In a significant development for the Maldivian capital market, First National Finance Corporation has been awarded the Principal Adviser License by the Capital Market Development Authority (CMDA) today. This marks the first issuance of such a license since the CMDA reinstated the Principal Adviser License, which had been discontinued for some time.

The issuance follows the introduction of the new Regulation on Principal Advisers that was published on August 11, 2024. This regulation aims to ensure that Principal Advisers are qualified to prepare and file prospectus with the market regulator. This is expected to improve the quality of information available to the investors thus increasing their confidence in making investment decisions.

CMDA, as the regulatory body overseeing capital markets in the Maldives, continues to enhance the regulatory framework to promote transparency and integrity within the market. This move is expected to bolster investor confidence and contribute to the overall development of the capital markets in the Maldives.

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