The Maldives Islamic Bank (MIB) has officially announced that it would be making its shares available to the public on the stock market.
The announcement was made in an event held at Kurumba Maldives last night, where shareholders of the bank signed it into effect.
Currently, 25% of the shares of MIB belong to the state, while 70% belongs to the Islamic Corporation for the Development of the Private Sector and 5% belongs to the insurance company, Amana Takaful.
Although the company stated that it would be making shares available on the Maldives Stock Exchange, it did not mention what percentage of the shares would be included. This information is scheduled to be announced at a later date.
The Maldives Stock Exchange currently has nine registered companies. They are the Maldives Transport and Contracting Company (MTCC), Dhiraagu, Ooredoo, the Bank of Maldives, Amana Takaful, the Housing Development Finance Corporation (HDFC), and Centurion PLC.