BML, CA Maldives Sign MoU to Strengthen Accounting and Financial Sectors

The Bank of Maldives (BML) and the Institute of Chartered Accountants of the Maldives (CA Maldives) have signed a Memorandum of Understanding (MoU) aimed at strengthening the accounting and financial sectors of the country.

The partnership will see both institutions collaborate to improve accounting and auditing standards, share sector information with the public, and contribute to the formulation of regulations. The agreement also focuses on building the capacity of professionals in the sector through training and development programs.

BML described the collaboration as a significant step in raising professional standards across the nation. “This agreement is an important step towards further strengthening professional standards in accounting and finance across the country. With the important work with CA Maldives, we aim to enhance capabilities, promote best practices in the sector and expand our existing role in developing the financial sector and economy,” the Bank said in a statement.

According to CA Maldives, the agreement will support the development of skills, knowledge, and ethical standards among accountants and finance professionals, bringing long-term benefits not only to the two institutions but also to the wider Maldivian economy.

The partnership builds on earlier initiatives between BML and CA Maldives. In 2024, BML supported CA Maldives in hosting the Maldives Accountants Forum (MAF), which provides training and education to accountants and finance professionals. The forum seeks to strengthen the accountancy profession while promoting growth and best practices in the sector.

BML has consistently engaged in projects and partnerships to support individuals, businesses, and communities across the Maldives. The latest agreement further consolidates the bank’s role in the development of the country’s financial sector and reflects a broader commitment to national economic progress.