People pictured at the counters of a BML Branch in the capital Male. MIHAARU PHOTO/NISHAN ALI
Maldives’ main bank is to open its first Islamic Banking branch this Thursday.
An official of Bank of Maldives Ltd (BML) announced that the bank’s Islamic Banking branch will commence services next Sunday. Details of the services available at the new branch will be revealed in time, the official added.
Under BML’s Islamic banking policy, all the branches of the bank already offers special Islamic personal and business accounts named “Wadi’ah” to its customers, along with “BML Islamic Visa Debit” cash cards.
BML had also put together a Shariah advisory committee of local and international Islamic scholars to provide counselling on banking procedures that comply with Islamic law.