CISI signs agreement with Egyptian capital markets regulator
The Egyptian Financial Services Institute (FSI) and the CISI have signed a memorandum of understanding (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.
CISI Global Business Development Director Kevin Moore, Chartered MCSI, 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 co-operation, EFSA and FSI 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 the CISI with its track record and credentials could be a significant contributor in that direction.
Dr Shahinaz Rashad, Executive Director of the FSI said: “The co-operation with the CISI is a significant step to fulfill the FSI's role in 'building skills for best practices'. I am very optimistic about how such a partnership would help in adopting the best practices and raising the professional standards of most professions in the Egyptian capital market"
Pictured signing the MoU are, from left, EFSA and FSI Chairman Sherif Samy, Dr Shahinaz Rashad, Executive Director of the FSI and CISI Global Business Development Director Kevin Moore, Chartered MCSI
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