President Ibrahim Mohamed Solih has announced the establishment of the ‘Institute of Chartered Accountants of the Maldives’ (ICAM) as required under section 3 of Law no:20/2020, the Maldives Chartered Accountants Act. The announcement was made public through a directive issued from the President’s Office this afternoon.

As per the directive, ICAM- a legal body mandated with the regulation of the accounting profession in the Maldives, was established on 8th September 2020.

The directive also states that under the numbering system for state agencies, all official letters addressed to ICAM should use the number 484.