Maldives Islamic Bank’s CEO, MD Muhaimen suspended!

Maldives Islamic Bank’s (MIB) CEO, Managing Director Abul Ehtesham Abdul Muhaimen has been suspended.

The Bank said that the decision to suspend Muhaimen was taken by its board of directors on last Tuesday – whereas Muhaimen was informed of his suspension yesterday.

They further detailed that he was suspended over a case that the Bank is currently investigating. However, the Bank did not disclose any further details regarding the case.

With Muhaimen suspended – MIB’s Chief Operating Officer Ahmed Riyaz has been appointed acting-CEO.

Muhaimen was appointed the CEO of MIB on January 17, 2019.  He is a Bangladeshi national who has previously served as the CEO, Managing Director of Bangladesh’s United Commercial Bank (UCB). Prior to that – he had also served as the CEO, Managing Director of one of the largest banks operating in Bangladesh – BRAC Bank limited.