India’s federal cabinet approved the signing of memorandum of understanding (MoU) between Institute of Chartered Accountants of India (ICAI) and the Chartered Accountants of the Maldives (CA Maldives).

ICAI and CA Maldives aim to establish mutual co-operation for the advancement of accounting knowledge, professional and intellectual development, and advancing the interests of their respective members, according to a government statement.

The government said the agreement, besides aiding CA Maldives, will provide an additional impetus to prospects of the ICAI members to get professional opportunities in Maldives in short to long term future.

ICAI would be able to help strengthen the partnership with Maldives by providing the export of services in accountancy profession, it added.

The MoU will provide an opportunity to ICAI members to expand their professional horizon and provide impetus to ICAI to aid in the strengthening the capacity building of local nationals.

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