The Capital Market Development Authority has authorised First National Finance Corporation to operate as a Capital Market Entry Agent, as part of broader efforts to open the Maldives’ capital market to foreign investors.
The authorisation, issued on 13 January, follows recent legislative reforms that now allow foreign investors to invest in Maldivian capital market products for the first time in more than four decades. These changes are aimed at attracting international capital, reducing financing costs, and supporting sustainable private sector growth.
Recent amendments to the Maldives Securities Act and the Business Registration Act have expanded the CMDA’s regulatory and development mandate. The updated framework is intended to strengthen the facilitation of securities investments while reinforcing transparency, corporate governance, and investor protection.
Under this new role, First National will serve as the primary point of contact for foreign and expatriate investors seeking to invest in equities, bonds, funds, and other CMDA-authorised securities. Building on its existing financial services portfolio, the firm will support investors throughout the full investment lifecycle.
This includes assistance with registration and know-your-customer documentation, inward investment coordination, investment advisory services, fund management, and brokerage services. First National will also provide record-keeping and reporting support, guidance on exit strategies and divestment procedures, as well as industry insights and market intelligence.
The reforms create new opportunities for international investors to participate in the Maldives’ expanding investment landscape. While tourism remains a central pillar of the economy, market liberalisation provides exposure to a broader range of sectors, including real estate, transportation, infrastructure, renewable energy, and other emerging industries.
Over the past decade, the Maldives has attracted multi-billion-dollar investments into resorts, airports, and urban development projects. Opening the capital market extends these opportunities to a wider pool of investors, allowing portfolio participation in a destination that has traditionally been inaccessible to international capital market investors.
With First National now authorised as a Capital Market Entry Agent, foreign investors gain a streamlined gateway into a market that has remained largely closed for decades.
