Capital Market Development Authority (CMDA)
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BusinessMTCC reports higher profit despite decline in revenue
MTCC reported a net profit of MVR 85 million last year, a MVR 40 million increase despite a slight revenue dip to MVR 2.13 billion. Construction and land reclamation drove 80% of earnings, supported by MVR 653.1 million in government subsidies. Shareholders will receive a dividend of MVR 3 per share following the delayed financial report.
NewsMohamed Ahmed appointed CMDA CEO
Mohamed Ahmed has been appointed as the new CEO of the Capital Market Development Authority, succeeding Mohamed Hussain Manik. With over 40 years of experience in finance and government, Ahmed brings extensive expertise to the regulatory body. He previously held senior roles at the Finance Ministry and the Bank of Maldives.
