The Capital Market Development Authority (CMDA) is an independent institution established under the Maldives Securities Act (2/2006) responsible for regulating and developing the Maldives Capital Market.
CMDA also has the regulatory mandate of supervising the Maldives Pension Administration Office (MPAO) in administering the Maldives Retirement Pension Scheme (MRPS) under the Maldives Pension Act (8/2009).

Key objectives of CMDA

  • To develop a market in which securities can be issued and traded in a fair and orderly manner;
  • To protect and promote the interest of investors and potential investors in securities
  • To regulate and supervise the securities market
  • To take measures to prevent inappropriate conduct in relation to dealings in securities and to prevent conduct of activities affecting market confidence.