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BML Islamic Personal Financing

Shop for electronics, furniture or home appliances from any of the authorized dealers and pay in monthly installments with BML Islamic Personal Financing, our Shari’ah compliant financing product. BML Islamic Personal Financing is provided under 3 categories; BML Islamic Personal Financing, BML Islamic Personal Financing (micro) and BML Islamic Personal Financing (lifestyle).

Key Features

  • Financing amount:
    BML Islamic Personal Financing: MVR 20,000 to MVR 300,000
    BML Islamic Personal Financing (micro): up to MVR 25,000
    BML Islamic Personal Financing (lifestyle): MVR 25,000 – MVR 100,000
  • Financing Approval in just 1 day
  • Repayment period up to 5 years
  • Can finance quotations from multiple Authorized Dealers
  • Security not required
  • No guarantee required


  • Maldivians aged above 18 years, and below 60 years at maturity
  • Performance of existing facilities should be satisfactory during the past 12 months.
  • Salary or income must be routed through a locally operated bank and the last month’s salary must be routed via a BML account.
  • Customers who have an existing Lui Express, Lui Professional, Lui loan will not be eligible for BML Islamic Personal Financing. However they are eligible to apply for BML Islamic Personal Financing-Lifestyle and BML Islamic Personal Financing-Micro

BML Islamic Personal Financing (MVR 20,000 to MVR 300,000)
  • For salaried Individuals employed for the past 12 months (must be employed for at least 6 months in the current job).
  • Financing rate: 18% p.a

    BML Islamic Personal Financing-Micro (up to MVR 25,000):

  • For non-salaried individuals, who do not earn a fixed salary, however earns income from other sources such as freelancing, food processing, tailoring or any other entrepreneurial works.
  • If salary/income is not routed through BML account, a guarantor must be added
  • If the goods financed by the bank are to be used by the customer for a business purpose, the business must be registered at Ministry of Economic Development.
  • Financing rate: 13% p.a

    BML Islamic Personal Financing-Lifestyle (MVR 25,000 to MVR 100,000):
  • For property owners receiving a rental income from their property.
  • Rental income must be routed to BML account for past 12 month
  • Financing rate: 18% p.a

How to Apply

Please submit a BML Islamic Personal Financing Form with all supporting documents as stated on the form, to BML Islamic Male’ Branch or to any other Branches located outside Male’.

After assessing the application, we will be in contact with you for the next steps. Processing time for BML Islamic Personal Financing facilities may vary based on individual applications and we will keep you updated throughout the process.

Applicable Fees

There are no application fees or processing fees.

Other fees and charges will be levied as per BML Islamic Schedule of Charges