Maldives Islamic Bank's 16th AGM Approves MVR 129.6 Million Dividend and Ernst & Young as External Auditor for 2026

Maldives Islamic Bank (MIB) has successfully held its 16th Annual General Meeting (AGM) on 18th May 2026, conducted online through FahiVote, the General Meetings Management System developed by Maldives Securities Depository, marking another milestone in the bank's corporate governance journey.

The meeting commenced with the participation of 57 shareholders and proxy holders, collectively representing 19,110,436 shares, equivalent to 79.74% of the bank's total issued shares, reflecting strong shareholder engagement at this significant milestone meeting.

Financial Statements Approved Unanimously

The Directors' Report and Audited Financial Statements for the year ended 31st December 2025 were approved unanimously, securing 19,100,469 votes, representing 100% of the votes cast, a resounding endorsement of the bank's financial performance and governance standards throughout the year.

Record Dividend Approved

The Board of Directors' recommendation of a total dividend of MVR 129,647,106.45, equivalent to MVR 5.41 per ordinary share for the year ended 31st December 2025, was approved with 19,114,235 votes, representing an overwhelming 99.99% approval from shareholders, reflecting strong confidence in the bank's financial performance and its commitment to delivering value to its investors.

Ernst & Young Appointed as External Auditor

Shareholders also approved the appointment of Ernst & Young as the bank's External Auditors for 2026, with 19,096,699 votes representing a 99.95% approval, ensuring continued independent oversight and the highest standards of financial transparency going forward.