CMDA Appoints Deputy CEO Fathmath Abdulla Kamaluddin as Temporary Head

The Capital Market Development Authority (CMDA) has transitioned its management to Deputy Chief Executive Officer Fathmath Abdulla Kamaluddin following the retirement of the previous head. Ms. Kamaluddin assumes leadership of the authority's operations after Chief Executive Officer Mohamed Hussain Manik concluded his tenure on April 30. Having served as Deputy CEO since July 2021, she brings several years of high-level administrative experience to the role during this transitional period. In an official statement, the CMDA clarified that this management arrangement is temporary. The authority will remain under Ms. Kamaluddin's oversight until a permanent Chief Executive Officer is formally appointed. The appointment process for the new CEO is governed by the Maldives Securities Act. According to the legal framework, the President of the Maldives will appoint the new head based on a formal recommendation submitted by the CMDA Board. As the primary regulator of the Maldives' capital markets, the CMDA continues its mandate to ensure market stability and investor protection while the board seeks a permanent successor to lead the institution.