Maldives Islamic Bank share profits of 2019 to be distributed

Head office of Maldives Islamic Bank. (Sun Photo)

The Maldives Monetary Authority (MMA) has permitted the Maldives Islamic Bank (MIB) to distribute shares from profits earned in 2019, MIB has announced.

The Annual General Meeting of the MIB was held on July 23, 2020, where it was passed to distribute MVR 1.575 per share. MIB stated that the profits of the shares would be distributed through bank deposits provided by the shareholders.

Those requesting for change of information can do so before March 9. 36 percent of the shares in MIB is held by Islamic Corporation for Development of Private Sector (ICD), while 28 percent of the shares are held by the state. 10.53 percent of the shares are also held by the pension office while Amana Takaful holds five of the shares. The remaining 20.47 percent is held by the public.