Bank of Maldives (BML) has signed an MoU with the Ministry of Islamic Affairs, under which the bank will facilitate the development of Waqf buildings. 

Also agreed is for the bank to assist in promoting Islamic finance literacy. 

As per the agreement, BML will support the construction of two Waqf buildings in Male' and contribute towards the Islamic Waqf Fund. 

“We are proud to partner with the Ministry of Islamic Affairs to support the development of Islamic finance and Waqf. As the largest Islamic banking services provider in the country, we continue to develop and advance Islamic Banking and Islamic Social Finance initiatives across the country," said BML CEO and Managing Director Mohamed Shareef. 

BML has previously fully financed the construction of the Sanabil Building at the Islamic University of Maldives through the full purchase of the project sukuk.