BIBF launches FAP in collaboration with CBB & CISI

Kingdom of Bahrain- 05 October, 2011 - The first of the Continuing Professional Development events being arranged by the Chartered Institute for Securities & Investment (CISI) in conjunction with the Bahrain Institute of Banking and Finance (BIBF) took place this evening launching a major education and development programme by CISI, the world’s leading membership body for investment professionals. The Financial Advice Programme (FAP) currently underway at the BIBF will offer successful candidates the opportunity to become members of the CISI and benefit from the programme. This program is based on the requirements set out in the CBB Rule Book and is the first locally customized programme in Bahrain endorsed by the CBB as the minimum mandatory qualification for entry level financial advisors in the Kingdom. On this occasion, the Governor of the Central Bank of Bahrain, HE Mr. Rasheed M. Al Maraj said:” We welcome the collaboration with the CISI in introducing appropriate training programs that promote the adoption of global best practices and professional qualifications which will enable industry professionals to provide sound financial advice.” Mr. Khalid Rashid Al Zayani, President of the CISI’s Advisory Council in Bahrain, welcomed this initiative. “Improving the professional skills of those who work in banks and other financial firms is a key factor in maintaining confidence in the system,” he said. “Membership of a global professional body will give young Bahrainis a solid foundation for their careers.” Alderman Alan Yarrow, Chartered FCSI(Hon), Chairman of the Institute and Sheriff of the City of London, praised the Central Bank of Bahrain and BIBF for launching the financial advice initiative, adding: “As the Governor has said, benchmark qualifications and membership of an appropriate professional body not only recognize individuals’ achievements but also reflect their commitment to high standards of personal integrity.” The CISI's Chief Executive Simon Culhane Chartered FCSI said: “We look forward to welcoming our Bahraini colleagues into our global family, and helping strengthen yet further the Kingdom’s resilient financial sector.”