The first phase of this initiative, launched in October 2025, prioritised customers facing challenges in repaying previously obtained loans.
SME Digital
As part of its strategic goal to transition into an Islamic financial institution, SME Digital has opened the opportunity for all customers to convert their existing conventional loans into Islamic financing facilities. This significant milestone reflects the institution’s continued commitment to providing ethical, flexible, and customer-focused financial solutions.
The first phase of this initiative, launched in October 2025, prioritised customers facing challenges in repaying previously obtained loans. Through this effort, a substantial number of facilities were successfully converted into Shari’ah-compliant arrangements in accordance with Islamic financing principles.
SME Digital is now extending the refinancing opportunity to all remaining customers. This initiative offers several benefits, including reduced monthly instalments and extended financing tenures. Customers with overdue facilities will also have the opportunity to regularise their accounts through Islamic financing structures.
Refinancing offers are currently being issued through the SME Portal to customers who were not covered during the first phase. The conversion process will proceed once customers review and accept their offers via the SME Portal. SME Digital will subsequently contact customers to provide further details regarding the updated facility arrangements.
We launched the first phase of this initiative in October last year and have successfully converted a significant number of facilities. Our objective is to transition all existing loans into Islamic financing contracts as we move toward becoming an Islamic financial institution. Through this transition, we also aim to provide customers with more convenient and flexible financing solutions that better support their financial needs.
Customers can review their refinancing offers and proceed with acceptance through the SME Portal available on the SME Digital website at www.smedigital.mv.
