Under this strategic partnership, the Bank will support the construction of two Waqf complexes in Malé and contribute to the expansion of the Islamic Waqf Fund.
BML
The Bank of Maldives (BML) has signed a Memorandum of Understanding (MoU) with the Ministry of Islamic Affairs to facilitate the development of Waqf buildings and promote Islamic finance literacy in the country.
Under this strategic partnership, the Bank will support the construction of two Waqf complexes in Malé and contribute to the expansion of the Islamic Waqf Fund. The collaboration will also strengthen BML’s ongoing efforts to enhance public awareness and advance the Islamic finance sector in the Maldives.
We are proud to partner with the Ministry of Islamic Affairs to support the development of Islamic finance and Waqf. As the largest Islamic banking services provider in the country, we continue to develop and advance Islamic Banking and Islamic Social Finance initiatives across the country.
BML has undertaken several similar initiatives to advance Islamic finance and social development. The Bank has previously fully financed the construction of the Sanabil Building at the Islamic University of Maldives through the full purchase of the Sukuk issued for the project.
