Retailers’ Financing

Key features

• Fully Shariah compliant
• Financing is available as either a Term financing facility or Wakalah based Overdraft financing facility
• Financing value is up to 3 times of the monthly average POS sales
• Processed within 10 working days
• No security or deposits required

Payment period

• For Term financing facility: 48 months 
• For Wakalah based Overdraft financing: 12 months
• Customers can use the funds to pay for imports via BML’s Swift Transfer or Letter of Credit without having to provide USD for the transaction, subject to availability

For financing amounts below MVR 500,000

• No security

• Financing Rate: 13 % p.a.

For financing amounts above MVR 500,000

• Additional security is required in addition to the stock

• Financing Rate: 12 % p.a.

Applicable Fees

• Application Fee: MVR 1,500 (Non-refundable)
• Processing Fee: 1.5% of the financing amount

Am I eligible?

• Be a business registered in Maldives
• Be a BML Customer with at least 12 months account operation
• Minimum monthly average POS sales of MVR 30,000
• Minimum 12 months POS sales
• Satisfactory financial position
• Earn sufficient income to cover the facility monthly repayment

How do I apply?

• If you are in Male', you can make an appointment to apply for Retailers’ Financing through our  Booking Portal and our staff will contact you to arrange a date and time. If the appointment slots for the day are full, please try again for the next working day. Appointments can be made from 12am on the day before each working day.
• If you are outside of Male’ please submit the Application Form along with required documents to the nearest Branch.
• Our BML Islamic Male’ Branch and Branches outside Male’ are open from 8:30am to 2:00pm, Sundays to Thursdays (except public holidays).