The Chartered Institute for Securities & Investment (CISI), the leading professional body for securities, investments, wealth and financial planning professionals, has recently signed a Memorandum of Understanding (MoU) with the Jordan Securities Commission (JSC), the entity responsible for developing, regulating and monitoring Jordan’s capital market activities.
The MoU is integral in establishing an effective framework that will pave the way to implement global best practices in Jordan’s capital market sector, with the aim to foster cross-border activities and other international relations.
The CISI will support the Jordan Capital Market practitioners to attain, maintain and develop knowledge, skills and behaviour, necessary in upholding the highest standards of professionalism and ethics in the financial services profession in the country.
With this partnership, the CISI will provide International Introduction to Securities & Investment as the core qualification in the JSC programme. The CISI will also help define the certification pathways according to functions undertaken by Jordan’s capital market practitioners, provide assistance on joint action plans to build cooperation involving JSC, and invite them to annual conferences, workshops and other relevant events.
Matthew Cowan, Chartered MCSI, Regional Director at the CISI Middle East, said: “It has always been part of our mission to raise international standards within the financial services profession, and our latest collaboration with JSC cements our commitment to contributing to the growth of the profession on a regional and global scale. As a result of this MoU, financial service professionals in Jordan will have the opportunity to gain internationally recognised qualifications through the CISI, enhancing professionalism through a combination of knowledge, skills and behavior.”
H.E. Mohammad Alborani, Chief Executive at the Jordan Securities Commission said, “The signing of the MoU is the first step in our pursuit of further encouraging investment from intra-regional and foreign investors. As we foresee a more robust investment environment in the region, our collaboration with the CISI will not only keep us up with international best practices but will also facilitate active integration of the highest standards of ethics and integrity into our regulatory activities.”
The JSC is the latest in a series of regulators in the Middle East to mandate CISI qualifications, specifically linked to the provision of licensing. This is testament to the CISI’s position as a key player focused on enhancing the status of the financial services profession in the Middle East and worldwide.
“We strongly believe in nurturing mutual partnerships with local authorities and regulators that play a significant role in shaping the capital market. The CISI can equip the workforce to fully understand the importance of trust and best-in-class qualifications, all leading to a more solid regulatory framework,” Mr. Cowan added.