Establishment of the Finance Accreditation AgencyRef No : 09/13/03 06 Sep 2013 Embargo : For immediate release
Bank Negara Malaysia and the Securities Commission Malaysia are pleased to announce the introduction of the Finance Accreditation Agency (FAA), an international and independent quality assurance and accreditation body for the financial services industry.
The FAA provides learning programme evaluation, accreditation, and institutional audits that will contribute towards the development of quality assurance and promotion of learning initiatives within the financial services industry. In addition, the FAA will seek to develop collaborations and affiliations for mutual and global recognition with local and international professional bodies and associations, accreditation bodies, and institutions of higher learning.
To carry out its mandate, FAA collaborates closely with local and international industry specialists from different financial services sectors namely Islamic Finance, Capital Market, Insurance, and Conventional Banking and Finance. These specialists will provide advice in the review of the learning programmes and to ascertain the qualification for accreditation.
Jointly developed by Bank Negara Malaysia and the Securities Commission Malaysia, the FAA realises recommendations in the banking insurance industry and capital markets respectively the enhancement and recognition of skills and competencies within the financial sector.
FAA Board members comprise of representatives from Bank Negara Malaysia and Securities Commission Malaysia. The FAA Board for 2013 are:
YBhg. Dato' Muhammad Bin Ibrahim
Deputy Governor, Bank Negara
Madam Jessica Chew Cheng Lian
Assistant Governor, Bank Negara Malaysia
YBhg. Datin Che Teh Ija Mohd Jalil
Executive Director, Corporate Resources, Securities Commission Malaysia
Dato' Dr Syed Ahmad Hussein
Chief Executive Officer, Malaysian Qualifications Agency (MQA), Malaysia
Professor Dr Humayon Dar
Chairman, President and CEO, Edbiz Consulting Limited, United Kingdom
YBhg. Dato' Tharumah Rajah
Regional Managing Director, Asia Pacific, Middle East and Africa, Hay Group, Malaysia
Ms Jenny Sofian
CEO, Head of Southeast Asia, Amundi Singapore, Singapore
The Chief Executive Officer is Dr Amat Taap Manshor. Dr Amat has 20 years of experience in business management, 12 of which have been in education and training, holding senior management positions in universities and consulting.
FAA commenced its operations in August 2012 and its office details are:
Finance Accreditation Agency (FAA)
12-1, Level 12, Tower 3 Avenue 7,
The Horizon 2, Bangsar South,
No. 8, Jalan Kerinchi
59200 Kuala Lumpur
T: 603 2788 1212
F: 603 2788 1200
BANK NEGARA MALAYSIA
SECURITIES COMMISSION MALAYSIA
Finance Accreditation Agency (FAA) is an international and independent quality assurance and accreditation body supported by Bank Negara Malaysia and Securities Commission Malaysia. FAA is responsible for quality assurance and promotion of learning initiatives within the Finance Services Industry (FSI) through learning programme, institutional and individual accreditation, as well as promotion of future learning practices in the FSI through the development of a FAA Qualification Structure (FQS), FAA Learning Standards (FLS) and FAA Recognition of Prior Learning (FRL). Through these initiatives, FAA aims to contribute towards promoting the highest standards in the development of talent for the FSI.
© Bank Negara Malaysia, 2013. All rights reserved.