MIB launches Ujaalaa Dhiriulhun Facility for fishermen

Maldives Islamic Bank (MIB) launches Ujaalaa Dhiriulhun Facility for fishermen. (Photo/MIB)

Fishermen have been made eligible applicants to Maldives Islamic Bank’s (MIB) Ujaalaa Dhiriulhun Facility.

A special ceremony was held at GDh. Faresmaathoda last night, marking the commencement of the provision of service to fishermen under the Ujaalaa Dhiriulhun Facility.

Speaking at the ceremony, the MIB’s acting CEO Ahmed Riza said that the bank has always been a diligent supporter of the fisheries sector. On this note, he underscored that the bank has financed almost 100 fishing vessels across the nation at present.

He also stressed that it is the first time in the Maldives a local bank is introducing a financing facility especially for fishermen.  

Ujaalaa Dhiriulhun Facility is a Sharia-compliant financing facility designed to assist individuals to purchase lifestyle consumer goods – which can be paid back in monthly payments.

A wide range of lifestyle consumer goods can be acquired through the facility such as furniture, kitchenware, electrical goods, and mobile phones.

Under the scheme allotted for fishermen under the facility, they will be able to purchase goods worth up to MVR 100,000.