Maldives Islamic Bank (MIB) has expanded its services to Fuvahmulah city.
The new opening will offer a complete range of banking products and services compliant with the Islamic Sharia which include deposit and investment accounts, consumer and business financing facilities, trade finance, remittance, electronic banking and other ancillary services, according to MIB.
MIB stated that opening of the new branch is in line with the strategic plan to expand its network to the islands of Maldives. MIB added that it will support Maldives Monetary Authority's call for financial inclusion to tap the growing needs of the population, and at the same time to contribute to the social-economic development of the local community.
MIB currently operates branches in Male' city, Hulhumale', Addu city, Thinadhoo Island and Kulhudhuffushi Island. MIB said it has further plans of expansion of its services and branches to be executed in 2018.