CMA Continues Its Series of Training Programs of Tamkeen Initiative and Conducts a Training Program in Collaboration with the Egyptian Financial Regulatory Authority

As the Capital Market Authority (CMA) continues to implement its plan to qualify national cadres working in the insurance sector, it conducted the “Engineering Insurance” program on Monday.  This program comes as a part of the series approved Tamkeen programs for 2023 annual plan.  The CMA, through such programs, seeks to empower the national cadres working in the insurance sector in order to achieve qualitative Omanization ratios targeting the operational, medium and senior administrative positions.

This program is one of the fruitful outcomes of the Memorandum of understanding (MoU) signed by the CMA and the Financial Regulatory Authority (FRA) of Egypt in the fields of regulatory information exchange and mutual cooperation.  The program was conducted in collaboration with the FRA’s Financial Services Institute.  It targets employees of the Omani insurance sector to provide them with thorough understanding of engineering insurance and its types, risks and type of losses and how they are managed. In addition, participants were introduced with underwriting, settlement and management of claims related to engineering insurance and reinsurance.

It is worth mentioning that the CMA approves training plans that contain short and long term programs in an annual basis to achieve its vision of empowering the National Cadres in the insurance sector.  The 2023 Tamkeen Initiative focuses on the quality of the programs and their significance to providing specialized positions with qualified and competent Omani cadres.  The participants for these programs will be selected based on their qualifications, experience, classification of administrative levels and Omanization percentages in specializations and departments of the sector.