The Securities and Commodities Authority (SCA) has signed a joint agreement to offer a training program which will lead to awarding Compliance Officer – Advanced Level certificate. The program, which aims at developing the capacity of financial market personnel in the country, is being organized in collaboration with the International Compliance Association (ICA) and the International Compliance Training (ICT).
HE Abdullah Al-Turifi, SCA Chief Executive Officer, Bill Howarth, ICA Chief Executive Officer and Helen Langton, ICT Director General, signed the joint agreement in a short ceremony held at the Dubai premise of the SCA.
In a post signing comment, Al-Turifi said: “Under this agreement individuals concerned with and interested in, the financial markets will receive training and awareness in the area of compliance and securities and commodities related laws and regulations. The International Compliance Association and the International Centre were chosen due to their extensive experience in the development of their employees’ skills to comply with laws and regulations, and the Centre specifically for their training expertise in the area of commitment and vocational training in the financial services sector.”
"This agreement forms the foundation of an important stage of a long-term training program that will enhance and upgrade the position and reputation of the financial services sector in the UAE, and ensure that workers in this sector have a high degree of training and qualification, so that they can carry out their duties according to international professional standards," Al Turaifi added.
Also commenting on the occasion, Bill Howarth, Chief Executive Officer of the ICA, said: “At a time when regulation and compliance are high risk areas for financial sector organizations, the SCA has taken a strategic step in providing regulatory leadership in the region by introducing certificated professional qualifications in the field of compliance for the securities and commodities sector in the UAE. We have seen a continued pattern of global regulators encouraging the employment of certified professionals, particularly in the Middle East, and the SCA in particular is setting new standards of training and professional development in the UAE.”
Based on the agreement, the SCA will receive application for registration for the training program, which consists of workshops, subjects of study and examinations leading to the award of a certificate. The ICCT will prepare the subjects of study at the workshop which will be held at the SCA Training Center’s auditorium at the Dubai premise of the SCA. The eight-hours-a-day and five-days-a-week training program will be held in Arabic and English.
The center will engage lecturers based on strict selection criteria, while the ICA will be in charge of preparing, conducting, supervising and marking examinations for the award of a professional certificate, which will have on it the name of the Business College of Manchester University, being a contributor to the preparation of the program and its exams.