Over 200 scholarships awarded to train chartered accountants

A total of 202 scholarships have been awarded to train Chartered Professional Accountants in the Maldives.

Application for the government-sponsored scholarships opened on February 2 in two categories. The open category offered 152 spots, while the public sector category provided 50 opportunities for aspiring accountants.

The Higher Education Ministry awarded scholarships from the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA).

Under the scholarship program, the government covers various expenses incurred by the recipients, including the membership fee if completed within two years, registration and re-registration fees, examination fees, annual subscription fees, application fees, book allowances, exam fees, and tuition fees for those undertaking courses at registered colleges or universities within the Maldives. However, tuition fees for individuals studying at other institutions are excluded from the coverage.

The Higher Education Ministry said the scholarship recipients must complete their studies within two years. They are required to serve two years in the Maldives after the completion of their studies.

The Higher Education Ministry last year also offered similar scholarship opportunities to train chartered professional accountants. Last year, 173 scholarships were awarded.