CMA Continues Training Programs to Achieve Qualitative Omanization Ratios

The Capital Market Authority continues execution of the programs of the annual plan “Tamkeen” for the year 2023 by executing  a program in Fraud Combating in the insurance sector during the period 3-7 September 2023 for the employees of underwriting, claims and customer services in insurance companies and brokers as well as the employees of fraud combating and legal affairs to provide them with  comprehensive understanding of fraud and its types in addition to fraud detection tools in various types of insurance.

CMA endeavors, through such programs, to enhance the capabilities and skills of the employees of the insurance sector to realize the Tamkeen initiative for the national cadres working in the insurance sector through qualitative and digital Omanization policy to enhance the presence of the national cadres in the  three levels of operational, medium and senior management roles.

This year’s plan focus on providing short term and long term specialized programs  related to insurance sciences such as accounting, management, information systems, leadership development skills  including professional certification  contributing to enhancing the competence  of  the national cards to enhance competitiveness to be able to take  senior and medium  administrative, technical and operational roles.

A program in CII Certificate was held during the first half of this year as well as ARM certificate and completion of advanced CII Diploma in collaboration with the Chartered Insurance Institute of London with 63 participants. Further to continuation of execution of annual basic   programs which enable the new comers to the sector to attain a certificate in insurance fundamentals which included this year (properties insurance, compliance in insurance companies, money laundering, governance and management of insurance companies). The total number of the programs was 8 with more than 221 participants.

CMA endeavors to increase Omanization ratio in the various levels. Statistical indicators of the insurance sector up to mid- year indicate that total Omaniztion ratio in the sector was 83.4%. Omanization in senior roles was 57.43%, and in medium administrative  positions 78.112% and 91.06% in operational positions.