Capital Market Development Authority (CMDA) has appointed financial expert Mohamed Ahmed as its new chief executive officer.

Mohamed Ahmed was appointed CEO by President Dr Mohamed Muizzu under the Financial Securities Act. He has more than 40 years of experience in finance, banking, public administration and corporate governance.

He previously served as deputy minister of finance and financial controller during the administration of former President Mohamed Nasheed.

In the private sector, Mohamed Ahmed has worked at Bank of Maldives and Solarelle Insurance.

He holds a Master of Business Administration from Durham University Business School in England and a Bachelor of Business Administration from the American University of Beirut.

The position became vacant following the retirement of former CMDA CEO Mohamed Hussain Manik in April.