MIB launches FaisaRemit for international money transfers
Maldives Islamic Bank has launched FaisaRemit, a digital remittance service allowing customers to send USD 50 to 5,000 to bank accounts and wallets in 15 countries through FaisaNet.
By Rishwan Share
Maldives Islamic Bank (MIB) has introduced FaisaRemit, a new digital remittance service that allows customers to send money abroad through FaisaNet internet banking without visiting a branch.
The service allows individual customers to transfer between USD 50 and USD 5,000 per transaction to supported bank accounts and mobile wallets across 15 international destinations, including India, Sri Lanka, Bangladesh, the Philippines, Malaysia, Singapore, the United Kingdom and the United States.
According to MIB, most transfers processed through FaisaRemit are credited to beneficiaries near instantly or within the same day, though some routes may take up to two days depending on the destination, receiving institution and payout method.