About MSD

Maldives Securities Depository is the nation’s central securities depository, a wholly owned subsidiary of the Maldives Stock Exchange.

Established since.
2008

Overview

Our role in the Capital Market

MSD provides essential post-trade services to the capital market by maintaining securities ownership records, supporting securities settlement, administering corporate actions, and providing registry services to issuers.

MSD operates within the regulated capital market framework of the Maldives and supports the orderly functioning of the securities market by ensuring accurate ownership records, secure processing, and reliable service delivery.

Ms. Noorbaan Fahmy

“A capital market is built on trust, and trust is built on infrastructure that works quietly, predictably, and every single day. Our role at MSD is to be that quiet backbone, so investors and issuers can confidently take the next step.”

Ms. Noorbaan Fahmy

Managing Director / Chief Executive Officer · Maldives Securities Depository

Vision

A trusted, resilient depository for a modern Maldivian capital market.

To be a trusted and resilient central securities depository that supports the development of a modern, transparent, and accessible capital market in the Maldives.

Mission

Secure, efficient, and reliable post-trade infrastructure.

To provide secure, efficient, and reliable post-trade infrastructure services, enabling accurate ownership records, seamless settlement processes, and high-quality investor and issuer services.

Our mandate

What MSD operates to do.

Five operational pillars guide every service we deliver and every system we build.

Safeguard ownership records

Protect investor securities ownership through secure, resilient depository systems.

Clearing & settlement

Support the clearing and settlement of securities transactions across the market.

Corporate actions & entitlements

Facilitate corporate actions and administer investor entitlements accurately and on time.

Registry services

Provide registry services to issuers, maintaining the golden record of shareholder ownership.

Capital market infrastructure

Strengthen the foundational infrastructure that connects investors, issuers, and intermediaries.

Regulatory framework

Licensed and regulated by CMDA under applicable laws governing securities depositories.

Core Values

The principles that guide our work.

Integrity

We maintain accurate records and uphold the trust placed in us by investors, issuers, participants, and regulators.

Reliability

We deliver services through secure systems, controlled processes, and accountable operational standards.

Transparency

We support clear communication, accessible information, and fair treatment of all market stakeholders.

Innovation

We use technology to improve access, efficiency, and service delivery across the capital market.

Accountability

We operate within a regulated framework and maintain strong governance, compliance, and risk management practices.

Our journey

A legacy of institutional growth.

From an interim trading facility to a modern central depository, the milestones that built today’s Maldivian capital market.

  1. 2002

    Interim Securities Trading Facility

    Established on 14 April 2002 under the Maldives Securities Act, initially managed by CMDA.

  2. 2008

    MSE licensed by CMDA

    In January 2008, Maldives Stock Exchange was licensed to take over operations.

  3. 2008+

    Market mechanism formalised

    A robust trading and settlement platform was established with regulatory frameworks.

  4. Today

    Modernisation & digital frontier

    Through Infinity.mv and a next-gen CSD system, MSD is making the capital market more accessible.