Maldives Islamic Bank (MIB), the country’s first fully Shariah-compliant financial institution, has announced plans to distribute MVR 103 million to its shareholders, following a robust performance in the past year. The Board of Directors has proposed this payout for approval at the upcoming 15th Annual General Meeting, marking a significant increase in shareholder returns compared to the previous year.
According to the proposal, each shareholder will receive MVR 4.58 per share, an increase of 58% from 2023. The proposed disbursement includes a 50-50 split between cash dividends and bonus shares. Bonus shares will be issued at a rate of MVR 35 per share, with entitlements extended to all shareholders listed up to the date of the Annual General Meeting. The final decision on the proposal will be made at the AGM, with official meeting details expected to be announced in the coming month.
MIB attributed this proposed return to a successful year in business expansion and innovation. In 2024, the bank launched new service centres and introduced enhancements to its digital banking infrastructure, making its services even more accessible to customers across the Maldives. MIB has also received international recognition for its service quality and operational excellence, securing three prestigious global banking awards over the past year.
As the first bank in the Maldives to provide fully digital Islamic banking services, MIB continues to play a leading role in shaping the country’s modern banking landscape. With its commitment to ethical finance, technological innovation, and customer convenience, MIB remains a key player in the financial sector and a trusted institution for both local and international investors. This latest move to reward shareholders reflects the bank’s continued growth and its solid position in the Maldivian economy, an encouraging development for foreign investors looking at the Maldives as a destination not only for tourism but also for strategic financial partnerships.
advertisment
advertisment
