Frequently Ask Questions

About MSD questions

What is the Maldives Securities Depository (MSD)?

MSD is the central securities depository for the Maldives. We hold securities in electronic (book-entry) form on behalf of investors, and we settle trades executed on the Maldives Stock Exchange. MSD also operates the country's registry, corporate-actions, and shareholder-engagement infrastructure for listed and unlisted companies.

Who regulates MSD?

MSD is licensed and regulated by the Capital Market Development Authority (CMDA) of the Maldives.

Where is the MSD office located?

Our head office is in Malé. You can find directions, opening hours, and contact details on the Contact page.

Appointments & Visits questions

Do I need an appointment to visit MSD?

Walk-ins are accepted, but we strongly recommend booking an appointment to avoid waiting. You can book a slot online through the Appointments page and choose the service you need.

What are the MSD office hours?

MSD is open during standard government business hours, Sunday to Thursday. Latest hours and any holiday closures are listed on the Contact page.

Corporate Actions questions

What is a corporate action?

A corporate action is an event initiated by a listed company that affects its shareholders — for example dividends, bonus issues, rights issues, AGMs/EGMs, or share splits. MSD processes these events on behalf of the issuer and credits entitlements to eligible shareholders' accounts.

How do I know if I am entitled to a dividend?

Entitlement is based on the record date set by the issuing company. If you appear on the company's register of members maintained by MSD on the record date, you are entitled to the declared dividend. You can check upcoming record dates on the Corporate Actions Calendar.

When and how are dividends paid?

Dividends are paid on the payment date announced by the issuer, directly to the bank account registered against your MSD securities account. Make sure your bank details are up to date to avoid delays.

How does an issuer initiate a corporate action through MSD?

Issuers submit corporate-action notifications (with board resolution, dates, and supporting documents) through their assigned MSD relationship contact. MSD validates the submission, schedules the event, sets the record date, and processes entitlements after the books-closure period.

FahiVote questions

What is FahiVote?

FahiVote is the Maldives' electronic shareholder voting platform operated by MSD. It allows shareholders of listed companies to vote on AGM/EGM resolutions remotely and securely without having to attend in person.

How do I register and vote on FahiVote?

Visit fahivote.mv during the open voting window for an AGM/EGM you are eligible to participate in. Authenticate using your registered details, review the resolutions, and cast your vote. You will receive a confirmation once your vote is recorded.

Can issuers run their AGM on FahiVote?

Yes. MSD supports listed companies in running AGMs and EGMs on FahiVote, including resolution setup, eligibility verification, live voting and reporting. Contact our corporate-actions team to schedule your meeting.

Fees & Charges questions

What fees does MSD charge?

MSD charges a schedule of fees for account opening, settlement, registry services and corporate-action processing. The current fee schedule is published on our website and is also available from your Trading Member.

Is there an annual maintenance fee on my securities account?

Standard individual investor accounts are not subject to a recurring annual maintenance fee. Service-specific charges (e.g. statement requests, transfers) may apply per the published fee schedule.

For Issuers questions

What registry services does MSD provide to issuers?

MSD acts as the share registrar for listed and eligible unlisted companies — maintaining the register of members, processing transfers, handling corporate actions, distributing dividends, and supporting AGMs/EGMs (including via FahiVote).

How can a company become a registry client of MSD?

Reach out via the Contact page to start the onboarding process. Our team will guide you through documentation, service-level agreements, and integration with the depository.

For Participants questions

How can I become a Trading Member or Participant?

Eligible institutions may apply for participation in the depository and trading membership of the exchange subject to CMDA licensing requirements. Contact MSD for the application pack and onboarding requirements.

Where can I find operational notices and rule updates?

Operational notices, rule changes and circulars are published on the News and Announcements sections of this site, and are also distributed to participants via the official communication channels.

Infinity Investor Portal questions

What is the Infinity investor portal?

Infinity is the MSD investor portal that lets you view your holdings, transaction history, dividend entitlements and corporate-action notifications online — anytime, anywhere.

How do I sign up for Infinity?

If you have an active securities account, request access through your Trading Member or directly via MSD. Once approved, you will receive sign-up instructions to activate your portal account.

I forgot my Infinity password. What do I do?

Use the "Forgot password" link on the Infinity sign-in page to reset your password using your registered email. If you no longer have access to that email, contact MSD support to verify your identity and update your records.

Securities Accounts questions

How do I open a securities account?

You can open a securities account through any licensed Trading Member (broker/participant). The Trading Member will collect your KYC documents, submit your application to MSD, and notify you of your account number once it is opened.

What documents do I need to open a securities account?

For individual accounts you typically need a valid Maldivian National ID (or passport for non-residents), a recent address proof, and the account opening form provided by your Trading Member. For corporate accounts additional documents such as the certificate of incorporation, board resolution and beneficial-owner declarations are required.

Can a minor hold a securities account?

Yes. Minors can hold accounts operated by a parent or legal guardian until they reach the age of majority, after which the account is transferred to the holder.

How can I view my holdings?

You can view your holdings, transaction history and corporate-action entitlements through the MSD Infinity investor portal, or by requesting a statement from your Trading Member.

How do I update my contact details, address or bank account?

Submit an account-update request through your Trading Member, with the supporting documents (e.g. bank confirmation letter for bank-account changes). MSD will process the change once the request is verified.

Trading & Settlement questions

How do I buy or sell shares?

Trades are executed on the Maldives Stock Exchange through licensed Trading Members. You place your buy or sell order with your Trading Member, who routes it to the exchange. Once executed, the trade is settled in your MSD securities account on the standard settlement cycle.

What is the settlement cycle?

The standard settlement cycle for equities is T+3 — securities and funds are exchanged three business days after the trade date. Your Trading Member will confirm the exact settlement date for each trade.

How do Trading Members settle obligations with MSD?

Trading Members settle their net obligations through their designated settlement bank account on the settlement date. MSD performs the corresponding book-entry transfers in the depository upon confirmation of funds settlement.