State Electric Company Limited (STELCO) has stated that customers can use the Maldives Islamic Bank (MIB) Ujaalaa Dhiriulhun facility to make purchases at the sales centre. STELCO stated that the MIB financing facility can be used to purchase electrical wiring materials and various electronics.
Ujaalaa Dhiriulhun is a Shariah-compliant consumer goods financing facility designed to assist individuals to purchase lifestyle consumer goods including phones, electronics, furniture, kitchenware, and construction materials. Under the facility, customers will be able to purchase goods worth USD26,000 with a flexible payment period of 18-48 months.
MIB stated that customers can apply for the Ujaalaa Dhiriulhun facility if they are employed with an employer accepted by the bank, or if they are rental income earners. Payments can be made via salary deduction directly in partnership with the employer.