Under its “Islamic Finance First” policy, Bank of Maldives (BML) has transitioned all new personal accounts and loans to Islamic banking principles. Additionally, the bank has established mechanisms to facilitate the seamless conversion of existing conventional accounts and loans to Shari’ah-compliant structures. Following the conversion of all regional branches to Islamic banking service centers last year, the bank continues to offer conventional services upon specific customer request. BML introduced this strategic shift in response to the significant growth and demand for Islamic banking over the past decade, aiming to provide comprehensive financial solutions that strictly adhere to Shari’ah principles.
