A platform for operating the private securities segment under the Securities Act, the 'Viyana' platform, has been launched.
The platform was launched by Economic Minister Fayyaz Ismail, alongside Maldives Stock Exchange (MSE) CEO Aushan Latheef and DCEO of CMDA, Fathimath Kamaaluddin.
The platform, which was set up by MSE, will allow private companies registered in the country to offer to buy securities. The platform will provide the opportunity for all companies to operate in the capital market and open up some new investment opportunities.
All companies registered in the Maldives can now sell shares through the Viyana platform. The main requirement is that the company must be a one-year-old business and the submission of an audit for a 12-month period.
The CMDA is the regulatory body that oversees share issuers and prices.