Shareholders are encouraged to convert eligible paper certificates into electronic holdings, check their investments through Infinity and register using eFaas.

For many Maldivian families, a paper share certificate is more than a document—it represents an investment made years ago, often kept safely by a parent or grandparent who has held shares for decades.

Maldives Securities Depository (MSD) is encouraging shareholders to convert eligible paper certificates into electronic holdings and take advantage of secure online access. Shareholders can use MSD’s online portal, infinity.mv, to view their investments.

MSD Registrar records indicate that approximately 37,770 individual shareholders still hold physical share certificates. The figure underscores the need to help certificate holders move to electronic holdings and activate online access.

MSD serves as share registrar for listed companies including Bank of Maldives Plc (BML), Maldives Transport and Contracting Company Plc (MTCC), Maldives Tourism Development Corporation Plc (MTDC), Ooredoo Maldives Plc (OMPL), Maldives Islamic Bank Plc (MIB), Amana Takaful (Maldives) Plc and Dhivehi Raajjeyge Gulhun Plc (DHR).

MSD plans to work with listed companies to support this transition and broaden online access. Setting out MSD’s longer-term direction, Noorbaan Fahmy, CEO of MSD, said:

“Our strategic direction is the full dematerialisation of listed securities. Strengthening MSD’s central securities depository capabilities is central to modernising the Maldivian capital market. It will give investors better digital access to their investments while keeping their holdings secure.”

What happens when your shares go electronic?

Converting a paper share certificate into an electronic holding is called dematerialisation. Once the required checks are complete, the shares are recorded in a depository account, removing the need to rely solely on a paper certificate.

It works in a similar way to a bank account record: you can access an official record without needing a separate paper document for every transaction. With electronic shareholdings, the depository maintains the ownership record. Shares remain investments in companies, however, and their value can rise or fall.

Your ownership is already recorded in the company’s shareholder register. Dematerialisation moves the shares shown on your paper certificate into the electronic depository system; it does not change the number of shares you own.

Held your certificates for years? MSD can help

Anyone who has kept share certificates for many years—including older shareholders—is encouraged to contact MSD for assistance.

Paper certificates can be lost, damaged or difficult for family members to locate. Moving to electronic holdings reduces reliance on these documents and provides an opportunity to confirm that ownership records, identification details and contact information are up to date.

Accurate, accessible records can also make it easier for families to deal with shareholdings in the future. Inheritance and transfers will still require the relevant legal documents and procedures.

Shareholders who need help can book an appointment with MSD. A trusted family member may assist with enquiries and document preparation, but the shareholder should remain in control of the account and keep passwords and verification codes private.

Sign in and see what you own

Whether you hold paper certificates or already have electronic holdings, visit infinity.mv to register or sign in.

Registration is simpler through eFaas identity verification, which allows shareholders to verify their identity and set up online access more conveniently. Through Infinity, shareholders can view their holdings and access statements.

If you are unsure what shares you hold, cannot see an expected holding or need help understanding your records, contact MSD through msd.mv/contact. MSD can check the relevant records and explain the next steps.

Registering online does not automatically convert paper certificates into electronic holdings. MSD will guide certificate holders through the separate dematerialisation process and explain the documents, checks and any applicable fees.

Shareholders who want to buy or sell listed shares through the Maldives Stock Exchange can also contact MSD. MSD can explain the required depository arrangements and how to connect with a broker. A sale can proceed only when a buyer is available.

Take the first step today

Visit infinity.mv to view your shares. If you hold paper certificates, contact MSD to check whether they are eligible for conversion and to learn about the required documents, fees and steps.

Book an appointment through msd.mv/appointments or call MSD on +960 3307878.

An investment made years ago still deserves attention today. By checking your shares and keeping your ownership records up to date, you can manage your investment with greater confidence and make matters easier for your family in the future.