Maldives Islamic Bank (MIB) digital banking review
Updated October 12, 2026 · VaultCue Editorial Team
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Our verdict
Maldives Islamic Bank is a full Islamic bank serving individuals and businesses in the Maldives' with deposit and financing products for everyday use. It suits people who want banking aligned with Islamic principles alongside digital account opening and transfers to overseas bank accounts and wallets.
Key facts
- Best for
- Islamic everyday banking for Maldives based individuals and businesses
- Currencies
- 2↗
- Transfer fee
- MVR 45 and INR 100 per transaction (Favara UPI transfer)↗
- Legal entity
- Maldives Islamic Bank PLC↗
- Headquarters
- Maldives↗
- Founded
- 2011↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Audience
- Expats
- Features
- Joint account
- Official website
- mib.com.mv
Savings
Money transfer
Facts checked September 26, 2026, 6 sources
Pros and cons
Pros
- Complete Islamic range covers deposits and financing for personal and business use
- Fully digital business account opening supports applications from anywhere at any time
- International transfers reach bank accounts and wallets across multiple overseas destinations
- Compact contactless payment tag attaches to a phone or wallet for quick payments
Cons
- Maldives centred service limits practical everyday use outside the home market
- Islamic only product structure gives no conventional banking option under the same roof
Who it suits
- People living in the Maldives' seeking Islamic everyday accounts
- Business owners wanting digital account opening from any location
- Senders supporting family through overseas account and wallet transfers
Who should look elsewhere
- People seeking conventional banking outside Islamic principles
How Maldives Islamic Bank (MIB) digital banking compares
Where Maldives Islamic Bank (MIB) digital banking is available
- Available
- Maldives
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What everyday products does Maldives Islamic Bank provide?+
Maldives Islamic Bank provides Islamic deposit and financing products for individuals and businesses in the Maldives'. The range covers everyday personal needs alongside business banking requirements. Customers can manage daily finances within an Islamic framework without using conventional banking products.
Where does Maldives Islamic Bank operate?+
Maldives Islamic Bank operates in the Maldives' and focuses on individuals and businesses based there. Everyday accounts, financing and transfer services reflect that home market focus. People based in other countries will find fewer practical options for daily local banking.
Who can open a business account with the bank?+
Business customers in the Maldives' can open business banking with Maldives Islamic Bank. Opening follows a fully digital process that allows applications from anywhere at any time. The service supports firms that want Islamic deposit and financing services for business activity.
How do international transfers work with the bank?+
Senders can move money to bank accounts and wallets across multiple international destinations using the bank transfer service. Many transfers arrive very quickly, often on the day they are sent. The bank also enables faster cross border payments through the India Maldives corridor with the Maldives' Monetary Authority.
Where is Maldives Islamic Bank (MIB) digital banking based?+
Maldives Islamic Bank (MIB) digital banking is based in Maldives. (Source, checked September 26, 2026)
When was Maldives Islamic Bank (MIB) digital banking founded?+
Maldives Islamic Bank (MIB) digital banking was founded in 2011. (Source, checked September 26, 2026)
How can I contact Maldives Islamic Bank (MIB) digital banking support?+
Maldives Islamic Bank (MIB) digital banking offers support through Email, Chat, Phone, Help-centre. (Source, checked September 26, 2026)
Sources
- mib.com.mv checked September 26, 2026
Backs: Headline rate, Headquarters, Legal entity
“General Investment Account (GIA) Profit Performance for August 2026: 2.03% 3 Month Individual, 2.43% 12 Month Individual”
- mib.com.mv/about-us checked September 26, 2026
Backs: Founded
“MIB opened its' doors on the 7th of March 2011 with the opening of the Main branch in Male'”
- mib.com.mv/e-banking/faisaatm checked September 26, 2026
Backs: Support channels
“You can contact our CustomerCare Contact Center either from email, send a message via FaisaNet or call to 3325555”
- mib.com.mv/e-banking/faisaremit checked September 26, 2026
Backs: Delivery time, Payout methods
“Most transfers that do not require additional review are expected to be credited near-instantly or within the same day. Depending on the destination, beneficiary bank or wallet and payout route, some...”
- mib.com.mv/frequently-asked-questions checked September 26, 2026
Backs: Transfer fee
“You will be charged a fee of MVR 45 and INR 100 to process the transaction.”
- mib.com.mv/personal-deposits/savings checked September 26, 2026
Backs: Access terms, Account kind, Audience, Currencies, Features, Minimum deposit, Rate type
“with convenient access to your funds at any time”
Compiled from 6 source pages, checked October 13, 2026. We did not open an account.
Not confirmed yet: Monthly fee, Licence type, Deposit protection, Currency conversion fee.
Maldives Islamic Bank (MIB) digital banking
Islamic everyday banking for Maldives based individuals and businesses