T-bills, bonds to go on sale on secondary market

Photo/Mihaaru

Maldives Monetary Authority (MMA) Governor Ahmed Naseer says the agency was preparing to start of sale of treasury bills and treasury bonds in the secondary market.

Once listed on the secondary market, these bonds will be available for general purchase.

Speaking in the ceremony held to mark 10 years to the Maldives Stock Exchange and Maldives Securities Depository, Governor Naseer said that this was an initiative by MMA to further boost different securities products in the market.

Under this initiative a central depository and a training system will be created, which will facilitate the sale of corporate bonds, sukook and securities from companies.

Naseer added the internal market had substantially developed in the past years. He added this had created access to additional funds. As such, he noted the Pension Office’s MVR 10 billion fund and the Sovereign Development fund of the Government managed by the MMA showed there was room for further expansion.

While MMA will first conduct the operations, it will be handed over to Maldives Stock Exchange later on, the Governor added.


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