President Dr Muizzu Inaugurates Maldives Islamic Bank’s New 24-Hour Service Centre in Fonadhoo

Business

Maldives Islamic Bank (MIB) has expanded its regional presence with the opening of a new 24-hour service centre in Fonadhoo, Laamu Atoll, marking its third location in the region.

The centre, located at the Fonadhoo ferry terminal, was officially inaugurated on Tuesday by President Dr Mohamed Muizzu during his ongoing visit to the island.

The new facility offers a range of essential banking services, including ATM access, digital banking support, and customer assistance, providing residents and businesses with around-the-clock financial convenience.

With the launch, MIB now operates service centres in Fonadhoo, Gan, and Kahdhoo—the latter two established in July 2024 as part of the bank’s ongoing regional expansion strategy.

MIB highlighted that nearly all of its services are now available online, allowing customers to:

1. Open accounts remotely
2. Register for internet banking
3. Apply for Ujala Dhiriulhun financing without visiting a branch

As part of its infrastructure development plan, MIB will install 23 new ATMs across 19 inhabited islands next year, following a Memorandum of Understanding (MoU) signed with the Ministry of Economic Development and Trade in November 2024.

At present, MIB operates 39 ATMs across 18 islands, and the upcoming expansion will raise the total to 62 ATMs in 37 islands, including six USD-enabled machines.

MIB stated that the Fonadhoo service centre underscores the bank’s commitment to improving financial accessibility and delivering modern, customer-focused services to communities across the Maldives.