MIB to close 951 dormant accounts

Maldives Islamic Bank (MIB) has issued notice for closure of 951 dormant accounts in the bank.

MIB reports it has sent letters to owners of the 951 dormant banks, and will be releasing information of the owners it receives no reply from.

The list of dormant accounts was released by the bank this Thursday.

MIB reports money in the accounts will be transferred to Maldives Monetary Authority (MMA) and the accounts will be closed down 60 days from the date the list is published.

MIB requests that owners of the dormant accounts activate their accounts via a transaction or submit a “Customer Information Form” to one of its branches.

MIB reports that money within accounts that remain inactivate by May 24 will be transferred to MMA, and the accounts will be shut down.

Owners who wish to retrieve the money after that are required to submit a “Request to Withdraw Money in Dormant Accounts” form to MIB.