Maldives Islamic Bank (MIB) has opened the opportunity for fishermen to apply for its Ujaalaa Dhiriulhun facility.
Speaking at the ceremony to inaugurate the service, Chief Operating Officer (CEO) Ahmed Riza said MIB has always worked closely with fishermen by providing finances needed for their vessels. As such, he said the bank has provided finances for over 100 fishing vessels in the country. He added the Ujaalaa facility is now open for fishermen that are already under agreement with the bank but that it will be further expanded across the country.
Ujaalaa Dhiriulhun is a consumer goods financing facility designed to assist individuals to purchase lifestyle consumer goods, including phones, electrical goods, furniture, kitchenware, and construction materials. Under the facility, fishermen will be able to purchase goods worth USD6,500.