Tamkeen Empowers the Presence of the Qualified Omani Youth in the Insurance Sector with Four Certified Professional Certification Programs and It Expands to Cover the Capital Market Sector

According to the latest indices of Tamkeen Training Plan of 2023, the total number of participants in the long-term professional certification programs was 113 employees from the insurance sector.  The plan included the coverage of four professional certifications. First, Cert CII by the Chartered Insurance Institute London with participation of 22 employees. Second, continuation of two courses of Dip CII of the previous batch with participation of 17 employees.  Third, the implementation of ARM certificate program with participation of 24 employees. Fourth, the implementation of (CIPD – Level 3) with participation of 18 employees. Additionally, Tamkeen plan of 2023 introduced the Fundamentals Certificate Program to acquire new employees with thorough knowledge of the sector.  The first round of this program was implemented at the beginning of this year with participation of 32 employees.

This plan comes as a part of the efforts aiming at developing Omani cadres in the insurance sector and creating an attractive environment for young competencies. The CMA implements a series of short-term and long-term training programs and professional certifications programs during the year based on the training requirements of the insurance market.

During its eight years run, Tamkeen Initiative has focused on short-term training programs which showed a positive impact on trainees in terms of focusing on the latest updates of technical operations, applications and products of the insurance sector.  The CMA implemented short training programs during this year with participation of 202 employees from the insurance sector which were: compliance and money laundering in insurance companies, governance and management of insurance companies, properties insurance, combating fraud in the insurance sector, preparation and analysis of financial statements for insurance companies, engineering insurance and combating cyber risks.  There will be an additional short-term training program during this month, Auditing Health Insurance Claims Administrators.  At least 35 employees are expected to join this programa.

It is worth mentioning that Tamkeen 2023 initiative has introduced a number of new training programs that resulted from the analysis of data and indices of the sectors regulated by the CMA including companies operating in the securities sector.  The targeted group of such programs were compliance officers since they are the focal point between the CMA and such companies. The new training program will be implemented during the last quarter of this year with participation of at least 25 compliance officers and their assistants.