Maldives Islamic Bank (MIB) has launched a new digital international remittance service, FaisaRemit, allowing customers to send money abroad quickly without visiting a bank branch.

The service enables customers to send money directly to bank accounts and electronic wallets in 15 countries through MIB's FaisaNet digital banking platform.

Customers can send between USD 50 and USD 5,000 per transaction for authorized purposes.

MIB said most transactions will be received immediately or within one day, although some transfers may take up to two days depending on the destination country and the receiving bank.

FaisaRemit also allows customers to review key transaction details before confirming a transfer. These include the amount the recipient will receive, the USD amount, applicable charges and exchange fees, as well as the total amount to be deducted from the customer's account.

The service is currently available for transfers to:

MIB said the countries, currencies and payment methods available through FaisaRemit may change depending on the options available at the time of the transfer.

The bank said it will continue to promote digital banking innovations that provide greater convenience to customers.