Organizational Structure

Organizational Structure 4


Legal & Regulation Department

Legal & Regulation Department (LRD) is responsible for CMDA’s licensing & market regulation functions. The department undertakes monitoring and supervision of regulated entities to ensure compliance to the laws and regulations of the market. This includes monitoring activities of the Islamic capital market. In addition to this, LRD supports CMDA’s rule making & enforcement processes.


Market Development Department

Market Development Department (MDD) is responsible for CMDA’s market development initiatives. The department carries forward CMDA’s going public initiative which involves identifying potential companies for issuance of securities, approaching them with capital market proposals and assisting with going for a public offering in the market. In addition to this, MDD handles Islamic capital market development initiatives of CMDA.


Pension Supervision Department

Pension Supervision Department (PSD) is responsible for CMDA’s pension supervision functions. The department undertakes supervision of the Maldives Pension Administration Office (MPAO) in administering the Maldives Retirement Pension Scheme (MRPS) under the pension law and regulations. In addition to this, PSD undertakes supervision of the custodian for MRPS under the custodian license issued by CMDA.


Education & Training Department 

Education & Training Department (ETD) is responsible for CMDA’s market awareness & training initiatives. The department has the mandate to operate the training institutes of CMDA.

CMDA Institute
CMDA Institute conducts market awareness programs for stakeholders. Additionally, the institute conducts training programs and examinations to facilitate licensing of individuals engaging in the provision of securities market services.

Institute for Corporate Directors’ & Secretaries (ICDS)
Corporate Directors’ & Secretaries (ICDS) conducts corporate governance trainings for directors & secretaries of listed companies, state owned enterprises and interested private companies.


CEO Bureau

CEO bureau is responsible for providing secretarial services to the CMDA board of directors, the Capital Market Shariáh Advisory Committee (CMSAC) and to the Senior Executive Committee (SEC) of CMDA. In addition to this, the department is responsible for managing international relations, media relations and handles any information requests made to CMDA.


Corporate Services

Corporate Services is responsible for finance, HR, admin and IT management of CMDA.