Government of Maldives has purchased 10 percent shares from Maldives Islamic Bank Private Limited. Government bought shares of Islamic Corporation for the development of private sector.
With the previous shares owned by the government, now the government has a total of 25 percent share of the bank.
MIB opened with 85 percent share of ICD and 15 percent of the government. However, since ICD decided to sell some of their shares, government purchased 10 percent of it.
The government said that it is key priority of the government to develop Islamic finance in Maldives. The agreement to purchase shares was signed by Finance Minister Ahmed Munavvar and MD of MIB Mr.Haaris Haaroon.
Government share of MIB increases to 25 percent !
