The Maldives Monetary Authority (MMA) and the Asian Institute of Chartered Bankers (AICB) have strengthened their longstanding cooperation through a new strategic partnership aimed at developing highly skilled, professionally qualified and future-ready talent for the Maldivian financial sector.
The partnership was formalised through the signing of a Memorandum of Understanding (MoU) on 11 August 2026, reinforcing the two institutions’ shared commitment to advancing professional development, strengthening ethical standards and building the capabilities required for the rapidly evolving global banking and financial services industry.
The agreement was signed by Governor of the Maldives Monetary Authority Ahmed Munawar and Chief Executive of the Asian Institute of Chartered Bankers Edward Ling. The renewed collaboration builds on years of cooperation between MMA and AICB in developing banking professionals in the Maldives and expanding access to internationally recognised professional qualifications.
Under the strengthened partnership, greater emphasis will be placed on continuous professional development and equipping financial-sector professionals with the knowledge and competencies required to respond to technological transformation, evolving regulatory expectations and new developments in international banking. The initiative is also expected to contribute to strengthening institutional capacity across the Maldivian financial system by encouraging higher professional and ethical standards.
The programme surrounding the MoU signing included a half-day Continuing Professional Development session under AICB’s Empowering Bankers programme titled “The Use of AI and Its Impact on Banking.” The session was led by Dr Ashish Kakar, Director of Research for Financial Insights, Asia Pacific at IDC Singapore, and examined the growing role of artificial intelligence within the banking industry.
Participants explored emerging applications of AI as well as important considerations surrounding its implementation and governance. As financial institutions worldwide increasingly incorporate digital technologies and artificial intelligence into their operations, developing expertise in areas such as technology governance, responsible adoption and risk management is becoming increasingly important for banking professionals.
The partnership therefore places the Maldives in a stronger position to develop a workforce capable of adapting to the continued transformation of the international financial industry. Strengthening the knowledge and professional capabilities of local banking professionals can also support greater efficiency, responsible innovation and confidence across the financial system as the country advances its wider economic and digital development objectives.
The event also recognised AICB members in the Maldives who have achieved the Chartered Banker and Associate Chartered Banker professional designations. Their achievements reflect the growing emphasis being placed on internationally recognised professional qualifications and lifelong learning within the country’s financial industry.
During an AICB Chartered Members Sharing Session, Maldivian banking professionals shared their experiences and journeys towards becoming Chartered Bankers, providing insights into professional development and highlighting the importance of continuous learning throughout a banking career. The engagement provided an opportunity for professionals at different stages of their careers to learn from experienced members of the sector while encouraging more Maldivians to pursue advanced banking qualifications.
The latest cooperation also builds on earlier professional development programmes conducted by MMA and AICB. MMA has previously facilitated Chartered Banker qualification programmes for employees of the central bank and other financial institutions, expanding opportunities for Maldivian professionals to obtain internationally recognised banking credentials. In 2024, the third batch of the Chartered Banker qualification programme was launched in collaboration with AICB, with 51 participants from MMA and other financial institutions enrolling at the foundation level.
Such programmes form an important component of efforts to develop the human capital needed to support an increasingly sophisticated financial system. A stronger pool of professionally trained bankers can help financial institutions improve governance, strengthen risk management, maintain high ethical standards and adopt emerging financial technologies responsibly.
The strengthened MMA-AICB partnership also supports the Maldives’ continued focus on building domestic professional expertise while maintaining strong international connections. Access to specialised training and international professional networks provides Maldivian banking professionals with greater exposure to global practices and emerging developments, while enabling international expertise to be adapted to the specific requirements of the domestic financial sector.
For the Maldives, investing in financial-sector talent is particularly important as the economy becomes increasingly connected to international financial markets and digital payment infrastructure. A well-trained banking workforce can play a central role in supporting businesses, facilitating investment, strengthening financial inclusion and ensuring that the financial system continues to develop in a stable and sustainable manner.
The collaboration between MMA and AICB demonstrates the continued commitment of the country’s financial authorities to strengthening professional capacity alongside wider financial-sector development. By combining regulatory leadership in the Maldives with AICB’s professional banking education and international expertise, the partnership is expected to create further opportunities for Maldivian professionals to develop the skills required for the next generation of banking.
AICB has expressed its intention to further deepen its cooperation with MMA and continue supporting the development of a future-ready banking workforce in the Maldives. The strengthened partnership represents another positive step towards developing a highly qualified financial-sector talent pipeline capable of supporting the Maldives’ long-term economic development and strengthening confidence in the country’s financial system.
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