Maldives Islamic Bank (MIB) has marked its 15th anniversary by highlighting the growth of its digital banking services and its continued commitment to Islamic finance principles. Since beginning operations 15 years ago, the bank has expanded its range of digital solutions to make banking services more accessible to individuals and businesses.
Over the years, MIB has introduced services including online account opening, instant debit card issuance and digital access to core banking facilities. Customers can now open accounts, apply for Ujaalaa financing and manage their banking activities through the bank’s digital platforms without having to visit a branch.
The bank reported strong growth in digital banking activity during the second quarter of 2026. Internet and mobile banking logins increased from 3.76 million in the first quarter to 4.19 million in the second quarter, representing an 11.4% increase. Digital transactions also rose from 25 million to 29.95 million during the same period, recording growth of 19.7%.
MIB also recorded 3.72 million transactions through ATMs, electronic customer relationship machines (eCRMs), point-of-sale terminals and card services. The bank attributed the increased digital activity to improvements in its FaisaNet, FaisaMobile X and ApplyNow Portal platforms, as well as the continued expansion of its point-of-sale services.
According to MIB, more than 90% of its customers now access banking services through mobile banking and other digital channels without visiting a branch. Its UjaalaNow platform also enables customers to manage Ujaalaa financing services digitally, while ATMs, eCRMs and payment gateways provide additional channels for banking and payment services.
MIB said it has continued investing in digital infrastructure and technology to enhance the security, accessibility and efficiency of its services. The bank’s digital expansion reflects its broader strategy of combining technology-driven banking solutions with Shariah-compliant financial services as it enters its next phase of growth.