Maldives Islamic Bank (MIB) has upgraded its internet banking to provide a convenient dollar exchange service.

MIB said the upgrade was brought for convenience as some businesses are now required to exchange dollars under new regulations.

MIB said its secure dollar exchange service will benefit both businesses and individuals.

The bank added that customers can enter the money exchange portal through internet banking and fill in the required information. The amount for the exchanged money will be immediately deposited into the customers' Rufiyaa account.

"MIB's Internet Banking FaisaNet is an easy to use and secure service. The service uses two-factor authentication and also has dark mode,” MIB said.

The country's first and only fully fledged Islamic bank is offering many secure services with the help of technology.

MIB is the only bank in Maldives that allows customers to open an account without going to the bank.