Maldives Islamic Bank (MIB) has last night unveiled a variety of new services in a special ceremony held at Central Park in Hulhumale'.
Maldives Islamic Bank (MIB) has last night unveiled a variety of new services in a special ceremony held at Central Park in Hulhumale'.
Faisa Mobile X is an upgraded version of the current mobile application used by the bank. This app has all the features of FaisaNet via which their online banking services are provided. This includes corporate accounts of private businesses and accounts made for children.
Users can register on the app via eFaas or FaisaNet ID. It can then be accessed via biometric credentials such as face ID instead of a password.
Customers' selected action can be added to 'quick action' on the apps home screen. The 'quick transfer' feature in the appl allows for instant money transfers to accounts of any banks that are saved on the app.
The app also contains all the corporate features available in FaisaNet.
MIB assures the safety and security of the app, which will provide convenience to users. The app will continue to be upgraded, and will evolve with new features to further assist customers.
This app is a 100 percent Maldivian production, the bank said.
This is designed for children with the aim of teaching them financial responsibility and management of funds. Three options are available under 'Bingaa'. These are:
- Bingaa TRX: These accounts can be opened by parents for any child over the age of seven. This comes with online banking services as well. This is designed to give pocket money to children for their day to day use.
- Bingaa Savings: This is a savings account for short term targets. For example, it can be used by a child to save up for an upcoming birthday of a family member, or to save up to buy a special treat, or such instances. This account was introduced to instill the values of saving up for achieving own targets.
- Bingaa Invest: This account is for long-term savings. The aim is to save up for the children's future, with targets such as funding further studies or purchase of an apartment, or such targets. Children will be granted access to these accounts once they become 18 years of age.
MIB states that Bingaa accounts will receive a good profit, and rewards and vouchers will also be given to encourage saving.
The account numbers received through opening Bingaa Accounts can be used by the children after they reach the age of eighteen as well.
Under Bingaa, children will be issued debit cards and given access to online banking services.
The Faisa Wear rings are specialized rings that you can use to tap to pay at any VISA accepted POS systems instead of having to use your cards. This is the first time that such an innovative medium has been introduced in the Maldives.
These rings are built to be water and sweat proof and is suited for all weather use.
This is a technology currently used in many developed countries.
MIB has introduced these rings in a variety of designs so that customers can choose which appeals to them.
All MIB customers can use the rings.
Last night's ceremony ended with a light show and a colourful display of fireworks.
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