President Establishes New SOE National Exchange Limited

President Dr Mohamed Muizzu has officially created a new State-Owned Enterprise, National Exchange Limited, via Presidential Decree No. 16/2026. 

Exercising authority under Section 15 of the Companies Act (Act No. 7/2023), the President established the institution as a fully state-held entity.

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According to the President’s Office, the primary mission of National Exchange Limited is to build and manage a sovereign-backed secondary securities market. In doing so, it will serve the government’s fiscal needs while driving growth across the nation’s Islamic finance landscape.

The President’s Office outlined that, as part of its core responsibilities, the enterprise will lead capital market developments on behalf of the state, promote market transparency, and run modern trading platforms.

It is mandated to oversee the issuance, listing, and trading of government debt, Shari’ah-compliant Sukuk, and various financial products.

Additionally, the firm will handle essential post-trade operations, including clearing, settlement, and central securities depository services and partner with local and global financial institutions to build a stable, long-term financial ecosystem in the Maldives.