The Maldives Islamic Bank (MIB) has decided to roll out “FaisaMobile X” in this year’s fourth quarter with major updates to “FaisaMobile.”

The updates planned for MIB’s FaisaMobile were announced at the “Breaking Barriers in Business Banking” event held by the bank on Thursday.

FaisaMobile X:

According to MIB, FaisaMobile X will be introduced after seeking the opinions of customers to reflect their preferences.

Swift transfers, Favaru transfers, bulk transfers and scheduled transfers can be made through the app, the bank said.

“Personal cards and business cards can be managed through FaisaMobile. The app will also allow activation of cards and changing of pins. And expense cards can be topped up as well,” MIB said.

All existing FaisaNet services will be available through the app and customers can also switch between personal and business accounts, MIB said.

In addition to viewing all accounts on the app’s dashboard, pending transfers can be approved and the quick access menu can be customised.

FaisaNet ID:

Customer identities can be verified digitally through FaisaNet and business customers can use the app to to submit various requests and applications.

MIB said FaisaNet ID will provide protection for customers, adding that the bank has assured customer safety and security to date.

Customers can log in to FaisaMobile X using their FaisaNet ID.

New features in addition to FaisaNet ID will be added to FaisaMobile X when the apps are launched, MIB said.

MIB has also made fully digital arrangements for customers to open business accounts and allowed overdrafts under a Shariah-compliant structure.