The Capital Market Development Authority (CMDA) has appointed Mohamed Ahmed as its new Chief Executive Officer (CEO), succeeding Mohamed Hussain Manik, who retired on April 30.

CMDA announced the appointment, describing Mohamed Ahmed as a finance and public sector professional with more than four decades of experience in banking, public finance, economic development, corporate governance and institutional leadership.

He has previously held senior positions in both the public and private sectors, including at the Ministry of Finance and Planning, the Bank of Maldives and Solarelle Insurance.

Mohamed Ahmed holds a Master of Business Administration from Durham University Business School in the United Kingdom and a Bachelor of Business Administration from the American University of Beirut.

Established under the Maldives Securities Act, CMDA is the independent regulator responsible for overseeing and developing the country's capital market. The authority said Mohamed Ahmed will lead its efforts to further strengthen and advance the Maldivian capital market.