The Board of Directors of Maldives Islamic Bank (MIB) has decided to propose to the Annual General Meeting to disburse MVR 103 million as share profits.
The Board of Directors of Maldives Islamic Bank (MIB) has decided to propose to the Annual General Meeting to disburse MVR 103 million as share profits.
The proposal is to pay MVR 4.58 per share, which is a 58 percent increase from 2023. They are proposing to 50 percent of profit as cash dividend and the rest as bonus share.
Bonus share will be issued at the rate of MVR 35.
The cash dividend and bonus share will be issued to all shareholders of the bank until the date of the 15th Annual General Meeting of the bank.
The proposal will be voted on during the 15th Annual General Meeting which will be held this year. MIB said that notice of the meeting and other details will be shared next month.
MIB describes the preceding year as a successful year for the bank. Last year, the bank introduced new service centres and further advanced digital banking facilities. The bank also received three international awards last year.
MIB is Maldives' first fully fledged Islamic bank. They were also the first to offer all their banking services online.
Sign In