Monday
10th Aug 2026
Dhivehi Edition
Photo: SME Digital
SME Digital will hold a special open day on the 15th of this month to facilitate the refinancing of conventional loans previously issued by the company under Islamic financing principles.
The open day will be held at BML Islamic’s Malé branch from 9 a.m. to 4 p.m.
The initiative is aimed at completing the process of converting all eligible conventional loans issued by SME Digital into Sharia-compliant financing facilities, the company said.
SME Digital has already sent refinancing offers through its SME portal to customers who meet the eligibility requirements.
During the open day, customers will have an opportunity to review their offers with assistance from the SME Digital team and clarify any questions. Customers who accept the offers will also be able to sign the new agreements and complete the refinancing process during the event.
The bank has advised customers to bring their identification cards to verify their identity when processing the refinancing.
Benefits for customers:
SME Digital said converting the loans to Islamic financing will provide several benefits to customers, including access to a new facility structured according to Islamic financing principles, a longer repayment period and a reduction in the amount required to be paid each month.
Customers who have faced difficulties making payments under their existing arrangements will also have an opportunity to improve their credit records by making payments as agreed for six months from the date they sign the new agreement.
The company said this could improve customers’ prospects of obtaining additional financing from SME Digital in the future.
The initiative is part of SME Digital’s broader efforts to transition into a financial institution that provides fully Islamic financing services.