MFLC Maal is the Islamic financing division of MFLC offering Shariah-compliant products to support customers’ asset and home financing needs without involving interest-based transactions.

MFLC Maal products are structured under globally recognised Islamic contracts such as Diminishing Musharakah and Ijarah Bi Tamleek, approved by our Shariah Supervisory Board.

You can contact us from our land line number 3315605/3315606 For any requests or any information you can communicate with us via info@mflc.mv

No. Both products avoid riba (interest). Payments are structured as rental or asset purchase instalments under Shariah-compliant contracts.

Diminishing Musharakah is a co-ownership partnership where MFLC Maal and the customer jointly acquire an asset (e.g. home). The customer gradually buys out MFLC Maal’s share through agreed instalments until full ownership transfers to the customer.

Repayment consists of two components: Rental payment for using MFLC Maal’s share of the property Purchase payment to acquire MFLC Maal’s share gradually.

Currently, MFLC Maal offers this product for residential properties. Other categories may be evaluated based on Shariah and operational approval.

Ijarah Bi Tamleek is a lease-to-own contract. MFLC Maal purchases the asset (e.g. vehicle or equipment) and leases it to the customer for a fixed tenure. Upon completion of lease payments, ownership is transferred to the customer via a separate transfer contract

Unlike a conventional lease, Ijarah Bi Tamleek ensures: No interest (riba) involvement MFLC Maal retains ownership risk during lease tenure Clear end-of-lease transfer mechanism in compliance with Shariah.

Currently, MFLC Maal offers Ijarah Bi Tamleek for vehicles and capital equipment. Other asset categories may be added as per customer demand and Shariah approval.

Yes, MFLC Maal’s Diminishing Musharakah structure is similar to HDFC Islamic home financing, while its Ijarah Bi Tamleek mirrors BML Islamic’s vehicle and asset lease-to-own products, adhering to globally accepted Islamic finance models.

Eligible customers include individuals and businesses meeting MFLC’s credit and Shariah requirements. Specific documentation and down payment may apply per product.

Application forms will be available from MFLC Head Office, hulhumale’ office and also can be downloaded from our website via the Downloads section on our website : www.mflc.mv Submit the required documents to one of our branches (male’ or hulhumale’) or email all documents to apply@mflc.mv

Application forms will be available from MFLC Head Office, hulhumale’ office and also can be downloaded from our website via the Downloads section on our website : www.mflc.mv Submit the required documents to one of our branches (male’ or hulhumale’) or email all documents to apply@mflc.mv

If all the required documents are in order, on average, it takes between three to five working days to process lease & loans.