Dubai, UAE, 18 December 2019 – The International Compliance Association (ICA), the leading professional body for the global regulatory and financial crime community, has announced today it has partnered with the UAE Insurance Authority to provide financial crime compliance training to over 14,000 insurance practitioners working in the United Arab Emirates.
The bespoke suite of training programmes developed by ICA has been specifically tailored to the UAE market in line with local needs and regulations and is aimed at developing the skills and expertise of teams in the area of anti money laundering, combating terrorist financing and financial crime compliance.
As one of the world’s leading financial and business hubs, the UAE is exposed to constantly evolving financial crime threats, making the training and upskilling of industry practitioners key to ensuring they are sufficiently equipped to manage and mitigate new and emerging risks.
The programs encompass online courses in financial crime compliance which will be undertaken by around 14,000 employees and professionals in their related fields, as well as a specialised training program catered towards 300 industry experts, including money laundering reporting officers, compliance officers, internal controllers at brokerages firms and employees at the Insurance Authority.
The training is aimed at raising the bar in the insurance sector in the UAE and setting the highest standards of conduct at firms and organisations through the provision of world-class training and education and sharing of best practice in the area of compliance.
At the end of the course, participants will receive the globally recognised ICA International Diploma in Financial Crime Prevention awarded in association with Alliance Manchester Business School, the University of Manchester. The courses have commenced in June 2019.
Helen Langton, CEO of ICA stated: “We’re delighted to be working with the Insurance Authority of the UAE, developing the knowledge and skills of the insurance community in line with the vision of the regulator. This initiative continues the work that ICA has undertaken with other regulators from around the region, where we have worked with the Securities and Commodities Authority of the UAE, the Capital Markets Authority for Saudi Arabia and the Dubai International Financial Centre.
The extent of the activities on which ICA and the Insurance Authority are working are significant as we work together to build education pathways and on-going learning, constantly evolving the skill set of local Emirati practitioners to meet the threat of financial crime.”
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