News
In light of CMA’s strategy for developing and enhancing the capital market, as well as protecting investors and limiting non-commercial risks, and in pursuit of completing the development policy it adopts, a need has risen for re-structuring securities brokerage companies and enhancing efficiency of their staff to promote the fast moving securities industry and provide maximum protection for investors.
Against this background, decision no. 24 of 2007 regarding licensure controls for securities brokerage companies was issued, with the purpose of enhancing efficiency of market staff and, consequently, raising the performance level of brokerage companies. It also stipulated that that staff working at securities brokerage companies must get required licensure including participation in specialized training courses and passing relevant, CMA-accredited tests.
For the purpose of implementing the CMA’s strategy, an agreement has been concluded between the CMA and the UK Securities and Investment Institute (SII). Under this agreement, both parties will operate the above licensure system. SII will supply the CMA with curricula and technical tests. It will also cooperate with the CMA in establishment of the Egyptian Center for Securities and Investment and the tests center at the CMA headquarters in downtown Emad El-Din St. which is being prepared and equipped with state-of-the-art equipment to enable computer-assisted testing in English and Arabic.
According to the licensure controls for staff of securities brokerage companies, such staff must pass a group of tests including a test on introduction to investment and securities (international curriculum) and legal and regulatory rules for the Egyptian Capital Market.
Today, the CMA is pleased to announce the issuance of the first, preliminary version of the introduction to investment and securities (international curriculum) in Arabic. The CMA has participated in reviewing this material which was prepared by SII. This edition is the first one that must be used for developing the curriculum of the next editions.
To note, the CMA has agreed with SII to amend the cooperation agreement to give more width to the role of the CMA regarding preparation of the technical materials and tests on the legal and regulatory rules for the Egyptian Capital Market, and to achieve the effectiveness of this agreement so that it reflects legal aspects in force in the Egyptian market. The amendment included extending cooperation to include the Arabic version of the book on the introduction to investment and securities (international curriculum) in all Arabic speaking countries of the Middle East. Further, the CMA has got the full legal property rights for this material.
Against this background, decision no. 24 of 2007 regarding licensure controls for securities brokerage companies was issued, with the purpose of enhancing efficiency of market staff and, consequently, raising the performance level of brokerage companies. It also stipulated that that staff working at securities brokerage companies must get required licensure including participation in specialized training courses and passing relevant, CMA-accredited tests.
For the purpose of implementing the CMA’s strategy, an agreement has been concluded between the CMA and the UK Securities and Investment Institute (SII). Under this agreement, both parties will operate the above licensure system. SII will supply the CMA with curricula and technical tests. It will also cooperate with the CMA in establishment of the Egyptian Center for Securities and Investment and the tests center at the CMA headquarters in downtown Emad El-Din St. which is being prepared and equipped with state-of-the-art equipment to enable computer-assisted testing in English and Arabic.
According to the licensure controls for staff of securities brokerage companies, such staff must pass a group of tests including a test on introduction to investment and securities (international curriculum) and legal and regulatory rules for the Egyptian Capital Market.
Today, the CMA is pleased to announce the issuance of the first, preliminary version of the introduction to investment and securities (international curriculum) in Arabic. The CMA has participated in reviewing this material which was prepared by SII. This edition is the first one that must be used for developing the curriculum of the next editions.
To note, the CMA has agreed with SII to amend the cooperation agreement to give more width to the role of the CMA regarding preparation of the technical materials and tests on the legal and regulatory rules for the Egyptian Capital Market, and to achieve the effectiveness of this agreement so that it reflects legal aspects in force in the Egyptian market. The amendment included extending cooperation to include the Arabic version of the book on the introduction to investment and securities (international curriculum) in all Arabic speaking countries of the Middle East. Further, the CMA has got the full legal property rights for this material.