Green Financing

Key features

• Personal Banking Customers: Financing is available from MVR 50,000 up to MVR 500,000 without any additional security at a rate of 12% p.a.
• Personal & Business Customers: Financing is available from MVR 50,000 up to MVR 20 Million with additional security at a rate 10% p.a.
• No deposit or processing fee required.
• 15% equity required for facilities with additional security
• For financing below MVR 500,000, financing period is up to 5 years
• For financing above MVR 500,000, financing period is up to 20 years

What can be funded under BML Islamic Green Financing?

• The project should be an environment-friendly project focused on renewable energy sources
• Products such as renewable energy production or expansion.
• Retailers looking to finance their projects to grow their business in renewable energy or in a similar market.

Am I eligible?

For Green Financing (Unsecured)

• Income must be routed to BML account for past 12 months
• Repayment of all existing credit facilities should be satisfactory for the past 12 months.
• Income from all sources such as salary, business income, rental income and Retirement Pension Benefits due to early retirement from Government will be considered.

For Green Financing (Secured)

• Income must be routed to any bank account for past 6 months and most recent month’s income must be routed to your BML account
• You should be able to raise your own contribution of 15% of the financing amount
• The value of the property offered as security must be at least 150% of the financing amount

How do I apply?

Submit BML Islamic Green Financing (Unsecured) application via registered email to [email protected]. When emailing please ensure documents are color copies of the original in PDF format.

For Green Financing (Secured)

If you are in Male', you can make an appointment through our Appointment Portal and arrange a time to visit our BML Islamic Financing Centre located in Male.

Once an appointment is successfully made, you will receive an SMS with your appointment time to visit the Bank. Appointment slots are available for next 10 working days. If the appointments are full, please try again for the next working day.

If you are in the below listed area, take a token through QueueBee to visit the relevant branch to submit BML Islamic Education Financing application form along with required documents.

Hulhumale’ - Visit Hulhumale’ Branch

Hithadhoo - Visit Hithadhoo Branch

Gan - Visit Gan Branch

Mahibadhoo - Visit Mahibadhoo Branch

Kulhudhuffushi - Visit Kulhudhuffushi Branch

Eydhafushi - Visit Eydhafushi Branch

If you are residing in any other island, visit the nearest branch and submit BML Islamic Education Financing application form along with required documents.

Our BML Islamic Financing Centre and branches outside Male’ are open from 8:30am to 2:00pm, Sundays to Thursdays (except public holidays).