Maldives ranks amongst the top 100 countries in ICT development index. Banking on the high adoption rate of Internet, a number of local businesses increase their outreach by creating user-friendly IT based services. This report provides an overview of ‘Infinity by Maldives Securities Depository’ – a one stop solution for investors.
IT infrastructure is crucial for capital market service providers. However, both internal and external systems and processes are subject to regulatory approval. Maldives Securities Depository (MSD) is a regulated entity and their rules, procedures and business processes are closely monitored.
This makes it difficult for the exchange to act as ‘creative destruction’; tight regulatory oversight imposes a requirement to continuously seek approval to business processes, at times hindering the fast pace of development envisaged by the market players. The Primary objective of MSD is to serve as the central platform for custody, clearing and settlement of securities. At a time where modern and efficient services are demanded by the customers, business process of MSD is important to any company who raise finance from the public. Since 2014, MSD has continued to focus on streamlining processes to promote efficiency in all types of securities related transactions. According to CEO Mr. Hassan Manik, the concept of MSD as a central hub with complementing ancillary services was coined by his team in 2014. Their philosophy is to provide ‘total solutions’ that will increase the interaction rate with the Maldives Capital Market. In this venture, his team embarked on developing ‘Infinity’.
Full details are available from the link below:
Source URL: Corporate Maldives