Capital Market Development Authority (CMDA) tables requirements to formulate investment funds in the Maldives. CMDA is an independent body responsible for developing and regulating the capital market and the pension industry in the Maldives. It has statutory powers to license securities market intermediaries including brokers, dealers, Investment advisers, asset managers, custodians, credit rating agencies as well as Stock Exchanges and central depositories.
The newly formed regulations will permit investment funds to operate in the country through a license granted by the governing body. Investment funds include hedge funds, private equity fund, mutual fund, exchange-traded fund, closed-end fund, trust fund and so on.