Maldives sets up National Exchange Limited to run a government-backed securities exchange

1 October 2026

President Dr Mohamed Muizzu has brought into being a wholly state-owned company called National Exchange Limited. It was set up by Presidential Decree No. 16/2026 under Section 15 of the Companies Act, which is Act No. 7/2023 of the Maldives. The company's task is to build and run a government-backed secondary securities market, help meet the State's financing needs and widen the country's Islamic finance sector. Its stated objectives are to take the Maldivian capital market forward on behalf of the government, strengthen integrity and transparency in it, and set up and operate modern securities exchanges and trading facilities. It is also to handle the issue, listing and trading of government securities, of Shariah-compliant Sukuk and of other instruments. Post-trade work is part of the mandate as well, including a central securities depository and clearing and settlement services.