Mohamed Hussain Manik has been appointed as Chief Executive Officer at the Capital Market Development Authority (CMDA).

The board members for CMDA were appointed by President Ibrahim Mohamed Solih with recommendations from the cabinet in accordance to provisions stated under the Maldives Securities Act.

At a time Mohamed Hussain was appointed as CEO for CMDA, Aishath Zahira, Former Deputy Governor at Maldives Monetary Authority (MMA) was appointed as Chairperson for the authority on Monday.

Prior to his appointment as CEO of CMDA, Mohamed Hussain Manik served as Chief Executive Officer at the Maldives Pension Administration for two terms.

In addition to this, he has held the post of Managing Director at State Trading Organization (STO), along with having served in other government positions in the past.

The Former CEO of CMDA Nadiya Hassan resigned from her post in 2019.

Currently, the members of the CMDA board are Chairperson Aishath Zahira, Chief Executive Officer Mohamed Hussain Manik, Senior Executive Director Aishath Nadhiya, Secretary General Ahmed Siraj and Registrar of Companies Mariyam Visam, along with Fathimath Shafneez and Rifa'ath Jaleel, who represent the private sector on the board.

CMDA was established under the Maldives Securities Act (2/2006) for developing and regulating the capital market in the Maldives.