Kenyan capital markets receive new boost with ICIFA and CISI joint membership deal
28 August 2019
The Chartered Institute for Securities & Investment (CISI) and the Institute of Certified Investment and Financial Analysts (ICIFA) have confirmed a partnership which will support the enhancement of standards in professionalism and integrity in Kenya’s capital markets. The deal is composed of the following mutual benefits:
Qualifications and membership recognition
Under the partnership ICIFA has been accredited as a training provider with the mandate to offer training for CISI’s qualifications in Kenya. Additionally, the partnership means that those holding CISI qualifications can apply for CIFA exemptions. CISI will offer ICIFA Full Members the opportunity to join CISI as Full Members and to use the designatory letters “MCSI”. Then, having completed one year’s Continuing Professional Development (CPD) these ICIFA-CISI Full Members can become CISI Chartered MCSI. In addition CISI will be offering ICIFA Associate Members (those with less than three years’ experience) the opportunity to join CISI as Associate Members and use the designatory letters “ACSI”. By completing three years of CISI CPD, ICIFA-CISI Associate Members can progress towards Chartered MCSI status. This means that ICIFA–CISI Associate and Full Members can progress to CISI Chartered status without taking further CISI exams.
Joint membership and CPD programme
The partnership will offer practitioners joint membership with the two Institutes. Both Institutes will provide CPD opportunities, including an events programme.
Promotion of Integrity
As part of a commitment to promote integrity and ethics CISI and ICIFA will join forces to create a joint programme aimed at raising the standards of professionalism. Kevin Moore, Chartered MCSI, CISI Global Business Development Director said: “We are delighted to confirm our partnership with the ICIFA. This reciprocity deal will offer membership, professional qualifications and CPD benefits to both parties, sharing skills and competencies to meet and exceed the challenges of working in globally competitive capital markets. “I am thrilled to be able to endorse this arrangement which will further enhance Nairobi as an international financial services centre.” FA Dr. Jonah Aiyabei of ICIFA said: “The partnership between ICIFA and the CISI sets a significant milestone for closer collaboration among the two professional institutes. We are indeed proud to be associated with the CISI and we look forward to a cohesive working relationship aimed at promoting integrity and professional development in the financial services industry not just in Kenya but globally.”
CISI’s first African office was opened in Kenya in 2018 and over the last 18 months there has been a significant uptake of CISI exams in Africa.