The Maldives The Maldives Securities Depository established in 14th April 2004 was operated by the Capital Market Development Authority (CMDA). However to separate the Depository operations from the regulatory activities, Maldives Securities Depository (MSD) was licensed as a private sector institution on 23rd January 2008 under the Maldives Securities Act by the Capital Market Development Authority (CMDA). MSD has been established to provide investors an efficient central clearing of securities in Maldives.
