MIB Honored with MMA’s Inaugural "Excellence in Financial Inclusion" Award

Maldives Islamic Bank (MIB) has been awarded the prestigious "Excellence in Financial Inclusion" accolade at the newly introduced Maldives Financial Sector Awards, presented by the Maldives Monetary Authority (MMA) during its 45th anniversary ceremony at Barceló Nasandhura.

This inaugural award recognizes MIB's exemplary contributions to modernizing the nation's financial sector and eliminating barriers to banking for underserved communities across the archipelago.

The MMA highlighted MIB’s pioneering "ApplyNow" digital platform as the primary driver for the award. This innovative service enables individuals and businesses anywhere in the world to open Shariáh -compliant accounts entirely online without visiting a physical branch.

The platform has significantly boosted financial inclusion, attracting over 88,000 customers to date. Notably, 55 percent of these users reside on islands without an MIB branch, and the platform has facilitated an impressive MVR 73.6 billion in transactions, reinforcing MIB’s commitment to accessible banking throughout the Maldives.