Thursday 20th Jun 2024
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Bank of Maldives

BML Islamic Launches Maldives' First Shari'ah Compliant Credit Card

In a significant move towards financial inclusivity and innovation, BML Islamic has unveiled the Maldives' maiden Shari'ah-compliant Credit Card. This groundbreaking initiative marks a milestone in the nation's banking sector, catering to the growing demand for Islamic finance solutions.
The newly introduced BML Islamic Credit Card, powered by the American Express network, promises a plethora of benefits for cardholders, both locally and internationally. Among its key features are exclusive discounts on booking.com, enticing offers on dining experiences, and the convenience of instalment payments through BML EasyPay.
Central to the ethos of the BML Islamic Credit Card is its adherence to the principle of Ujrah, wherein an agreed fee is charged for providing services to customers. This aligns with Islamic finance principles, offering a viable alternative for individuals seeking Shari'ah-compliant payment solutions.
Customers can also enroll in the BML Rewards program, accruing points with each credit card transaction. These points can subsequently be redeemed for various rewards, including flights, accommodations, or vouchers from local and international merchants.
Hassan Kalaam, Director of Islamic Banking at BML, expressed his enthusiasm, stating, "BML Islamic Credit Cards are designed to meet the needs and preferences of our customers who wish to use a Shari’ah-compliant payment solution. We are delighted to introduce these cards as part of our efforts to expand BML Islamic in line with our customer demand and is part of our ongoing commitment to support the development of Islamic finance in Maldives."
Divya Jain, VP/GM, Global Network Services, Asia and South Pacific Growth Markets, American Express, echoed this sentiment, emphasizing the card's tailored approach to the Maldivian market. "This card, uniquely crafted for the Maldives market, reflects our commitment to delivering unmatched value and access to global benefits for Bank of Maldives Card Members," she remarked.
The BML Islamic Credit Card offers versatility, catering to both local and foreign transactions, while boasting advanced security features synonymous with other cards from the bank. Available in Standard, Gold, and Platinum variants, it caters to diverse customer preferences and financial needs.
For those interested in acquiring the BML Islamic Credit Card or seeking additional information, details are available on the Bank's official website: https://www.bankofmaldives.com.mv/islamic/cards/credit-cards
This pioneering initiative underscores BML Islamic's commitment to fostering financial inclusion and innovation while upholding Islamic finance principles, further enriching the banking landscape of the Maldives.