London/Abu Dhabi: 6 February 2013
The International Compliance Association is formally launching a significant partnership agreement with UAEs Securities and Commodities Authority (SCA). The agreement is to deliver a certificated programme in compliance, developed specifically for professionals at SCA-regulated financial institutions in the UAE.
The programme will encompass international best-practice in all aspects of regulatory compliance, clearly aligned with SCA core principles and regulations, and will be delivered within the overall ICA training and certification framework in association with University of Manchester Business School.
The ICA is a well-known and respected professional awarding body and was instrumental in the creation of international Standards of Competence in Anti-Money Laundering, Compliance and Financial Crime Prevention. These Standards are used by firms and regulators globally as part of the management of the risk function.
His Excellency Abdullah Al Turifi, Chief Executive Officer of the SCA commented “The ICA has a long standing reputation in providing an unrivalled level of training in the sector of compliance. Together, we can work to deliver these qualifications in the UAE which will improve and enhance the financial sector, as part of our overall long term training initiatives. We are dedicated to providing the opportunity for all those working in the compliance industry to produce the highest quality competency standards.”
Bill Howarth, Chief Executive Officer of the ICA, added “At a time when regulation and compliance are high risk areas for financial sector organisations, 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.
The first intake for the programme, which will be taken in both Arabic and English, will take place in Dubai in April 2013. ICT Middle East, ICAs exclusive training partner in the UAE, will be running the workshops. The SCA initiative is aimed at professionals with responsibilities in compliance, legal and regulatory functions and is open to any professional working at SCA-regulated institutions in the UAE. The programme will lead to an Advance Level Certificate in Compliance.
The ICA and SCA are also holding a half-day conference in April as part of the roll-out the programmes.
Abdullah Al Turaifi, concluded "We are looking forward to accepting the initial intake of students, who will be the first to benefit from these qualifications in the UAE. Its an interesting time to be a part of this development in the region and we hope this latest agreement will only serve to develop and enhance the industry further."
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