CMDA management temporarily handed over to Deputy CEO

The Capital Market Development Authority (CMDA)’s management has been handed over to its Deputy Chief Executive Officer Fathmath Abdulla Kamaluddin.

The move follows the retirement of Chief Executive Officer Mohamed Hussain Manik, who held the position until 30 April. Fathmath Abdulla Kamaluddin, who had served as Deputy CEO since July 2021, will now oversee the authority’s operations.

A statement issued by CMDA said the arrangement is temporary, until a new CEO is formally appointed under the Maldives Securities Act.

The new CEO will be appointed by the President, based on the recommendation of the CMDA Board, in accordance with the relevant law.