On Friday, Maldives Islamic Bank (MIB) introduced an exciting lineup of new products, including “FaisaWear” luxury payment rings, at a launch event in Hulhumale's Central Park, complete with a spectacular fireworks display.

A standout feature of MIB’s new offerings is FaisaWear, luxury payment rings that replace traditional cash cards and bring a fresh innovation to the Maldivian market. These rings allow customers to make payments with a simple tap, combining style with seamless functionality. FaisaWear is available in various sizes and four distinct designs: black diamond-cut, black plain, black floral, and white floral. Starting Sunday, customers can purchase FaisaWear rings from the MIB Business Center in Malé and branches in other islands.

MIB also launched FaisaMobilex, a redesigned mobile banking app that enhances secure and convenient banking experiences. With an intuitive interface and advanced features, FaisaMobilex enables customers to easily switch between multiple accounts they have access to. The app will be available for download from the Google Play Store and Apple App Store starting Monday.

The event introduced “Bingaa,” MIB’s new suite of kids’ accounts, designed to promote financial literacy from an early age. Bingaa includes three unique accounts—Bingaa TRX, Bingaa Save, and Bingaa Invest—each tailored to foster financial responsibility. Bingaa TRX even includes a cash card for young users, allowing parents to set spending limits. With comprehensive parental oversight, Bingaa is crafted to grow with young savers and help them build healthy financial habits.

MIB remains the only bank in the Maldives to offer instant account opening services through its full suite of digital services, eliminating the need for physical visits.

With the launch of these new products, MIB reaffirms its commitment to innovation, offering both convenience and luxury to meet the diverse financial needs of its customers.