Ministry of Higher Education has stated the highest government expenditure in terms of national development is towards developing young talent for various sectors.
Speaking to PSM News, Deputy Minister of Higher Education Ismail Zabeeh said the government plans to develop local talent by providing more education and training opportunities. The deputy minister said the accounting profession is held in high regard in the Maldives but students previously lacked the opportunity to excel in the field. He said the government has solved this issue by announcing scholarship opportunities to train 150 chartered professional accountants in the Maldives. He added the government aims to complete the training for 150 accountants within the next two years.
Also speaking to PSM News, Council Member of the Institute of Chartered Accountants of the Maldives (CA Maldives) Mohamed Haleem noted the scholarships to train accountants is a beneficial opportunity, as it will allow Maldivians to replace the 4,500 foreign accountants currently working in the Maldives. He said professional accountants play a crucial role in economic recovery and that the government's scholarship opportunities will benefit the state and the private sector. He also said national development depends on the level of education of the citizens.
The scholarship opportunities to train 150 chartered professional accountants aim to train accountants in two categories, which are the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA).
The higher education ministry stated the scholarships are fully funded by the ministry and the first 50 scholarship opportunities are for the public sector and the other 100 opportunities are for the private sector. The ministry also noted the assistance received from CA Maldives and stated the scholarship opportunities will solve the shortage of professional accountants in the country.