BML Islamic

Retailers’ Financing

An exclusive financing solution granted to existing Small and Medium Enterprises (SMEs) using BML Point of Sale (POS) terminals. This financing is specifically designed and tailored to finance the working capital of businesses, restocking of goods for sale, acquiring asset, finance imports and for the growth of the business.

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 through our Booking Portal and arrange a time to visit our BML Islamic Male Branch located in Male. If you are in the below listed area, take a token through QueueBee to visit the relevant branch to submit BML Islamic Retailers’ Financing application form along with the 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

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

Appointments can be made from 8am on the day before each working day.

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

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

Useful downloads

BML Islamic Retailers' Financing Application Form	Dhivehi
FAQ - Retailers’ Financing	Dhivehi