Charges available for download.

List of Charges

MIB Global Pay uses 'Verified by Visa' and 'MasterCard Secure Code' two-factor authentication protocols as an additional layer of security to ensure secured payments.

MIB Global Pay uses world class information security ensuring processed data that is stored and transmitted guarantees the confidentiality. Availability of tokenization allows merchant to conduct business without any major security compliance. MIB Global Pay uses 'Verified by Visa' and 'MasterCard Secure Code' two-factor authentication protocols as an additional layer of security to ensure secured payments.

MIB Global Pay is fully 'Payment Card Industry Data Security Standard (PCI DSS)' compliant.

All Visa and MasterCards will be accepted

Submit a fully filled application form and the BR as per the given format to any Branch and Distribution Centre of the bank.