With our Working Capital Financing you can finance up to 20% of your 3 year average annual sale through a Shariah compliant facility and without any additional collateral.
Key features
Financing is available as a Term financing facility, Wakalah based Overdraft, Bank Guarantee, or Trade Murabahah Financing without any additional collateral
Finance up to 20% of the past 3 years’ average annual sales, up to a maximum amount of MVR 3 million
Financing rate: 12 % p.a.
Application Fee:MVR 1,500 (Non-refundable)
Own contribution
No contribution required for Term facility, Bank Guarantee or Wakalah based Overdraft facility
A minimum of 15% cash margin should be invested as own contribution for Trade Murabahah Financing
Payment period
Term Financing: 36 months (3 years)
Wakalah based Overdraft, Bank Guarantee, Trade Murabahah Financing: 12 months (1 year)
Security requirement
Stock and receivables of the business
Personal Guarantee of all Shareholders/Directors
Am I eligible?
Must be a registered business in Maldives
.
Business should be profitable for the past 2 years and active for past three years
Good credit history
How do I apply?
If you are in Male', you can make an appointment to apply for Working Capital Finance 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).
Useful downloads
BML Islamic Working Capital Finance Application Form
Internet Banking
BML Rewards
Kindly by BML
USD Booking
Merchant Portal