At BETA Financial Learning & Development Ltd, an Accredited Training Partner of the CISI, we are thrilled at the memorandum of understanding signed this week with the Kuwait Capital Markets Authority. We look forward to working with more client firms in future. The intention is to establish a Kuwaiti local regulations exam to complement the existing international technical qualifications offered by the CISI, thereby making the qualifications more relevant to financial professionals working in Kuwait.
A new qualifications framework will be put into place which makes it compulsory for certain entities licensed with the CMA to provide CISI qualifications to its employees. Both entities will also work to develop accredited training partners in Kuwait, so that financial professionals can avail of high quality training to attain their qualifications. The main objective of a local exam is to ensure candidates have a basic knowledge of the regulations and legislation underpinning the financial markets and the conduct of investment business in Kuwait. This raises the standards of the service provided by financial services providers to their clients in terms of their skill set, knowledge as well as ethics.
Kuwait Capital Markets Authority’s (CMA) aim is to position Kuwait as a regional capital markets hub and in order to achieve this objective it is imperative to create a highly skilled talent pool. The MOU will pave the way for the introduction of CISI certified programmes that will ensure that practitioners working in Kuwait’s capital markets industry have the required skills, function with the highest ethical standards and apply best practices and techniques.
Established in 2007, CISI’s Middle East operation, headquartered in Dubai, has made a significant contribution to the professionalism of the financial services industry across the region. In its latest financial year, almost 4,000 exams were taken in the Middle East. These exams cover a range of subjects from Islamic Finance and Wealth Management to Compliance and Risk, with exams available in both English and Arabic.