The central bank MMA has issued a license for CMD Finance Leasing Company Private Limited (CMD) to commence leasing business in the Maldives.
The license document was handed over to CMD company by the governor of MMA Ali Hashim.
Once, CMD leasing company commences its business, it will enable the expansion, development, and growth of the finance sector along with increasing competition in the sector said MMA.
JMT Private Limited holds 99% of the share of the CMD leasing company and a Japanese company holds an 80% share of the JMT company.
There are some other companies that operate leasing business in the Maldives. However, the most prominent company in this field is the Maldives Finance Leasing Company.