The Egyptian Financial Services Institute (FSI) and the Chartered Institute for Securities & Investment (CISI) have signed an MoU to promote a qualifications framework to the Egyptian capital market.
The FSI is the training arm of the Egyptian Financial Supervisory Authority (EFSA) which is the regulator for the Egyptian capital markets.
The CISI and FSI have agreed to collaborate to promote a qualifications framework to the Egyptian market. EFSA is seeking to adopt a formal certification process for certain roles/functions within the capital market. In addition to the various pathways there is also the vision to establish an Egyptian local regulation exam to complement the existing international technical units offered by the CISI.
Kevin Moore, Chartered MCSI and Global Business Development Director said: “We are extremely pleased to support the EFSA in promoting professionalism and professional standards in the Egyptian capital markets. This partnership will help enhance skills, competence and workforce employability and contribute to greater market efficiency and integrity.”
Commenting on the forthcoming cooperation, EFSA Chairman Sherif Samy stated that skill development of market players and introducing mandatory competence levels are an integral part of EFSA’s strategy. He added that CISI with its track record and credentials could be a significant contributor in that direction.
Dr Shahinaz Rashad, Executive Director FSI said: “The cooperation with the CISI is a significant step to fulfill FSI's role in "Building skills for Best Practices". I am very optimistic about how such a partnership would help adopting the best practices and raising the professional standards of most professions in the Egyptian Capital Market"
The Chartered Institute for Securities & Investment is the 40,000 strong global membership body for those working in the securities and investment industry with representative offices in financial centres including Dublin, Singapore, Hong Kong, Dubai, Mumbai and Colombo. It works in close cooperation with regulators, firms and other professional bodies worldwide. Read this press release in Arabic