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M
Mandate
A written instruction, normally in the bank's standard form, naming a person (the mandatee) who is authorised to sign and operate the current account.
Margin of Financing
The loan amount granted by the banking institution, expressed as a percentage of the value of property pledged to secure the loan.
Margin of Financing
The financing amount granted by the Islamic banking institution, expressed as a percentage of the value of property pledged to secure the financing.
MEPS
A consortium set up by domestic banking institutions to provide shared banking services, such as shared ATM network and Interbank GIRO
Merchant
Any business that accepts credit cards as one of the payment modes for the purchase of their products/services.
Merchant
Any business that accepts charge cards as one of the payment modes for the purchase of their products and/or services. 
Minimum Income
Minimum annual income of applicants required by card issuers to qualify for a credit card.
Minimum Interest Free Period
Grace period where no interest is charged on amount incurred, usually 20 days, from the posting or statement date up to the due date, except for cash advance and balance transfer. Grace period is only applicable for purchases.
Minimum Loan Amount
The minimum amount of loan required by banking institutions when applying for the loan package.
Minimum Loan Period/Tenure
A shortest period / tenure, normally in number of years, where banking institutions would provide loan or financing (that is, not shorter than minimum period).
Minimum Monthly Payment
Minimum payment to be made by cardholders for the month.

Monthly Rest Interest
Interest on housing loan calculated on a monthly basis based on current outstanding balance.
Mortgage Reducing Term Assurance (MRTA)
A term insurance which reduces over the tenure of the loan. This form of insurance is used to provide cover for the outstanding loan amount, in the event of death or total permanent disability of the insured. MRTA is normally calculated to meet the outstanding loan amount.
Mortgage Takaful (Mortgage Reducing Term Assurance or MRTA)
A family takaful plan which will automatically settle a customer's house financing-i in the event of his/her death or permanent disability. Once the financing has been redeemed, the ownership of the property will be released to the customer or his/her beneficiary. The customer will pay a single contribution for the mortgage takaful when the financing is taken. The contribution rate will depend on the age, and the amount, profit rate and term of financing.