The CISI (Chartered Institute for Securities & Investment) and the Palestine Capital Market Authority have created the world’s first entry level qualification for participants in the Palestine Capital Markets - a milestone in the development of the Palestinian Capital Market. The Palestine Sector Rules and Regulations Qualification (PSRRQ), is launched today and the first exam sitting will take place in Ramallah 21st September 2013.
The Palestine Capital Market Authority long realised that a key component to success was educated professionals working within the PCMA itself as well as those in the financial sector. A partnership with the CISI was established in 2009 to create the qualifications that would underpin that vision. This has already resulted in impressive numbers of candidates taking the CISI’s International Introduction to Investment whilst the new qualification unveiled today was under development.
Maher Masri, PCMA Chairman said: “The Palestine Capital Market Authority (PCMA) takes pride in being one of the first capital markets in the Arab region to apply this qualifying exam in partnership with the CISI; PCMA views this step as a clear manifestation of its resolve to upgrade the quality standards of practitioners in the securities sector.”
According to Abeer Odeh, CEO of Palestine Capital Market Authority (PCMA), that PCMA “has recently taken on serious steps toward developing the capital markets in Palestine.” As we consider the financial sector is a key component to a successful economy. Mrs. Odeh further added that, “our collaboration with the CISI to advance the ‘Palestine Securities Rules and Regulations Certificate’ has sought a remarkable turnout for the PCMA, thus leading to a notable progression in the performance of the Palestine securities sector, particularly in advancing the professional development by having highly qualified practitioners in the financial sector.
Ruth Martin, CISI Managing Director commented: ‘The CISI has been privileged to be selected as the global partner with the PCMA in the development of its local regulatory exam, Palestine Securities Sector Rules and Regulations. By having well qualified practitioners the PCMA has proactively demonstrated its commitment to raising standards in the markets and preparing the way for those practitioners to be highly regarded.’
Kevin Moore, CISI’s Global Business Development Director said: ‘The CISI is proud to work with regulators across the Middle East – with the Palestine exam joining others in the UAE, Oman and Qatar. This helps establish clear benchmark standards for people working in those markets which is good for practitioners, the regulators, and of course, the customers.’
The CISI has representative offices in financial centres including Dublin, Singapore, Dubai, Mumbai and Colombo.
