CmaBoardReleases
Title: The Capital Markets Authority Successfully Completes the Preliminary Implementation Phase for the Professional Qualifications Program with a Fulfilment Percentage of 99.8% and Announces that the Program has Entered the Mandatory Application Phase
Kuwait, October 2, 2021- The Capital Markets Authority (CMA) announces that Thursday, September 30, 2021, is the date for the end of the preliminary implementation phase for the Professional Qualifications Program. The Program is the main deliverable of CMA’s strategic qualifications examinations project for Registered Employment Positions, in accordance with Resolution No. (145) of 2019 Regarding Amending Some Provisions of the Executive Bylaws of Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their Amendments.
The CMA would like to commend the cooperation of the licensed persons, who played a major role in achieving the desired goal of this Program, as the fulfilment percentage of the persons registered in the first segment reached (99.8%). This percentage confirms the licensed persons’ cooperation and confidence of the corrective measures and decisions of the CMA, that shall upgrade the financial market and keep pace with practices of the international markets.
In this regard, the CMA announces the commence date for the mandatory implementation of the Professional Qualifications Program for the Registered Employment Positions, and calls on all those concerned with the Program; persons registered in the Registered Employment Positions and persons to be registered in the future to join the Program and take its exams. Passing those exams is a requirement for registering in those positions as of the commencement of entering the mandatory implementation phase of the Program on October 1, 2021.
In conclusion, the CMA emphasizes the importance of the Program for all those concerned with securities activities and Registered Employment Positions. This is due to its positive personal and professional impacts. It also impacts the entities in which they work, and actively contributes to upgrading the efficiency of the entire financial market. It also provided them with advantages that are not limited to acquiring new skills, increasing their intellectual abilities, improving the level of their performance and tasks and enhancing its quality and professionalism. It provides them with specialized international certificates approved by the CMA and the accredited international institute for those exams that qualify them to work in similar jobs inside and outside the State of Kuwait due to the professional qualifications that are recognized worldwide. Moreover, they have no specific period for their expiration, and they provide more career opportunities and open up career prospects for people with ambition.
-Ends-
Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw