Leadership

Management Team

The team responsible for executing MSD's strategy and overseeing day-to-day operations - guiding the organization's growth while maintaining the highest standards of security, compliance, and service delivery.

Uza. Noorbaan Fahmy

Uza. Noorbaan Fahmy

Managing Director and Chief Executive Officer, MSD

Chief Strategy Officer, MSE

About

Uza. Noorbaan Fahmy is the Chief Executive Officer of the Maldives Securities Depository (MSD) and Chief Strategy Officer of the Maldives Stock Exchange (MSE). She has been central in driving technological innovation across the Exchange and Depository, including leading the strategic and business direction behind the successful in-house development of MSE's automated trading system. She has also played a key role in harmonizing securities market regulations and modernizing listing rules and other market-related regulations.

Beyond her executive role, Uza. Noorbaan has held several notable positions in the legal and corporate governance spheres, including Council Member of the Commonwealth Lawyers Association (2022-2023), Independent Director on the Board of Dhivehi Insurance Company Pvt. Ltd (2022.2023), Executive Committee Member of the Bar Council of Maldives (2020-2022), and Private Sector Director on the Board of the Maldives Pension Administration Office (2018.2021). Earlier in her career, she served as Legal Counsel at the Capital Market Development Authority of Maldives (CMDA) from 2014 to 2017.

Uza. Noorbaan holds an MSc in Public Policy and Management from SOAS, University of London (2017), and an LLB from the University of Bristol, UK (2011).

Shared functions

Supporting Functions

These functions are shared between MSE and MSD to ensure efficient, smooth operations across both organizations.

Business Development

The Business Development function is a shared function between Maldives Stock Exchange (MSE) and Maldives Securities Depository (MSD). For MSD, this function supports the growth and development of MSD services, stakeholder engagement, market awareness, and service improvement initiatives.

  • Investor and issuer engagement
  • Market education and awareness support
  • Development of new service initiatives
  • Stakeholder outreach and coordination
  • Support for MSD account opening and digital service adoption
  • Service improvement and client relationship management
  • Support for wider market development initiatives

Legal and Compliance

MSD retains legal and compliance support from SHC Law & Tax LLP to ensure that its operations, governance frameworks, policies, and regulatory engagements are aligned with applicable laws and regulatory standards.

  • Regulatory compliance
  • Corporate governance
  • Board and secretariat support
  • Rule and policy review
  • Legal advisory
  • Regulatory correspondence
  • Contract and documentation review

Finance and Administration

This function supports financial management, budgeting, procurement, administration, human resources coordination, and internal reporting for MSD.

  • Financial records and reporting
  • Budget monitoring
  • Procurement support
  • Administrative coordination
  • HR and staff support
  • Internal documentation

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Explore Board committees.

Learn about the committees that support effective oversight of MSD governance, risk, and strategy.

Board Committees Board & Leadership