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 corporate 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 success of the first sale of Treasury Bonds by the Government on 4 December 2009, is a milestone achieved to facilitate the country’s bond market development initiatives. The issue was launched by the Minister of State for Finance and Treasury.
The bond issued with a total value of 100m US Dollar was taken State Bank of India.
Furthermore the Government of Maldives has also issued treasury bills.
The Authority has requested the Government of Maldives to facilitate the trading and issuance of T bills and T Bonds through the mechanism of the Maldives Stock Exchange.
Procedure for issuance of corporate bond:
- Public offering of bonds should be as per the requirements setout in the Prospectus Guidelines.
- A prospectus approved by the Registrar of Companies need to be made public.
- 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 Bond Market Development
CMDA held a seminar on 6th May 2008, on Bond Market Development.
The presenter 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
