Bond Market

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Bond Market

Government and Corporate Bond Markets are important components of a Capital Market in a jurisdiction. They should function in conjuction with the equity Markets. In this regard there is a need for an efficient market infrastructure for Government bond markets as Government bond market serve as a bench mark for corporate bond markets. CMDA is working towards building the market infrastructure for developing corporate bond markets.

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 bonds:

  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.
Please refer to Debt Securities Listing Guidelines & Fees for Debt Listing
Debt Securities Listing Guidelines (Download)
Fees & Fines (Download)
 
 

For more information on issuance and listing of bonds call +960 333 6623

 

History

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.
 
 

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

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