SME Digital has introduced a Shariah-compliant Working Capital Financing scheme in Kulhudhuffushi City, aimed at supporting small and medium enterprises (SMEs) with their day-to-day financial needs.
The organisation said the financing product is designed to ease cash flow management, facilitate the purchase of goods and support operational expenses for businesses. Under the scheme, enterprises can access up to MVR 2 million in financing, with up to MVR 1 million available without collateral. Repayment is structured over a five-year period, with a six-month grace period.
Speaking at the launch ceremony, SME Digital Chief Executive Officer Badhurudheen Hassan said businesses often require short-term financial support in addition to long-term investment financing.
“Many businesses approach SME Digital to overcome short-term cash flow challenges. This product is designed to provide quick solutions to everyday financial difficulties and ensure continuity for entrepreneurs,” he said.
The scheme was launched during SME Digital’s visit to Kulhudhuffushi from 27 to 29 March, where the team engaged with local businesses and strengthened ties with the community.
As part of the visit, several outreach activities were conducted to promote financial support opportunities for SMEs. A “Sales Engagement” event was held on 27 March to provide information and assist with applications for SME Digital schemes.
The following day, the team visited the Saturday market, where they shared details on available financial services and opportunities to support business growth.
Applications for the Working Capital Financing scheme are available through SME Digital’s online portal at www.smedigital.mv
.