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BML Islamic Savings Account

Our savings account is based on Wakala bil Isthismar (investment agency) where you appoint us as your agent to invest funds in a Shari’ah-compliant investments or instruments.


Key features

  • Available for personal banking customers
  • Available in a choice of MVR or USD Accounts
  • Deposit or withdraw your money whenever you want
  • Manage your account and make payments anywhere, anytime with Internet Banking and Mobile Banking App
  • Cheque book facility available
  • Link your savings account to BML Islamic Visa Debit Card
  • Account statements are available for free via Internet Banking



MVR AccountsUSD Accounts
Minimum balance
20050
Minimum balance
to earn profit
5,0001,000
Expected Profit
per annum
1.5%1.0%
Cheque Book Issuance Fee
per leaf
30.20

*Please refer to BML Islamic Schedule of Charges and Fees for full details on profit calculation



How can I open an account?

If you are a new customer, you can make an appointment to open new accounts by calling the BML Contact Center at 3330200, and arrange for a convenient time to visit the branch.

Submit the completed Application Form along with required documents to BML Islamic Male’ Branch or any other Branch located outside Male’.

Review the Account Opening Checklist and make sure to submit all the required documents.

If you are an existing customer of the bank, you can now apply online.



Important information

Account will be activated in 5 days and cheque books can be picked up at the branch.

If you require statements for your account, send a mail through Internet Banking or submit a Statement Request Form to any of our branches.

You can apply for additional services such as BML Islamic Visa Debit Card or Internet Banking with the Account Opening Form. Once these services are ready, you will receive a notification via SMS.

FAQ