<h1>India Approves MoU Renewal to Boost Accounting Knowledge and Opportunities Between ICAI and Oman's CBFS.</h1> The Union Cabinet of India approved the renewal of the Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the College of Banking and Financial Studies (CBFS) in Oman. This MoU aims to enhance the accounting, financial, and audit knowledge base in Oman, benefiting ICAI's 6000 members in the Middle East. It will allow Omani nationals to join ICAI, fostering a mutually beneficial relationship. The collaboration is expected to generate goodwill for India and increase remittances, while creating more employment opportunities for Indian professionals in Oman, as Oman lacks a local professional accountancy institute.