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Construction Materials Financing

Need to renovate your home but do not have enough funds to buy construction materials?

MIB has the solution for you through our innovative and flexible "Construction Materials Financing Facility".  With this facility, you can buy and acquire variety of construction materials to refurbish your dream kitchen, bathroom, bedroom, etc.  Based on the Islamic finance concept of Murabaha, we will purchase the desired items from the authorised suppliers and re-sell the items to you at a predetermined and competitive price which includes the bank's profit. In return, you pay the total amount over an agreed period of time on monthly installments.


Features & Benefits

  • 100% Shari'ah compliant financing
  • Repayment period from 6 to 18 months
  • A fully transparent transaction with No processing fees, additional charges or hidden costs.



  • Maldivians with a valid resident identification card;
  • Aged between 21 to 60 years;
  • Living and working in Maldives (Government employees working in the islands could be evaluated on case to case basis);
  • Has been in employment for the last consecutive12 months with MIB accepted employers;
  • Should have a guarantor undertaking an employment for a minimum period of 12 months with MIB acceptable employer;
  • Earning a minimum salary of MVR4,000.00 and total average confirmed income for the past six months should be a minimum of MVR7,000.00;
  • Monthly payment should not exceed 34% of Customer's verified income);
  • Net income after total deductions should not be less than MVR7,000.00.


 Guarantor's Requirement

The Guarantor for this facility must be;

  • Maldivians with valid resident identification card
  • Aged between 21 to 60 years
  • Living and working in Maldives
  • Has been in employment for the last consecutive 12 months with MIB accepted employers
  • Guarantor preferably is related to Customer either by blood or marriage

And should provide the following documents

  • Employer letter.
  • Copy of national identity card


  • Completely Filled Application Form
  • Copy of National Identity Card
  • Employer Letter stating the type of employment (Permanent/Contractual), date of commencement, length of service, details of salary including basic salary, fixed allowances, variable allowances and deductions
  • Last 06 month's Bank Statement
  • Last 06 month's Salary Slip
  • Quotation from MIB authorized Dealers
  • Customer Payment Options


Customer payment options

  • Salary deduction by Employer


Accepted Product Categories:

(this list may change from time to time) 

  • Construction materials approved by MIB 

Accepted Suppliers 

(this list may change from time to time) 

  • Damas Home ware
  • Rainbow
  • STO
  • Nalahiya Trading Pvt. Ltd
  • Jausa Ceramic City
  • A H Brothers Pvt Ltd
  • Sonee Hardware

Construction materials approved by MIB

1Roofing Sheet & Accessories
2Timber and Plywood
3Door and Window
4Door and Window Frame
5Power tools
6Electrical cables and fittings
10Gypsum board and Ceiling System
11Sanitary ware and fittings
15Iron rod
17PVC Pipe & Fittings