MIB launches Faisa Mobile X 2.0 to refine banking services

Sep 14, 2026, 9:38 PM
MIB upgrades Faisa mobile X 2.0

MIB upgrades Faisa mobile X 2.0

Maldives Islamic Bank (MIB) has rolled out a major upgrade to its mobile application, "Faisa Mobile X 2.0," as part of its efforts to further enhance and refine its digital banking services.

This upgrade aims to provide customers with a more convenient, faster, and secure banking experience. With the new update, the application's user interface has been completely redesigned to ensure a more seamless and user-friendly experience.

In addition to the "Smart Search" feature, which allows for quicker transactions by searching for account numbers and names, the app now includes "Faisa Remit," an international remittance service that enables users to send money abroad with ease.

While security measures have been strengthened to ensure the safety of customer data and funds, the bank also plans to introduce several new services through the app in the future to further simplify the lives of its customers.

MIB stated that it remains committed to utilizing modern technology to elevate the banking experience for its customers to new heights.

Comments

Read More

Latest News

CBM re-auctions Malé land plots following loan repayment defaults

The Commercial Bank of Maldives is re-auctioning two land plots in Malé after the owner defaulted on loan repayments. The properties, Maafannu Doragali 2 and 3, have a combined reserve price of MVR 3.8 million. Interested bidders must submit their offers by November 1 with a mandatory bid security of MVR 25,000.

Turkish firm ordered to pay MVR 25 million in unpaid taxes

The Maldives High Court ordered Turkish firm Turmaks to pay MVR 25 million in unpaid GST for materials used to build Tree Top Hospital. The court upheld MIRA's assessment, rejecting the company's claim that a verbal agreement shifted tax liability. The ruling emphasizes that the burden of proof for tax exemptions lies with the taxpayer.

Tax offset will be finalised when govt pays MIRA

The Maldives government has launched a mechanism allowing businesses to offset tax liabilities against debts owed to them by the state. The offset is only finalized once the relevant government agency transfers the funds directly to the tax authority. This move aims to address payment delays and support the private sector.

Addu Airport Company's losses climb to MVR 817 million

Addu International Airport Company’s total losses have reached MVR 817 million, resulting in a negative net worth. Despite a threefold increase in revenue from fuel sales, soaring operating costs and regulatory fines led to a MVR 68 million loss last year. The company remains operational through loans from the government and Kasa Holdings.

Customs struggles to recover unpaid duties and fines, audit finds

An audit reveals the Maldives Customs Service is struggling to recover MVR 461 million in unpaid duties and fines. Challenges include a weak legal framework, poor inter-agency information sharing, and lengthy delays in enforcing court judgments. Officials are now being urged to strengthen enforcement actions against defaulting parties.

One month free by paying FDC rent through DhiraaguPay

Dhiraagu Fintech is offering FDC flat tenants a chance to win a full month’s rent waiver by paying through DhiraaguPay. Two lucky winners will be selected via a lucky draw each month until the end of December. This promotion aims to encourage the use of digital platforms for secure and convenient financial transactions in the Maldives.

Muizzu announces tax offsets and duty exemptions for SMEs

President Muizzu announced tax relief for SMEs, allowing them to offset tax liabilities against outstanding government payments. The plan includes raising the GST registration threshold to MVR 1.5 million and exempting small businesses from import duties on specific goods starting in 2027 to ease financial burdens.

Newsletter

Get the latest news delivered straight to your inbox