CISI Impressive Turnaround in the Cypriot Financial Markets

March 12, 2018

The recovery of the financial services sector in Cyprus after the financial crisis has been impressive, according to Kevin Moore, Director of Global Business Development, Chartered Institute for Securities and Investment (CISI). At the same time, he notes that CySEC has helped to increase professionalism in the financial services sector.

 What is CISI? When was it founded and what is its purpose?

The Chartered Institute for Securities and Investment (CISI) is the professional body of choice for financial practitioners within the securities and investment industry.  It has a range of globally recognised qualifications and supports individuals through membership from the student level to the pinnacle of their career. CISI is a not-for-profit institution with a Royal Charter, and works to ensure products and services are up to date, relevant and meet the needs of the ever-changing financial services.

The CISI emerged from the London Stock Exchange when it was demutualised over 20 years ago. The Institute operates globally, with its headquarters in London and regional offices in Mumbai, Dubai, Singapore, Manila, Barcelona, Colombo, Nairobi and Dublin, plus representation in Nigeria. The CISI’s qualifications are internationally recognised in more than 45 countries and over 92% of the world’s leading banks employ staff who have qualified with the CISI.

Our mission is: ‘To set standards of professional excellence and integrity for securities, investment, wealth and financial planning professionals, providing qualifications and promoting the highest level of competence to our members, individuals and firms’.

 When was CISI Cyprus established? What is its mission to Cyprus and how is it linked to the CISI professional body in Britain?

The CISI formed a National Advisory Council (NAC) in Cyprus in 2009 to support practitioners in the local financial services sector. The NAC forms a key part of CISI’s work in Cyprus, helping to build the strong relationship between CISI and the regulator, running CPD events for local members, and providing a local presence for the CISI with support from London.

Financial education is becoming increasingly important for those who work in the financial services sector, and CISI looks to assist in increasing professional excellence and integrity for professionals within financial services. To this aim, CISI provides professional qualifications – written by practitioners for practitioners – with some of CISI’s exams mandated by CySEC, the Cypriot regulator. The CISI has links with three highly regarded Cypriot educational bodies: the European Institute of Management and Finance, the Cyprus International Institute of Management and the European University in Cyprus, which means that high-quality training can be offered for CISI exams in Cyprus, helping to increase the knowledge and skill-set of professionals.

 Who are the members of CISI Cyprus? How many members are listed today in Cyprus?

CISI membership offers designatory letters to qualified professionals to demonstrate their achievements, and hundreds of online hours of continuing professional development (CPD) opportunities to help keep knowledge relevant and up-to-date. Approximately 45,000 people are CISI members across 104 countries, with 970 members (including 830 student members) in Cyprus.

CISI offers its Cyprus members a wealth of CPD opportunities including our members’ magazine; networking and CPD events across Cyprus; Cyprus-specific elearning modules covering topics such as MiFID II and Anti-Money Laundering; and, of course, our Annual Gala Dinner. Our membership in Cyprus is growing and we have a choice of membership levels to suit everyone, from those just starting out in the financial sector to people at the pinnacle of their careers.

 How would you describe the level of financial services offered in Cyprus and what are the prospects of this sector in Cyprus?

Cyprus has been ranked as one of the fastest growing EU economies, and the turnaround in the Cypriot financial markets and wider economy following the financial crisis has been impressive. The efforts of CySEC, the regulator, have done much to increase the professionalism of the financial services sector; by mandating both exams and CPD within the financial services sector, CySEC has ensured that Cyprus has a growing well-equipped and professional workforce.

Source:  Gold News Cyprus