Allied Insurance Company of the Maldives and CA Maldives have entered into a new partnership aimed at strengthening the accounting profession while expanding insurance and professional development opportunities for chartered accountants across the country.
The two organisations formalised the collaboration by signing a Memorandum of Understanding (MoU), setting the foundation for joint initiatives focused on professional growth, knowledge exchange and the continued development of the financial sector.
According to the agreement, Allied Insurance and CA Maldives will work together to promote ethical accounting practices, encourage financial transparency and support research and capacity-building programmes tailored to the Maldivian market.
As part of the partnership, Allied Insurance will also encourage eligible employees to become members of CA Maldives, the country’s professional body representing chartered accountants. Both organisations said they will collaborate on initiatives designed to enhance technical expertise and strengthen industry standards.
The agreement also introduces a range of exclusive benefits for CA Maldives members.
Under the new arrangement, members will receive preferential contribution rates and simplified documentation requirements when applying for Professional Indemnity Takaful coverage, which is required for licensing purposes.
In addition, CA Maldives members and permanent staff will be eligible for Group Health Takaful and Group Term Life Takaful coverage on preferential terms, subject to the conditions of the respective policies.
The organisations said the partnership reflects a shared commitment to supporting the professional development of accountants while contributing to a stronger and more resilient financial services sector.
CA Maldives plays a key role in developing and regulating the accounting profession in the Maldives by promoting internationally recognised professional standards, continuous learning and ethical practices. Meanwhile, Allied Insurance remains one of the country’s leading insurance providers, offering a broad range of conventional insurance and Takaful products to individuals and businesses.
Both organisations expressed confidence that the collaboration will create long-term value for accounting professionals while supporting the continued development of the Maldives’ financial industry.
