CMDA Celebrates 17th Anniversary

The Capital Market Development Authority (CMDA) marked its 17th anniversary with a ceremony attended by the Auditor General, Mr. Hussain Niyazy, and other stakeholders in the Maldives capital market. CMDA, established on 26 January 2006, is responsible for developing and regulating the market under the Maldives Securities Act (2/2006).

The Auditor General  highlighted the importance of developing the capital market in the Maldives, strengthening corporate governance, increasing transparency and accountability of companies as well as maintaining investor confidence in the market. In addition, Ms. Aisha Zahira, Chairperson of  the Board of Directors of CMDA, spoke on the objectives of the Capital Market Strategic  Plan. Furthermore, CMDA Chief Executive Officer Mr. Mohammed Hussain Maniku presented  a summary report on the recent developments brought to the market. 

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At the ceremony, awards were presented to the employees of CMDA. In addition, two  awards were given to recognise those who have brought innovative developments to the  capital market. The awards were presented to the Maldives Stock Exchange and First  National Finance Corporation. The Maldives Stock Exchange received an award in  recognition of its development of the ‘Viyana’ platform to operate the newly introduced  ‘Private Securities Segment/Framework’. First National Finance Corporation received an award for the introduction of ‘digital brokerage’ services. The Chief Executive Officer of the  Stock Exchange Mr. Mohamed Aushan Latheef received the award on behalf of the Stock  Exchange. First National Finance Corporation Chief Executive Officer Mr. Hassan Ziyath received the award on behalf of the company. In addition, Dr. Aishath Muneeza was  presented with an award for her valuable services to the development of the Islamic capital  market in the Maldives. 

The event was attended by heads of capital market institutions, listed companies and  stakeholders associated with the capital market.  

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