SME Digital Launches Shariah-Compliant Loans Up to MVR 2 Million for Businesses

SME Digital has launched a new Shariah-compliant loan program in Kulhudhuffushi City, specifically designed to provide working capital for small and medium enterprises (SMEs). The scheme aims to help businesses manage cash flow, purchase inventory, and cover operational costs. The financing product offers up to MVR 2 million, with a portion of up to MVR 1 million available without requiring collateral. Repayments can be made over five years, and the plan includes a six-month grace period to ease the initial burden on borrowers. At the launch event, SME Digital CEO Badhurudheen Hassan explained the scheme's purpose. He noted that many businesses seek short-term financial help alongside long-term investment loans. "This product is designed to provide quick solutions to everyday financial difficulties and ensure continuity for entrepreneurs," Hassan said. The launch was part of a three-day community visit to Kulhudhuffushi from March 27 to 29. During the visit, the SME Digital team conducted outreach activities, including a 'Sales Engagement' event to inform local entrepreneurs and assist with applications. The team also visited the city's Saturday market to promote their financial services and support options for business growth. Entrepreneurs interested in the Working Capital Financing scheme can apply through SME Digital's official online portal at www.smedigital.mv.