SC launches Bumiputera Dealer’s Representatives Education Fund – one of 10 measures to boost capital market announced in March
The Securities Commission (SC) today launched the RM5 million Bumiputera Dealer’s Representatives Education Fund (BDREF) or Dana Pendidikan Wakil Peniaga Bumiputera (DPWPB) to strengthen the role of Bumiputera dealer’s representatives in the capital market by enhancing their professional skills and technical knowledge.
“The financial aid provided by the Fund would enable Bumiputera dealer’s representatives to pursue professional courses to increase their value to the Malaysian capital market,” said the SC Chairman, Datuk Ali Abdul Kadir.
The BDREF, established with funds contributed by the Kuala Lumpur Stock Exchange (KLSE), is managed and administered by the SC through its training and education arm the Securities Industry Development Centre (SIDC). The fund was first announced in March 2003 as part of the Government’s announcement on the 10 measures to stimulate and further enhance the Malaysian capital market.
“This (Fund) would increase the number of Bumiputera dealer’s representatives with professional qualifications and facilitate their career progression in the capital market,” said Puan Huda Ikhwan, President of Persatuan Remisier Bumiputera Malaysia (PRIBUMI).
“The initiative is a significant step in developing skilled human capital for the nation’s capital market, in line with the emphasis placed on training and education in the Capital Market Masterplan,” said Encik Yusli Mohamed Yusoff, Chief Executive Officer of CIMB Securities Sdn Bhd and Chairman of the Association of Stockbroking Companies (ASCM).
The Fund is open to all Bumiputera dealer’s representatives pursuing the following professional courses: Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Graduate Diploma in Applied Finance and Investment (offered by Permodalan Nasional Berhad), Professional Certificate in Investment Planning (offered by the Open University), Professional Diploma in Financial Planning (offered by the Open University) and the Diploma in Investment Analysis (offered by Research Institute of Investment Analysts Malaysia – RIIAM).
A board of trustees, comprising representatives from the SC, KLSE, ASCM and PRIBUMI will oversee the implementation of the Fund.
Under the Fund, Bumiputera dealer’s representatives can obtain 70 percent financing for courses and examinations leading to professional qualifications relevant to the Malaysian capital market e.g. Certified Financial Planner and Chartered Financial Analyst. As an incentive to motivate full participation, the remaining 30 percent borne by the participant will be reimbursed upon successful completion of the course. Conversely, the participant would be required to reimburse the amount extended by the Fund if he/she fails after three attempts.
Interested Bumiputera dealer’s representatives may contact the SIDC Training Department at tel: (03)-6204 8573, fax: (03)-6201 5811 or email: [email protected]