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Capacity Building: Concluding (9) training programs in the second half of 2017

Published on: 01/02/2018

As of the second half of 2017, the UASA’s General Secretariat started implementing a number of specialized training programs in line with the requirements and training needs of the Union members. The preparation of these training programs came within the framework of the UASA’s strategic plan 2016-2020 objectives that was approved by the UASA Board in early 2016. The plan aimed for self-capacity building by holding a series of training programs and workshops to contribute in the development of self-regulatory capacities and enhancing the efficiency and effectiveness of regulatory authorities in various areas. The training programs specifically target the human cadres working in the regulatory authorities at different levels of employment, especially those working in regulatory and supervision aspects of capital markets institutions. Some programs also target other entities operating in the capital markets, including exchanges, deposit and settlement centers, brokerage firms, listed companies, banks, financial institutions and other entities related to the capital markets.
The UASA’s training are carried out by a group of distinguished institutions and institutes with extensive experience in the fields of capital markets. These institutions are also committed to the best international standards in this field. In addition, the UASA’s General Secretariat in cooperation with a group of experts in various fields, has carried out specific programs designed to meet the requirements of the Union members as well as the entities, institutions and companies under their supervision. The training programs implemented during 2017 included a set of training programs that would qualify the participant to obtain an internationally recognized professional certificate after passing the required examinations. The training programs offered include a number of programs designed to meet the needs and requirements of the members.

The following is a review of the most important programs implemented during the second half of 2017:
 
1. Risk in Financial Services – Oman

The Union of Arab Securities Authorities and the Capital Market Authority of Oman held a training program on Risk in Financial Services in Muscat from 21 to 23 August 2017. The program aimed to provide participants with a broad understanding of the risks facing capital markets, including operational, investment and liquidity risks. The training program attended by (20) trainees from UAE Securities and Commodities Authority, Oman CMA, Qatar Financial Markets Authority, and Kuwait CMA. In addition to a number of Arab stock exchanges, Muscat Clearing and Depository, the Central Bank of Oman and a number of Omani banks and brokerage companies. The Risk in Financial Services program aimed to introduce the major risk areas in financial services, and provided a sound grounding in the principles of the risk management framework and corporate governance and risk oversight. It covered specific techniques used in identifying, reducing and managing operational risk, credit risk, market risk, investment risk, liquidity risk and other risks.

2. Combating Financial Crimes in Financial Markets – Lebanon

The Union of Arab Securities Authorities and the Capital Market Authority of Lebanon held a training program on Combating Financial Crimes in Financial Markets in Beirut from 18 to 19 October 2017. The training program attended by (30) trainees from the Syrian Commission on Financial Markets and Securities, the Capital Markets Authority of Kuwait and the Capital Markets Authority of Lebanon. In addition to Beirut Stock Exchange, Banque du Liban, and a number of entities operating in financial markets and brokerage companies from Lebanon and Sudan. The program aims to support and develop the knowledge and skills of the workers in the competent departments of the regulatory authorities and financial market institutions, which are responsible for detecting and prosecuting financial crimes introducing the latest global developments and methods of committing financial crimes in financial markets to ensure deterring violators and compensating victims. The program discussed several subject such as the recent developments of financial crimes in the global financial market and the techniques to discover new financial crimes to support market oversight, in addition to the preparation of criminal prosecution files and the development of regulators' role in combating financial crimes.

3. Technical & fundamental Analysis – Egypt

The Union of Arab Securities Authorities and the Egyptian Financial Supervisory Authority held a training program on Technical & fundamental Analysis in Cairo from 25 to 28 September 2017. Attended by (12) trainees from UAE Securities and Commodities Authority, Iraqi Securities Commission, and Egyptian Financial Supervisory Authority; the training program aimed to familiarize participants with the fundamental analysis and evaluation of shares, as well as the evaluation framework, the cash flow forecasts and models used in the evaluation. In addition to defining the technical analysis and how to use technical analysis in different circumstances of the financial markets, including controlling risks and the technical analysis of this issue professionally.

4. Islamic Finance (Advanced Level) – Jordan

The Union of Arab Securities Authorities and Jordan Securities Commission held a training program on Islamic Finance in Amman from 31 October to 02 November 2017. The training program attended by (20) trainees from the Jordan Securities Commission, Saudi Capital Markets Authority, the Syrian Commission on Financial Markets and Securities, and Morocco AMMC (Autorité Marocaine du Marché des Capitaux). In addition to Central Bank of Jordan, and a number of Jordanian entities operating in financial markets, brokerage companies and Banks. The program is designed to equip candidates with the requisite technical understanding and professional skills on Shari’ah compliance and review processes for the international Islamic banking and finance industry, and advanced knowledge on the influence of Shari’ah in a business context and prepares candidates to hold key positions in the Islamic finance; beside that this training focus on Sukuk its principles, structures, methodologies, and practical transactional issues.

5. Corporate Governance: Supervision and Enforcement – UAE

The Union of Arab Securities Authorities and the Securities and Commodities Authority Training Centre held a training program on Corporate Governance: Supervision and Enforcement in SCA’s headquarters in Dubai from 20-21 December 2017. The training program was attended by trainees from the Capital Markets Authorities and a number of entities operating in financial markets and brokerage companies. The program shed light on the recent international developments related to the principles of governance, including the review of the corporate governance rules issued by the Organization for Economic Co-operation and Development (OECD) and its implementation in a number of countries. It also reviewed ways to strengthen regulatory authorities’ supervision especially with regard to conflicts of interest and related party transactions disclosure, and the importance of having an effective framework for enforcement.


6. Training Programs – Kuwait

The UASA’s General Secretariat in cooperation with Capital Markets Authority of Kuwait implemented four training programs during 2017. These programs included combating financial crimes in financial markets, risks in financial services, and Islamic finance (first level). A number of employees of the CMA Kuwait participated in these programs. This program is within the framework of the objectives of the strategic plan of the Federation of Arab Securities Commissions 2016-2020, which was approved by the UASA Board last year. 

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