Bank of Maldives (BML) has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of Maldives (CA Maldives) to strengthen the country’s accounting and finance sector.

The agreement, signed on 17 August, focuses on building professional capacity, promoting ethical standards, and enhancing knowledge-sharing in accounting and auditing. BML said the collaboration would deliver long-term benefits to national institutions and the Maldivian economy.

The two organisations will collaborate on capacity-building projects, public awareness campaigns, and policy development with the goal of improving professional standards as part of the partnership. According to the bank, this would contribute to developing a stronger and more sustainable financial sector.

BML’s Chief Executive Officer and Managing Director, Mohamed Shareef, described the agreement as an important step in supporting professional development. He added that the collaboration would promote best practices and reinforce the bank’s role in strengthening the country’s financial system and economy.