MIB opens 24hr service center in Fonadhoo

Maldives Islamic Bank (MIB) has opened a new 24-hour service center in Fonadhoo, Laamu Atoll, expanding its presence in the region to three locations.

The Fonadhoo center was officially inaugurated by President Dr Mohamed Muizzu on Tuesday during his visit to the island. Located at the ferry terminal, the facility offers a range of banking services, including ATM access and digital banking support.

With this launch, MIB now operates service centers in Fonadhoo, Gan, and Kahdhoo. The Gan and Kahdhoo centers were established in July last year as part of the bank’s regional expansion strategy.

ރައީސުލްޖުމްހޫރިއްޔާ، ލ. ފޮނަދޫގައި މޯލްޑިވްސް އިސްލާމިކް ބޭންކްގެ އައު އޭޓީއެމް ހުޅުއްވައިދެއްވުން#RayyithunGaathah #LaamuAtollVisit pic.twitter.com/zPBGq3BVMI

— The President's Office (@presidencymv) October 21, 2025

MIB stated that nearly all its services are now accessible online, allowing customers to:

• Open accounts remotely  
• Register for internet banking  
• Apply for the Ujala Dhiriulhun financing facility without visiting a branch

The bank’s broader infrastructure development includes a plan to install 23 ATMs across 19 inhabited islands next year, following a Memorandum of Understanding signed with the Economic Ministry in November 2024.

MIB currently operates 39 ATMs in 18 islands, and the expansion will bring the total to 62 ATMs across 37 islands, including six USD-enabled machines.

The Fonadhoo center is part of MIB’s commitment to improving financial accessibility and convenience for communities across the Maldives.