Working Capital Finance

Key Features

• Finance up to 2.5 times of monthly average of 2 years’ annual sales
• Financing is available as a Term financing facility, Wakalah based Overdraft, Bank Guarantee, or Trade Murabahah Financing

Security Requirement

• Stock and receivables of the business
• Personal Guarantee of all Shareholders/Directors

For financing up to MVR 3 million:

Financing Rate: 13% p.a.

Security:

• Stock and receivables
• Personal Guarantee of all Shareholders/Directors
• 15% cash Margin letter of credit

For financing above MVR 3 million:

Financing Rate: 12% p.a.

Security:

• Immovable property
• Stock and receivables
• Personal Guarantee of all Shareholders/Directors
• 15% cash margin letter of credit

Am I eligible?

• Must be a registered business in the Maldives
• Minimum 2 years in business
• Business should be profitable based on the latest audited financials
• Satisfactory credit history

Applicable Fees

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

How do I apply?

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 Working Capital Finance 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 Working Capital Finance 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).