Ujaalaa Dhiriulhun

Our new and improved Ujaalaa Dhiriulhun is the most in-demand consumer good in the market. Designed to assist individuals in purchasing a variety of lifestyle consumer goods including phones, electrical goods, furniture, kitchenware, construction materials, and much more! This facility is based on the Islamic Financing concept of Murabaha.

Partner Employers Dealer Network

Ujaalaa Dhiriulhun

Partner Employers Dealer Network

Finance More

Extend your reach with higher financing limits

Exclusive Rates

Special financing rates for salary and rent transfer customers

Special "Hakathari" Rates

Get special rates when you purchase "Hakathari" rated products

Maximum Financing Limit of MVR 400,000
Exclusive rates for salary transfer and rental income transfer to MIB
Flexible payment periods ranging from 18 to 48 months

Applicant must be a Maldivian with a valid identification card
Applicant must be at least 18 years of age
Applicant must be living and working in the Maldives
Must have been employed for the past 6 months and have been in employment with the current employer accepted by the bank for the last 3 consecutive months
An individual earning rental income from own property would also be eligible for the facility if the rental income record for the past 12 consecutive months in his or her MIB account is verifiable
An individual who has been maintaining his/her salary account with MIB and has the record of salary income for the last 12 consecutive months would also be eligible for the facility

The applicant must provide a guarantor, preferably a relative who is working for a minimum of six months.

The guarantor for this facility must be:

A Maldivian with a valid identification card
Age must be at least 18 years old
Living and working in the Maldives
Be in employment for the last 6 consecutive months
Preferably related to the applicant, either by blood or marriage

For salary transfer and salary deduction applications, applicants must earn a minimum confirmed income of MVR 4,000 per month (their total average gross salary for the past 6 months should be a minimum of MVR 4,000 per month)
For rental income earners, applicants must earn a minimum confirmed income of MVR 10,000 per month (their total average gross monthly income for the past 6 months should be a minimum of MVR 10,000)

Financing Limit is calculated based on the requested tenure, earnings (salary / rent) of the customer and monthly obligations of the customer which includes payments to other Banks/ Financial institutions

For an example

Monthly payment should be not more than 40% of the monthly salary for those earning up to MVR 10,000
Monthly payment should be not more than 45% of the monthly salary for those earning between 10,001 to 20,000
Monthly payment should be not more than 50% of the monthly salary for those earning between 20,001 to 50,000
Monthly payment should be not more than 55% of the monthly salary for those earning between 50,001 to 100,000
Monthly payment should be not more than 60% of the monthly salary for those earning above 100,001

Your total monthly payments includes all monthly payments that you are required to pay to any other Bank or financial institute.

Duly filled and signed Application Form

Documents required from the applicant

Copy of National Identity Card
Employment letter stating the type of employment (permanent or contractual), start date, and salary details including basic salary, fixed allowances, variable allowances, and deductions
Bank statement for last 6 months
Salary slips of last 6 months

Documents required from the guarantor

Copy of National Identity Card
Employment letter stating the type of employment (permanent or contractual), start date, and salary details including basic salary, fixed allowances, variable allowances, and deductions
If not employed by an accepted employer – 03 month bank statement

If guarantor receives rental income then please submit the following:-

Rental Agreements
Bank Statement (06 months)
Copy of title/utility bill

Additional Requirements

To process under salary transfer or rent transfer, the customer should submit a letter from the employer or tenant(s) confirming the customer's salary or rent will be regularly deposited into the customer's MIB account for the full financing period. (Sample letters are available for download)

Each applicant is required to provide a guarantor together with their application.

The guarantor for this facility must be:

A Maldivian with a valid identification card
Age must be at least 18 years old
Living and working in the Maldives
Be in employment for the last 6 consecutive months with an employer accepted by the bank
Preferably related to the applicant, either by blood or marriage

The ‘Hakathari Program’ is initiated by Ministry of Environment, Climate Change and Technology (MECCT) and the Bank, to promote the use of energy efficient appliances and equipment, whereby, the appliances labelled with the energy efficiency of 3 star and above based on a 5-star rating system would be financed under the program. The program covers 3 appliances – air conditioners, refrigerators and washing machines. Any sale conducted under this program would be proceeded with a profit rate of 10% p.a

Financing Rate

Normal: 15%
Salary Transfer Customer: 13%
Rent Transfer Customer: 13%
Hakathari (3 Star and above): 10%

Tenure

Minimum: 18 months
Maximum: 48 months

Financing Amount

Minimum: MVR 25,000
Maximum: MVR 400,000

Processing Fees

Charged as per the published rate on the List of Bank Charges

Apply Online

ApplyNow

Related Downloads

Ujaalaa Dhiriulhun Ujaalaa Dhiriulhun Application Form v2

Ujaalaa Dhiriulhun Ujaalaa Templates

Ujaalaa Dhiriulhun Ujaalaa Dhiriulhun Brochure V2

Ujaalaa Dhiriulhun Sample Letter - Tenant’s

Ujaalaa Dhiriulhun Sample Employment Letter (Salary Transfer)

Ujaalaa Dhiriulhun Requisition Form

Ujaalaa Dhiriulhun Sample Employment Letter (Normal)

Ujaalaa Dhiriulhun Template: Tenant Letter

Ujaalaa Dhiriulhun Template: Employment Letter

Ujaalaa Dhiriulhun Template: Employment Letter with Salary Transfer

All Downloads

Frequently Asked Questions

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

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

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.

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.

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:-

Mobile Phone and Electronics
Computers and Laptops
Outboard Engines
Motorbikes
Jet Ski
Construction Material
Household items
Household electrical items
Rashu Pickup
Furniture

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.

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

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.

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

No.

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.

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

Eligibility

Maldivian 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 4000 per month or rental income of minimum MVR 10,000 month

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