Bank of Maldives (BML) and thed the Institute of Chartered Accountants of the Maldives (CA Maldives) have signed an agreement to develop the accounting field and build human capacity. Under this agreement, BML and CA Maldives will collaborate to share experiences in the field, raise awareness, establish robust principles of practice, and work towards further developing human resources in this area. Additionally, the agreement includes plans to strengthen the auditing sector.
BML stated that the purpose of signing an agreement with CA Maldives is to assist in developing skills for the country’s economic growth, exchange information, and shape ethical standards in the accounting and financial sectors. The national bank has highlighted this as a long-term beneficial endeavor. BML mentioned that they have been implementing agreements and projects designed to assist individuals, businesses, and communities throughout the country.
Regarding this agreement, Bank of Maldives CEO Mohamed Shareef said that this agreement is an important step towards further strengthening professional standards in the accounting and financial sectors across the nation. Shareef stated that through the collaborative efforts of both parties, they will enhance competency in the accounting and financial sectors, promote best practices, and expand their current role in developing the Maldivian financial sector and economy.
Last year, Bank of Maldives provided support to CA Maldives in organizing the Maldives Accountants Forum. The objective of that forum was to provide necessary education and training to the institute’s members and those working in the accounting field in the Maldives, and to pave the way for further strengthening and advancing the accounting the accounting profession in the country.
