Economic Ministry Teams Up with MIB for Streamlined Business Verification

The Economic Ministry has entered into an agreement with Maldives Islamic Bank (MIB) aimed at enhancing the efficiency of the business registration verification process.

Described as a “landmark” agreement by the Economic Ministry, the deal was formalised on Thursday through the signatures of Registrar of Companies Mariyam Visam and MIB’s Deputy CEO Ahmed Riza.

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This agreement is centred around the Boli API, a new technological integration poised to revolutionise the customer onboarding experience for businesses.

The Boli commercial API promises to streamline the integration of digital services, thereby eliminating bureaucratic hurdles and fostering a more agile and responsive customer service framework.

Key benefits of the Boli API include a faster business onboarding process, reduced bureaucracy, improved customer service experience, and enhanced data security and privacy.

The Economic Ministry has lauded this agreement as a pioneering step, emphasising its unique approach to data sharing while safeguarding data privacy.

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