Bank of Maldives (BML) has formalized a strategic partnership with the Institute of Chartered Accountants of the Maldives (CA Maldives) through a Memorandum of Understanding (MoU) aimed at advancing the country’s accounting and auditing profession.
Under the agreement, both institutions will collaborate on capacity building, knowledge-sharing, and regulatory development to raise professional standards in accounting and finance. The initiative is designed to create long-term benefits not only for practitioners but also for the broader Maldivian economy.
Speaking at the signing, BML CEO and Managing Director Mohamed Shareef described the partnership as a milestone for the financial sector.
“This partnership marks a significant step in enhancing professional standards in accounting and finance across the country. By working closely with CA Maldives, we aim to build capacity, promote best practices, and contribute to the overall development of the financial sector and economy of the Maldives,” Shareef said.
Building Skills and Standards
The collaboration will focus on developing the skills and ethical frameworks necessary to support a modern financial sector. By aligning with CA Maldives, BML seeks to foster industry-wide improvements that strengthen trust, accountability, and compliance within the Maldivian business environment.
The agreement also reflects BML’s broader commitment to partnerships that deliver value to individuals, businesses, and communities nationwide. Over recent years, the bank has introduced initiatives supporting financial literacy, business development, and youth empowerment.
Continuing Engagement with CA Maldives
This is not the first time BML and CA Maldives have joined forces. Last year, the two institutions collaborated on the Maldives Accountants Forum (MAF), which served as a platform for professionals to exchange insights, share expertise, and engage with policymakers and regulators. The MoU builds on that foundation, paving the way for deeper and more sustained collaboration.
As the Maldivian economy continues to diversify, strengthening the accounting and auditing profession is seen as vital for attracting investment, improving governance, and ensuring sustainable growth. Through this partnership, BML and CA Maldives are positioning themselves as key drivers of that progress.
