Financial Sector of Maldives

The Maldives Monetary Authority and the Capital Market Development Authority are the regulators of the financial sector of the country.

The financial sector of the Maldives comprises of commercial banks and non-bank financial institutions. The non-bank financial institutions include insurance companies, a finance leasing company, a housing finance company, money remittance companies and payment service providers, the pension fund and companies operating in the capital market.

The Maldives Monetary Authority and the Capital Market Development Authority are the regulators of the financial sector of the country. The CMDA is responsible for regulating and developing the securities market and the pension fund, while all the other financial institutions and service providers are licensed, supervised and regulated by the MMA.