Commonwealth legal expert says Maldives in need of securities legislation

Mr. Makbul Ibrahim, a legal expert of the Commonwealth Secretariat has said that Maldives currently in need of a securities legislation to develop the capital market of the country.

He made the statement in an interview with Television Maldives. He said that with the passing of the currently formulated securities bill, the capital market of Maldives would develop in many aspects such as providing legal recognition for institutions and individuals like dealers and brokers.

He also noted the listing of a 4th company in the Maldives Stock Exchange as an important step towards development.