Maldives Islamic Bank (MIB), which provides many services online, has now introduced the service of opening business accounts online.
Maldives Islamic Bank (MIB), which provides many services online, has now introduced the service of opening business accounts online.
This service was launched at the 'Breaking Barriers in Business Banking' event held at Meerumaa Hall.
In addition to offering online business account opening, the bank also introduced overdraft facility services. This facility was arranged under Shariah compliant structures.
These services were introduced by Minister of Economic Development and Trade Mohamed Saeed at this event which saw participation from many businesses in Maldives.
MIB introduced many other services as well, which will provide further convenience to businesses.This includes:
- Business Expense Card, introduced for businesses to manage their petty cash, transactions to be available via Favara
- Bulk transfers for businesses via Favara
- Service to deposit salaries at any bank using the salary code
- Scheduling of transactions
MIB has made business banking entirely digital, and assures security in these services as in other services offered by the bank.
MIB said that their aim is to find banking solutions for businesses located across the Maldives, and to provide accessible services to all via online banking.
The bank also held an open day for businesses this week, with over 300 participants.
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