The Maldives Islamic Bank (MIB) has successfully concluded its 16th Annual General Meeting (AGM), approving a total dividend payout of MVR 129.6 million to its shareholders.
During the meeting held on May 18, it was decided that a dividend of MVR 5.41 per share would be distributed.
The AGM was conducted virtually via the Maldives Securities Depository’s "FahiVote" system, with a total of 57 shareholders and proxy holders in attendance. This participation represented 79.74 percent of the bank's total shareholding. Key decisions regarding the bank's financial standing and future strategic plans were finalized during the session.
Upon putting the agenda items to a vote, the 2025 Directors' Report and the audited financial statements were passed unanimously by all participating shareholders. Furthermore, the Board of Directors' proposal to distribute a dividend of MVR 5.41 per ordinary share was approved with 99.99 percent of the vote. This amounts to a total payout of MVR 129,674,106.45.
Shareholders also decided to appoint Ernst & Young as the bank's external auditors for the year 2026. This resolution was passed with the support of 99.95 percent of the shareholders.
Reflecting on the bank's financial growth, MIB’s total assets surpassed USD 1 billion in 2025. This marks a significant milestone in the Maldivian banking sector, particularly within Islamic finance. Established 15 years ago with the objective of introducing Islamic banking to the Maldives, the bank has now evolved into one of the nation's most trusted and fastest-growing financial institutions.
MIB stated that the foundation of its success lies in the trust placed in the institution by its shareholders and customers. The bank further noted its commitment to expanding Shari’ah-compliant services through modern technology and continuing efforts to enhance shareholder value in the future.
