The Muscat chapter of the Institute of Chartered Accountants of India (ICAI) recently got a nod from India's Ministry of External Affairs to extend its tie-up with the College of Banking and Financial Studies (CBFS) in Oman. The five-year alliance will see a host of new offerings from ICAI in terms of new customised curriculum meant for accounting students of CBFS.
The memorandum of understanding between ICAI and CBFS was renewed on April 30. CBFS runs under the aegis of the Central Bank of Oman (CBO).
Avadh Kishore, chairman of ICAI's Muscat chapter, said it is hoping to begin a financial technician's course by June-July this year, which will supplement the main chartered accountancy course taught at CBFS.
"The financial technician's course is currently in existence in India and we would like to bring that course here for the benefit of expats and Omanis alike. This will be a major activity for us this year," Kishore said.
In addition, the chapter is planning to introduce a short-term course in derivatives this year. All the courses will be run by CBFS and the ICAI Muscat chapter will facilitate it.
The Muscat chapter was set up in 2008 with the aim of creating more capacity for Omani accountants and imparting professional education in the sultanate. It currently has 400 members, which include CEOs, CFOs, auditors, accountants, tax professionals and bankers.
Kishore added that the Muscat chapter, among the top five chapters outside India, will also continue to bring in noted personalities from the government and financial sectors in India to address the Indian diaspora in Oman.
P Chandrasekhr, member of the managing committee of ICAI's Muscat chapter, said that the Chartered Accountants' course is not as popular in Oman when compared to Certified Public Accountant, a statutory title of qualified accountants in the United States or the Association of Chartered Certified Accountants (ACCA) of the UK.
"We have held discussions on how to make our chartered accountants course more lucrative to Omanis and how we can customise this otherwise rigorous course to suit Oman, taking into consideration laws which apply here," he said.
© Muscat Daily 2011
