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ICT Middle East signs new training agreement with Saudi Arabia’s Capital Market Authority

Saudi Arabia: Tuesday, March 06 - 2012 @ 14:58

ICT Middle East will deliver two certificated programmes in Anti-Money Laundering and in Compliance. Both programmes are aimed at professionals at CMA-regulated financial institutions in Saudi Arabia but with scope to grow across all financial services sectors. This follows a recent agreement reached between the International Compliance Association, ICA and the Capital Market Authority (CMA) of Saudi Arabia.

ICT Middle East was established in 2008. It has worked in partnership with leading regulators and government agencies across the Gulf Cooperation Council (GCC) providing training and education leading up to certification from the ICA for Dubai Financial Services Authority, the Central Bank of Bahrain, the Central Bank of Oman, the Qatar Financial Centre Regulatory Authority, the Securities and Commodities Authority of the UAE and now, the Capital Market Authority of Saudi Arabia.

The ICA is a well-known and respected professional awarding body and was instrumental in the creation of 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.

The CMA Saudi Arabia programmes will encompass international best-practice in all aspects of anti-money laundering, fraud prevention and regulatory compliance and will be delivered within the overall ICA training and certification framework. Both programmes are awarded in association with the University of Manchester Business School.

Helen Langton, Managing Director of ICT Middle East, stated, “The Financial centres across the GCC have been a key component of the growth of ICT globally and we are delighted to announce the latest partnership with the CMA in Saudi Arabia. We continue to see a trend amongst regulators in the region, encouraging the appointment of certified professionals to key compliance and anti-money laundering roles. In a relatively short space of time, we have worked with 475 people who have completed or are in the process of completing an ICA programme. ICT Middle East will continue to focus on developing best practice, delivering qualifications, setting standards and driving research in risk management in the financial services sector in the region.”

The first intake in the two core subjects will begin in May 2012 in London. Subsequent intakes will be made available in both London as well as locally in the region later in the year, in both English and Arabic. The CMA initiative is aimed at professionals with responsibilities in legal, AML, compliance and regulatory functions and is open to any professional working at CMA-regulated institutions in Saudi Arabia, having successfully completed the relevant CMA Capital Market Examinations; as well as other interested candidates from other sectors of the financial services industry. The ICA and the CMA will be hosting an introductory briefing for interested candidates in Riyadh on 26th March 2012.

Helen Langton concluded,

“At the ICT Middle East we are committed to supporting our market professionals to develop and enhance their skills with internationally recognised qualifications. These qualifications both contribute to their day to day capabilities but provide longer term career enhancement and mobility across markets. With strong underlying growth in the economies and financial markets in the region, we see great opportunities to grow our professional training programmes for professional across the GCC.”

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Tuesday, March 6- 2012 @ 14:58 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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