The Financial Academy has signed an agreement with The Chartered Institute for Securities & Investment (CISI) to develop and host their professional examinations. This comes as one of the Capital Market Authority’s initiatives, to develop qualification examinations for registered persons, is included in the (Financial Leadership 2020) program.
The agreement has been signed by the Director General of the Financial Academy (FA), Mr. Mana Al-Khamsan, and Mr. Simon Culhane, Chartered FCSI, Chief Executive of CISI at FA in Riyadh.
Mr. Mana Al-Khamsan, the Director General explained that, after an extensive search for the best international institutions in the field of developing manpower, CISI was selected to be the FA’s strategic partner to develop and raise skills in the capital markets sector, because of their long experience, widespread recognition throughout the Gulf and expertise in the Capital Markets.
Mr. Al-Khamsan stated that this agreement is part of the role assigned to the Financial Academy in accompanying the best international practices and providing protection for Capital Market activities, which achieves the vision of CMA to improve the efficiency for the capital market sector and to create an attractive investment environment trusted by local and international investors.
Mr. Al-Khamsan added that this agreement will also see FA become the exclusive exam venue provider throughout Saudi Arabia for all CISI’s professional examinations. Additionally, the FA, in accordance with its role in providing pre-operational courses for these professional examinations through contracting with the best regional and international institutions, will also prepare examinees for many of these examinations.
Mr Simon Culhane, Chartered FCSI, said that this agreement will ensure that, over time, everyone working in the Saudi Arabia capital markets will be qualified to international standards. This will help raise the professionalism of all participants and therefore provide consumers and investors with greater confidence and protection, which in turn will lead to development and growth of the sector.
The CISI is a charity and the largest and most widely respected professional body for the securities and investment profession. The CISI operates globally with its headquarters in London having been formed in 1992 by London Stock Exchange practitioner.
CISI’s examinations are recognized by over 50 jurisdictions, with over 40,000 CISI exams taken in over 80 countries, 15,000 of which were outside the UK. As at September 2019, it has a global community of circa 45,000 members in 111 countries.