Legal & Regulation Department
Legal & Regulation Department has the responsibility to undertake licensing, market regulation, supervision & surveillance activities to ensure fair, transparent and orderly conduct of securities business by market intermediaries. The department has the mandate to monitor compliance to disclosure & corporate governance requirements by issuers as prescribed under the relevant laws & regulations. Legal and regulation department also has the responsibility to undertake all tasks related to the enforcement of the securities Act and the regulations made there under. The department also takes forward the processes to draft the necessary regulations to facilitate market development and to provide legal support for matter concerning market regulation.
Market Development Department
Market Development Department has the responsibility to undertake activities to promote issuance of securities in the Maldives Capital Market. The department has the mandate to undertake research on new capital market products and services suitable to be introduced in the market. The department also undertakes research to identify potential companies to issue securities, approach them with access to finance proposals and assist them through the going public & IPO processes. Additionally, the department is mandated with undertaking research to identify opportunities for the development of the Maldives Islamic Capital Market.
Pension Supervision Department
Pension Supervision Department has the mandate to undertake supervision of the Maldives Pension Administration Office (MPAO) in administering the Maldives Retirement Pension Scheme (MRPS) under the Maldives Pension Act and regulations there under. The department also has the mandate to undertake supervision of the custodian for the Maldives Retirement Pension Scheme under the license issued by the CMDA. Pension Supervision Department undertakes all the work related to strengthening pension supervision functions of CMDA.
Education & Training Department
Education & Training Department has the responsibility to undertake education & training activities for the development of the Maldives Capital Market. The department has the mandate to operate the training institutes of CMDA.
CMDA Institute aims to undertake education & training activities to increase market awareness among stakeholders including issuers, investors, and other public and private sector institutions. The institute also aims to conduct training programs and examinations to ensure professionalism of market intermediaries engaging in capital market activities.
The Corporate Directors & Secretaries (ICDS) aims to undertake education & training activities to ensure professionalism of corporate directors & secretaries and to undertake activities to promote corporate governance in the Maldives.
CEO bureau has the mandate to undertake functions related to providing secretarial services to the board of directors, to the chief executive officer, to the Capital Market Sharia Advisory Council (CMSAC), and to the Senior Executive Committee (SEC) of CMDA. CEO’s bureau also has the mandate to manage international relations, media relations and handle any information requests submitted to CMDA by external parties.
Corporate Services has the mandate to undertake all functions related to financial management, HR management, admin, and IT management of CMDA.