| 23 Feb 2010 |
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Tamkeen and Ernst & Young launch CIMA Post-Graduate Qualification in Business Accounting and Islamic Finance
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New qualification aligned to Bahrain 2030 Economic Vision
to meet regional finance industry skills gaps needs
, Ernst & YoungErnst & Young and The Chartered Institute of Management Accountants (CIMA), the world's largest and leading professional body of management accountants, today launched its Post Graduate Qualification in Business Accounting and Islamic Finance in the Kingdom of Bahrain. The qualification, offered by TamkeenTamkeen and delivered by Ernst & YoungErnst & Young, is a one year programme consisting of the CIMA Certificate in Business Accounting and the CIMA Certificate in Islamic Finance - both established business qualifications in their own right that are international in scope. The programme will arm 130 Bahraini graduates with the skills and knowledge required to help fulfill the need for 1,340 banking and investment specialists in Bahrain, based on the Skills Gaps survey conducted by TamkeenTamkeen.
Speaking at the launch, Aubrey Joachim, President of CIMA, said: "This innovative qualification aims to address the need in Bahrain for qualified finance professionals who are able to operate internationally. The programme will provide foundation knowledge of global business and accounting skills complemented with a wider knowledge of Islamic Finance, which is increasingly gaining recognition across the world."
TamkeenTamkeen's Vice-President for Human Capital and Enterprise Development Dr. Ahmed Abdul Ghani Al Shaikh said: "We are proud to witness the rapid progress of our ambitious plan to train 130 Bahraini graduates in Islamic finance and business accounting. We trust that with the support of our partners Ernst & YoungErnst & Young, who will deliver the one-year training programme that enables graduates to be qualified and certified from the Chartered Institute of Management Accountants, we will be able to achieve our goals of equipping Bahrain with qualified professionals who will serve the country's growing banking sector and human capital demands."
The goal of diversifying the economy and driving growth requires qualified professionals well versed in global best practices and with an understanding of the global economy; something this certification will provide to aspiring finance professionals in Bahrain. This qualification will help drive future progress where, as the Economic Vision states, productivity and proportion of high-wage jobs in the financial sector will be a benchmark for other sectors.
The programme was designed to align with the needs of Bahrain's finance sector and the country's 2030 Economic Vision. Those completing the programme will be able to contribute to the nation's goal of Bahrain growing to become an even stronger international financial hub. The Post Graduate qualification will enable its graduates to operate on a global platform, helping drive Bahrain towards its economic targets.
An earlier Ernst & YoungErnst & Young study showed an urgent and growing need for Islamic finance professionals with a relatively low number of Bahrainis currently employed in the sector making one of the major challenges facing Islamic finance the lack of a trained national workforce.
Mr. Tariq Sadiq, Accounts and Business Development Leader Middle East said: "We are honoured to be the only approved training provider for the Chartered Institute of Management Accountants in Bahrain and to have been chosen by TamkeenTamkeen to execute their ambitious plan to train Bahraini graduates. Ernst & YoungErnst & Young and TamkeenTamkeen have a successful track-record of collaboration in the task of equipping Bahrainis with qualifications needed to fulfill the leadership's Vision 2030 put forth for the country's development efforts.
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The Chartered Institute of Management Accountants, founded in 1919, is the world's leading and largest professional body of Management Accountants with 172,000 members and students operating in 165 countries, working at the heart of business. CIMA members and students work in industry, commerce and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers' choice when recruiting financially-trained business leaders. CIMA is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy. CIMA is proud to be the first professional accounting body to offer a truly global product in the fast-moving area of Islamic Finance.
According to independent research conducted by the University of Bath School of Management, CIMA's syllabus and examination structure are the most relevant to the needs of business of all the accountancy bodies assessed. See the CIMA Difference report for further information at www.cimaglobal.com/thecimadifference.
For more information about CIMA, please visit www.cimaglobal.com.
Follow us on Twitter at www.twitter.com/CIMA_News
Tamkeen:
TamkeenTamkeen is a semi-autonomous yet independent authority which formulates strategic and operational plans to enhance the overall prosperity of Bahrain by investing in Bahraini employability, job creation and social support. TamkeenTamkeen is funded by the fees collected by the Labour Market Regulatory Authority.
TamkeenTamkeen's main objectives are to support Bahrainis to become the employees of choice, and to support high quality private sector job creation
To achieve these objectives, TamkeenTamkeen will invest in the cost and quality competitiveness of Bahrainis (e.g., reduction of cost of employing Bahrainis relative to expatriates, investment in skill and work ethic development programs of Bahrainis); in tackling employment barriers on both employer and labour market entrants' sides through a combination of financial incentives and capability building, and in supporting the private sector's adjustment to new cost structures by providing access to capital to alleviate short-term cash constraints or improve productivity, and in know-how initiatives that support improvements in productivity and decreased reliance on expatriate labour through spreading management and technical knowledge.
TamkeenTamkeen has invested more than BD 100 million in more than 40 projects targeting more than 19,000 Bahrainis and 5,700 SMEs. Programmes are continuously being devised as per TamkeenTamkeen's strategy and the numbers of beneficiaries are continuously increasing.
Ernst & YoungErnst & Young:
The Middle East practice of Ernst & YoungErnst & Young is an independent professional services firm, which has operated in the region since 1923 and is a full member of Ernst & YoungErnst & Young Global. For over 80 years, we have evolved to meet the legal and commercial developments of the region, helping businesses achieve their potential. Across the Middle East, our 4,400 people are united across 20 offices and 15 Arab countries, sharing the same values and commitment to quality.
We are proud to support the business community in the Middle East by providing high quality training programmes to enable organisations to improve the skills and enhance the performance of their employees. The programme that started in late 1980's has continued to expand and most of our offices are now able to provide training services to the business community and have their own in-house training facilities.
We are particularly proud of the number of programmes we offer that give local staff the opportunity to study for internationally recognised qualifications. By offering the opportunity to study for such qualifications, employers are assured that their local staff are as well qualified in their field as staff recruited from abroad.
In a relatively short period we have become one of the leading high quality training
organisations in the Middle East. Our geographic coverage of the region and the availability of the training resources of one of the world's leading professional firms is a major reason for our growth.
For more information, please contact:
Tel: 17 585 323
Fax: 17 585 302
Email: ey.training@bh.ey.com
Website: www.ey.com/me/training
For press enquiries please contact:
Fadi Fahem
Account Manager, TBWA/RAAD/PR
Tel: +971 55 255 4939
Fadi.Fahem@tbwaraad.com
Katie Scott-Kurti
Public Relations Manager, CIMA
Tel: +44 (0) 20 8849 2347
Katie.Scott-Kurti@cimaglobal.com
For more information on our programmes and initiatives, please contact:
Marketing Communications - TamkeenTamkeen
Kingdom of Bahrain
Tel: 17383335/17383327
Fax: 17382352
Email: info@tamkeen.bh
Website : www.tamkeen.bh
© Press Release 2010
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