President Dr Mohamed Muizzu has established a state-owned company, National Exchange Limited, to develop and operate a government-backed secondary securities market.
The company was established under Presidential Decree No. 16/2026, issued under powers granted to the president by Section 15 of the Companies Act (Act No. 7/2023).
According to the announcement, National Exchange Limited will be wholly owned by the Maldivian state and will support the government's financing requirements while contributing to the development of the country's Islamic finance sector.
The company will be tasked with advancing the Maldives' capital market, strengthening market transparency and integrity, and establishing and operating securities exchanges and other trading facilities.
Its responsibilities will include facilitating the issuance, listing and trading of government securities, Sharia-compliant sukuk and other financial instruments.
National Exchange Limited will also provide post-trade infrastructure, including a central securities depository as well as clearing and settlement services.
The government says the company will work with domestic and international financial institutions to support the development of a resilient and sustainable financial market in the Maldives.
The establishment of the exchange comes as the government seeks to expand the country's capital-market infrastructure and increase the role of Islamic financial instruments in the Maldivian economy.