SME Digital has rolled out a new Shariah compliant financing facility aimed at helping micro, small, and medium enterprises acquire essential business assets and boost operational productivity. Applications are now open through the SME Portal.
The facility is available to existing businesses across all sectors and focuses on enabling MSMEs to finance critical assets such as machinery, equipment, business vehicles, and vessel mechanization. The company positions the scheme as a practical solution designed to support expansion, efficiency, and long term economic contribution.
Under the new offering, MSMEs can apply for financing between MVR 100,000 and MVR 5 million. Unsecured options are available up to MVR 1 million with a tenure of seven years and a six month grace period. Secured facilities extend up to ten years with a one year grace period. The annual profit rate ranges from 9 percent to 10.5 percent.
Chief Executive Officer of SME Digital, Badhurudheen Hassan, said the program was developed to address financial pressures faced by existing businesses and to help energize the wider economy. According to him, the facility aims to improve productivity by helping enterprises acquire new machinery and equipment that open doors to new opportunities.
He noted that the initiative is intended to build stronger and more resilient businesses, ultimately supporting national economic progress.
Applications can be submitted online through the SME Portal at smedigital.mv.
