BML Islamic has announced a significant investment in the Islamic University of Maldives (IUM) Sanabil project, an initiative poised to establish a state-of-the-art, seven-story campus for tertiary education in the heart of Hulhumalé.

By fully subscribing to the IUM Sanabil Sukuk issued in June 2024, BML Islamic became the first banking institution in the country to invest in an Islamic capital market instrument issued by a statutory body.

Director of Islamic Banking, Hassan Kalaam commented “This investment stands as a testament to BML Islamic’s steadfast dedication to enhancing the Islamic banking and finance sector while simultaneously nurturing the growth of Islamic education. This project will yield long-lasting benefits for both the Islamic University of Maldives and the local community, and will drive the establishment of a knowledge-based economy.”

BML Islamic is a leading provider of Shari'ah-compliant financial solutions in the Maldives, committed to delivering innovative and ethical banking services to individuals, businesses, and institutions.