UK Securities & Investment Institute and DIFX Academy launch new Rules & Regulations qualification
On 13th February 2007 the UK Securities & Investment Institute (SII) and the Dubai International Financial Exchange (DIFX) Academy will launch a new, jointly developed Dubai International Financial Centre (DIFC) Rules and Regulations exam for the financial services industry in the region.
- United Arab Emirates: Tuesday, February 13 - 2007 at 08:35
- PRESS RELEASE
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| From right to left: Standing: His Excellency Dr. Omar Bin Sulaiman, Governor, DIFC , The Lord Mayor of the City of London Alderman John Stuttard . Seated: Mr. Nasser Al Shaali, CEO, DIFC Authority and Ruth Martin, SII managing director. |
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This exam will be based largely on the requirements of the Dubai Financial Services Authority (DFSA) which regulates financial services in the DIFC to international standards.
The DIFX Academy already offers the SII's technical units in Investment Management and Derivatives from the SII Certificate suite.
At the launch event, to be attended by the Lord Mayor of the City of London Alderman John Stuttard, the formal accreditation of the DIFX as an international training provider will be announced marking the UAE's commitment to raising standards of training and competence.
Following the launch, in the evening there will be the first ever Dubai-based SII members reception.
Ruth Martin, SII managing director said, 'We were delighted to be approached by the DIFX Academy to work with them on these important projects. Such professional qualifications will help complement the current training and competence regime to ensure that DIFC-based financial services staff are equipped to support the growth of Dubai as an international financial services centre.'
The Lord Mayor Alderman John Stuttard said 'I am delighted to launch the new workbook commissioned by the DIFX covering the rules of the DIFC and also to witness the partnership agreement between the DIFC and the SII. The SII will now develop its presence in Dubai and is committed to working with client firms here.'
Per Larsson, chief executive of the DIFX, said:
'As the leading stock exchange operating in the geographic space between Western Europe and East Asia, the DIFX is extremely pleased to work with the SII to support the professional training of leading members of the financial services industry. Together with the DIFC and DFSA, this initiative will increase the level of core competency of staff here in Dubai and across the wider region.'
Hamed Ali, executive officer of the DIFX, added: 'The formal accreditation of the DIFX Academy as an international training provider comes as a significant step in the ongoing expansion of services offered by the exchange. As we continue to increase the depth of our offerings to the global financial services community headquartered here in Dubai, it is imperative that we ensure that professional staff remain fully immersed in international best practices. Our ongoing partnership with the SII is one way in which we ensure that this process continues to move forward.'
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Notes and media contacts
For further information contact Lora Benson, Press Officer SII in London, UK on tel 020 7645 0662.
For further information on the DIFX, please contact:
Amira Abdulla
Dubai International Financial Centre
Tel: +971.4.362.2433
Mark Fisher
Dubai International Financial Exchange
Tel: +971.4.3622451
The Securities & Investment Institute wishes to thank Jasper Capital Consulting for their help with this project.
The Securities & Investment Institute (www.sii.org.uk) was formed in 1992 by members of the London Stock Exchange. Its mission is to set standards of professional excellence and integrity for the securities and investment industry, providing qualifications and promoting the highest level of competence to its members, firms and others.
The Securities & Investment Institute is now the pre-eminent professional body for those who work in the securities and investment industry in the UK. Over 25,000 members benefit from a programme of professional training and development. The Institute is the principal awarding body for industry qualifications and last year its examinations attracted 38,000 candidates.
The Securities & Investment Institute is also a registered charity.
Charitable Objectives:
• to promote for the public benefit, the advancement and dissemination of knowledge in the field of securities and investments
• to develop high ethical standards for practitioners in securities and investments and to promote such standards in the UK and overseas.
•to act as an authoritative body for the purpose of consultation and research in matters of education or public interest concerning investment in securities
About DIFX
The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent.
The exchange launched in September 2005 and currently has 19 Members - ABN AMRO, Abu Dhabi Commercial Bank, Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, EFG-Hermes, Hichens, Harrison & Co, HSBC, ING Bank NV, Jefferies International, KAS BANK, Morgan Stanley, Merrill Lynch, Mashreq Capital (DIFC), NBD Investment Bank, SHUAA Capital, Standard Chartered and UBS.
Issuers on the DIFX include: Equities - Albaraka Banking Group (ordinary shares), Fortune Management (ordinary shares), Gold Fields (American depositary shares), Hikma Pharmaceuticals (global depositary receipts), Kingdom Hotel Investments (ordinary shares), Man Industries (India) (global depositary receipts), Rana Sugars (global depositary receipts); Bonds - MashreqBank (Euro Medium Term Notes), National Bank of Dubai (Euro Medium Term Notes); Islamic products - Aabar Sukuk (Sukuk), Nakheel Development (Sukuk), Ports, Customs and Free Zone Corporation (Sukuk), TID Global Sukuk (Sukuk); Structured Products - Deutsche Bank (certificates over indices).
The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority.
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, February 13 - 2007 at 08:35 UAE local time (GMT+4)
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This Article was updated on Saturday, June 16 - 2007
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