A USD 5 Million Mukhabarah financing facility has been granted to the national bank, Bank of Maldives (BML) by the International Islamic Trade Finance Corporation (IITFC) to assist small and medium business operating in the country to import goods from abroad.
A member of the Islamic Development Bank, IITFC has been providing such assistance to various banks in different countries across the globe.
BML’s CEO Tim Sawyer welcomed the assistance and assured that the bank is working in ways to assist businesses recover during these harsh times.
