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Bond Market

The introduction of Bonds to the capital market represents a further milestone achieved in the development and modernization of the securities markets.

The Housing Development Finance Corporation (HDFC) has gone through history, as being the first ever company to issue bonds in the Maldives. The HDFC bonds were listed on the Securities Trading Floor in 2006. The HDFC is no longer listed on the Stock Exchange and as such the bonds are not available for trading.

The Maldives Monetary Authority has issued treasury bills. In some countries of the world T bills are traded on the Exchange.

Procedure for bond issue:

  1. Public offering of bonds should be as per the requirements setout in the prospectus guidelines.
  2. A prospectus approved by the Registrar of Companies need to be made public.
  3. Approval from the CMDA and the Maldives Stock Exchange need to be sought for listing the bonds.

For more information on issuance and listing of bonds call 333 6623


Stakeholder Discussion on Corporate Bond Market Development

please download and fill out the following questionnaire and forward to mail@cmda.gov.mv

Download Questionnaire

Please call 3336619 or send email to mail@cmda.gov.mv if you have further questions or queries.


Seminar on Investment Advisors Regulation and Bond Market Development

CMDA held a seminar on 6th May 2008, on Investment Advisors and Bond Market Development.

In the morning session, the investment advisors regulation and issues in setting up investment advising companies were presented by Dr. Charles Asembri from Commonwealth Secretariat. Further Mr. Maqbul Rahim from Commonwealth Secretariat briefed the participants on the developments of regulatory framework of Maldives capital market.

Participants raised issues relating to the limited potential in Maldives in terms of number of investors, listed companies and regulatory environments. Mr Maqbul and Dr. Charles addressed these issues and stated that countries with similar characteristics has worked out same issues and Maldives could resolve the existing problems.

Download Slides on Investment Advisors

 

In the evening session on bond market development, Mr. Rabel Akhund presented on bonds structures including Islamic bonds. Mr. Rabel also discussed the procedure involved in issuing Islamic bonds and the essential laws and regulations that must exist for Sukuk issues to take place.

Panel of speakers addressed and explained various issues raised by the participants.

Download Slides on Bond Market Development

For further queries, please email us at mail@cmda.gov.mv

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