Maldives Islamic Bank Issues Over 1.4 Million Bonus Shares Following Strong 2024 Performance

Maldives Islamic Bank (MIB) has issued over 1.4 million bonus shares to its shareholders, reflecting a year of robust financial performance and continued growth.

A total of 1,464,338 ordinary bonus shares have been officially listed on the Maldives Stock Exchange (MSE). This follows the bank’s Annual General Meeting (AGM) earlier this month, where shareholders approved a 50% cash dividend from the bank’s 2024 profits.

In total, MVR 103 million has been allocated in dividends, equating to MVR 4.58 per share—a 58% increase compared to the previous year.

The bank is currently in the process of depositing the bonus shares into shareholders’ securities accounts via the Maldives Securities Depository (MSD).

MIB marked 2024 as a milestone year, with key highlights including the launch of new service centres, the enhancement of digital banking offerings, and recognition through three international awards for performance and innovation.

As the first and only fully Shariah-compliant bank in the Maldives, MIB also remains the first bank in the country to provide fully digital banking services.