Board Decisions
2011
December
- Resolved to appoint a Chief Finance Officer (CFO) of the Authority
- Resolved to pass the Guidelines on Principal Advisers
- Resolved to cancel the Dealer’s License issued to T.H.E Financial Services Pvt Ltd
- Resolved to sign MOU with the International Center for Education in Islamic Finance (INCIEF)
- Resolved to appoint a consultant for the Capital Market Shari’ah Advisory Committee (CMSAC)
- Endorsed the winner of Employee of the Year Award 2011
November
- Resolved to become a member of the International Organization of Pension Supervisors (IOPS)
- Resolved to sign MOU with Securities Exchange Board of India (SEBI)
- Resolved to pass the Off Market Share Transfer Rules
October
- Granted approval for appointing two new members to the Board of the Maldives Stock Exchange
- Passing of Fixed Asset Policy of the Authority
- Approval to issue a Dealer's Representative License
September
- Passing of the Authority budget forecasted for the year 2012
- Passing of Regulation on Issuance of Securities
- Passing of Guidelines on Approving Advertisement relating to Securities
- Passing of Guidelines for Underwriting of Securities by Banks
August
- Decision to establish the Islamic Capital Market Development Section
- Passing of the Authority budget forecasted for the year 2012
- Passing of Regulation on Issuance of Securities
- Passing of Guidelines on Approving Advertisement relating to Securities
- Passing of Guidelines for Underwriting of Securities by Banks
- Approval of forecasted budget of the Authority for the year 2012
- Discussion on restructuring the Maldives Stock Exchang
- Approval of Policy on Appointment of Deputy to the CEO
- Appointment of Deputy to the CEO
- Approval of additional verification forms of the members nominated to the MPAO Board
July
- Passing the composition of the Institute of Corporate Directors and Secretaries (ICDS) Advisory Committee
- Approval of ICDS Business Plan
- Approval of licensing a Credit Rating Agency
- Discussion on Policy issues for Corporate Governance Reform
- Discussion regarding the Corporate Credit Card policy
- Decision to request Presidents Office to raise Authority’s paid up capital
- Discussion on the ICDS Business Plan
June
- Approval of amendments to the Listing Rules of the Maldives Stock Exchange to facilitate listing of Islamic Securities
- Approval of amendments to the Debt Listing guidelines to facilitate listing of Islamic Securities
- Passing of the 'Approved Shariáh Concepts and Principles for the Purpose of Structuring, Documenting and Trading of Shariáh Compliant Securities'
- Approval of fee for resource persons of the Authority
- Discussion on establishing a Capital Market Information Point
- Approval of Amana Takaful Maldives Plc to list on the Maldives Stock Exchange
- Approval of amendment to the definition of Securities in the Maldives Securities Act (02/2006) to include Islamic securities
- Approval of First Option Pvt Ltd’s license to provide brokerage services
- Approval of Dhivehi translation of Rules on Credit Rating Agencies
May
- Passing of Guidelines on Shariáh Compliance Review for Pre-IPO Securities
- Passing of the amendments proposed to the Listing Rules of the Maldives Stock Exchange
- Approval of the IPO processing fee for conventional securities
- Approval of Prospectus vetting and IPO processing fee for companies applying to issue Shariáh compliant securities
- Passing of the ICDS Logo
- Passing of Capital Market Shariáh Advisory committee’s Operational Guidelines
- Approval of composition and appointment of the Capital Market Shariáh Advisory Committee.
- Approval of remuneration for Shariáh Advisory Committee Members and the Committee Secretariat
- Passing of the revisions proposed to the Capital Market Strategic Plan (2010-2014) to include Islamic Capital Market.
April
- Endorsement of Annual Report 2010
- Discussion on amending the qualification requirements of employees
- Passing the policy on appointment of Sections Heads of the Authority
- Approval of Dhivehi translation of Regulation on Anti-Money Laundering in Securities Related Transactions
- Approval of the Dhivehi translation of Securities (Compensation Fund) Regulations 2010
- Approval of the Dhivehi translation of Regulations on Institutions Providing Custodial Services
March
- Passing of 'Trading Membership Rules of Maldives Stock Exchange'
- Passing of the Audited Financial Statements of the Authority for the year 2010
- Decision to allocate the scholarship budget for specialized training to employees
- Passing of the 'Regulation on Collective Investment Scheme'
- Passing of the 'Regulation on Asset Management'
- Approval of amendments to the CMDA Scholarship Rules
- Approval of Policy on Impairment of Assets
February
- Reviewing of the methodology and assumptions proposed by Care Ratings Maldives
- Approval of Practice Note for the Appointment of Auditors of Listed Companies.
- Discussion on the whistle blowing policy of Listed Companies
- Discussion on revising Capital Market Strategic Plan (2010 – 2014) to incorporate strategies for developing the Islamic Capital Market
- Discussion on developing a Sukuk Market
January
- Approval of the draft MoU framework on exchange of information and technical cooperation with regional securities regulators
- Budget provision endorsement of ICDS
- Approval of establishment of the ICDS
- Reviewing of the Strategic Plan (2010-2014) implementation progress report
- Discussion on the way forward for market development and priority areas for the year 2011
- Discussion on CMDA Scholarship 2011
- Discussion on performance evaluation and promotion of staff
- Discussion with the World Bank Mission on the way forward for supervision of the Pension Industry
