MISFI brings together the Maldivian Islamic financial sector and partners to mobilise Islamic social finance instruments, promote financial inclusion, and support sustainable livelihoods across the Maldives through practical, impact-driven financing solutions.
The President's Office
On 15 January 2026, the Maldives Monetary Authority (MMA) announced that the authority has reached a key milestone in operationalizing Maldives Islamic Social Finance Initiative (MISFI).
The initiative was officially launched by MMA on 07 May 2025. With this milestone, MMA noted that SME Digital has now opened up applications for a micro-financing product introduced by the Bank of Maldives (BML) under MISFI.
BML, as a partner in MISFI, plays a key role in advancing the initiative’s objectives by supporting the development and delivery of Islamic social finance solutions, helping to expand access to ethical and inclusive financing for underserved segments of the economy. MISFI brings together the Maldivian Islamic financial sector and partners to mobilise Islamic social finance instruments, promote financial inclusion, and support sustainable livelihoods across the Maldives through practical, impact-driven financing solutions.
Our objective with Islamic Social Financing is to provide financing opportunities for individuals and businesses who are not eligible for financing through traditional banking system, and to build a more accessible financial system. By expanding access, we aim to create pathways for individuals to demonstrate their potential and pursue new growth. The initiative will support the development of startups and help informal and home-based micro business formalize, strengthen operations, and progress sustainably.
In their announcement stating that applications are now open for the first Shariah-compliant financing facility introduced by the Bank of Maldives under the Maldives Islamic Social Finance Initiative (MISFI), SME Digital noted all the benefits of this financing facility, including:
What can Islamic Micro Financing be used for?
