The Chartered Institute for Securities & Investment (CISI) is a UK-based accredited professional body specialized in securities and investment, and the preparation qualification exams for staff members of financial institutions. CISI is a professional body, which develops the qualification exams to be passed in order to receive licenses from stock exchanges and financial institutions. CISI qualifications have been recognized by more than 20 countries worldwide.
In the State of Kuwait, the Capital Markets Authority and the Chartered Institute for Securities & Investment signed a Memorandum of Understanding in 2015, which paved the way for signing a final agreement in 2016. The Agreement is intended to coordinate the mutual cooperation and exchange of experience between both parties in order to qualify the practitioners in the capital markets industry and prepare local exams for applicable laws and regulations, which will supplement the international technical exams offered by CISI that are globally recognized.
What is the Professional Qualifications Program?
The Professional Qualifications Program for Registered Positions aims at enhancing the professional competence, technical capabilities and legal knowledge of the incumbents of Registered Positions at the Licensed Persons through professional education and qualifications examinations.
Capital Markets Authority adopted its plan to implement the Professional Qualifications Program for Registered Positions to qualify the manpower in the capital markets industry in line with regional and international best practices. The implementation of this program is to enforce the provisions of Article (3-3-3) of Chapter Three (Registered Persons) of Module Five of the Executive Regulations of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulation of Securities Activity, as amended.
What are the components of the Professional Qualifications Program?
The Professional Qualifications Program for Registered Positions comprises three different qualifications, all of which are specialized in financial sector. The qualification is received upon passing the qualification exams set for each qualification. Such qualifications vary from a general qualification for the financial sector, a local qualification for the laws and regulations of CMA, and a qualification varying based on the nature of each registered position. The qualifications vary in terms of the mandatory application thereof.
What are the programs for which Baker Tilly is accredited to offer in the State of Kuwait?
Baker Tilly has been recognized as CISI’s Accredited Training Partner to offer a number of training programs included in the CMA plan for implementing the Professional Qualifications Program for Registered Positions, as follows:
What is the added value to business entities from CISI Programs for CMA Registered Positions?
Ensure obtaining Professional Qualifications Programs from an internationally recognized institution; and
Ensure compliance with the regulatory requirements of Capital Markets Authority.