Level Up with Favara

The wait is now over! With FaisaMobile+Favara Instant payment system you can now instantly transfer funds between domestic banks.

Instant Funds Domestic Funds Transfer

With Favara you can instantly transfer funds between any domestic bank.

Safety Limits

Send up to MVR 50,000 and request to pay up to MVR 5000

A visual guide on how to use Favara on Faisanet

Favara Overview

Favara comes with the power to transfer funds instantly between domestic banks within seconds.

  1. Favara Request to request for payment and receive securely

  2. Favara Transfer to make instant funds transfer across domestic banks

  3. Favara ID to quickly search and verify recipients

  4. Recall transfers and payments

and more

How to Access

Favara is embedded into Faisanet for easy access. The power of business class at your finger tips. Follow these tips to make Faisanet your go to Banking App on your Mobile

  1. Open Faisanet on your mobile phone browser.

  2. Choose more options and add to Home Screen

  3. Login to Faisanet

  4. Choose Favara from the side menu

Favara ID

Easily create Aliases that can identify you instead of a long account number. You can choose the following as your alias

  • ID Card Number

  • Email Address

  • Phone Number

Alias should be identical to the information registered under your account.

When you want to make a transfer or request for a payment simply input Favara ID and perform a lookup to fetch the account information within seconds.

To create Favara ID

  1. Choose Favara > Favara ID on the side menu

  2. Create New Favara ID

  3. Choose alias to use as Favara ID and submit details

  4. Create ID

Favara Transfer

Use Favara to instantly send funds domestically to all participating banks. Follow these quick steps to make a quick and easy transfer

  1. Choose Favara > Favara Transfer on the side menu

  2. Choose your funding source

  3. Identify the recipient using their Favara ID or account number

  4. Confirm with OTP and send

Your funds will be with the recipient within seconds.

Receiving Funds

Its just like receiving a deposit to your account your funds coming through Favara gets deposited to your account instantly.

If you want to see Favara Transfer activities separately, choose the view transfer option under the Favara menu.

Favara Request

With Favara Request you can send a request to any user and request for payment and approve the request.

To request for payment

  1. Choose Favara > Favara Request on the side menu

  2. Identify the payer using Favara ID or account number

  3. Select your account to deposit

  4. Send Request

To authorise payment

  1. Choose Favara > Incoming Favara Request on the side menu

  2. Choose the request to approve.

  3. Approve or Reject

Recall transfers

Easily recall payments and undo your mistakes by sending a request for recall.

To request for recall

  1. Choose Favara > View transfers from side menu

  2. Click the recall button of the corresponding transaction you want to recall

  3. Add details and click submit

To accept recall

  1. Choose Favara > Incoming Recall from side menu

  2. Choose recall request

  3. Approve or reject

How to Videos


You will always receive a payment slip and you can download the payment slip from MIB Internet banking or Mobile Banking app. Also, you will receive a SMS notification once the payment is deducted from your account.

Once you enter the beneficiary account number or favara ID the name of the account will be visible. Please make sure all details match before sending the request.

You can also create an alias as a favara ID using the email address, phone number or ID card number. Please note that these details much match with your information given to the bank.

There are NO charges for this.

Favara can be use domestically only.

Favara request is a request to pay service where you can request another person to pay you a certain amount of money, once the beneficiary accepts the request, money will be transferred to the receiver account who initiated the request to pay.

Yes, once the request is accepted from the beneficiary, the funds will be transferred to the receiver account who initiated the request.

No, this service is free of charge.

You can always reject requests to pay if you receive a request to pay from an unknown person.

You can send and receive payments instantly to and from your MIB account to other local bank accounts. The payment will be deposited to the beneficiary account instantly.

You can check the requests you have received from 'Incoming favara request' section in the navigation menu.

You can check the requests from 'Outgoing favara request' section in the navigation menu.

  • Step 1: Select favara from Faisanet navigation.

  • Step 2:  Select favara pay

  • Step 3:  Add the account or favara ID of the payer

  • Step 4: Add the account which you wish to receive the money.

  • Step 5: Add the amount and reason and click review.

  • Step 6: press confirm, and the request will be sent to the payer


  • Favara Transfer - upto mvr 50,000

  • Favara Request - upto MVR 5,000

These limits may change at a later date

An account alias is used to easily recognize you on favara. You can create an favara ID using your email address, mobile number, or ID card number that you have provided to the bank.

If you think you transferred the money to a  wrong person or if you have any other valid reason to recall the payment do as follows:

  1. Press the edit button in the right corner towards each transaction.

  2. Write the reason in the dialogue box.

  3. Add a comment if required and press “confirm”.

Select incoming favara recall requests from the navigation menu and approve those requests to complete the recall process.

A recall request can be made within 10 days from the transaction date.

The login page on FaisaNet will allow you to reset your password on your own. If you have trouble resetting by yourself, please contact our agents who will assist you in resetting your password. 

Your account number, passphrase, email address and phone number. If you require any assistance in obtaining the information, please get in touch with one of our customer care agents.

Yes, it does. You will need an OTP to perform transactions and login. 

You can choose between SMS, and an Authenticator Application. We recommend choosing Microsoft authenticator application to ensure the highest level of security.

You can enjoy up to MVR 200,000 as a transaction limit per day. If your transaction limit has been set lower than MVR 200,000 and wish to change, please submit a request via the messaging platform on FaisaNet. Our agents will assist you to change it based on your requirement. 

Parents or Guardians with the mandate to operate the account can request to add the associated account to their profile in FaisaNet. Please submit your request through ApplyNow Portal or via messaging on FaisaNet/Faisamobile.

You can add the profile to your FaisaNet account. Once the profile has been added, you can simply switch and operate the accounts as desired. 

You can fill the FaisaNet User application form and submit via our apply now portal or to any of our branch and distribution centre. 

Get in touch with us so we can help you retrieve your credentials. The easiest way is through chat or send a request through email and we will contact you.

You can apply from the ApplyNow portal or submit an application form at one of our branch and distribution centres. You can also self-register after downloading the FaisaMobile Application from the relevant store. 

If you would like to change your OTP method to Authenticator App, you may login to internet banking via browser and follow the below steps.  

  • Personal profile > Select your preferred channel to receive OTP > Authenticator App. 

  • Once you choose authenticator app, we will send you an email with activation details. 

  • Afterwards, you may download an Authenticator app from the appropriate store and activate it using the given information. 

Parents or Guardians with the mandate to operate the account can request to add the associated account to their profile in FaisaNet. Please submit your request through ApplyNow Portal or via messaging on FaisaNet/Faisamobile.

You may take bank statements by logging in to FaisaNet.

Follow these steps below once logged in. 

  • Accounts > Select account number > Choose the preferred date (From- To) 

f you would like to cancel a transaction, kindly please forward us a message from FaisaNet requesting to cancel the transaction with a screenshot of the transfer slip with the reason stated.  


Send a email with the following information to [email protected]

  • Transaction date  

  • Amount  

  • Reference Number  

  • Reason to cancel the transaction  

Yes. You can now do the following using Faisanet

  1. Activate Card

  2. Change PIN

  3. Freeze Card

  4. Block Card

Favara is a system managed by the Central bank of Maldives, The Maldives Monetary Authority to allow its users to transfer funds instantly within the participating local banks.

As of August 2023, 3 Banks have participated in this Scheme which are.

  • Maldives Islamic Bank

  • Bank of Maldives

  • State Bank of India (Maldives Branch)

There are three main features of this service, which are:

  • Instant Transfers to Participating Banks

  • Request to Pay

  • Request to Recall the payment.