MFORR is an examination that needs to be undertaken in order to be licensed to trade in The Kuala Lumpur Options & Financial Futures Exchange (KLOFFE) and Malaysian Monetary Exchange (MME). It is designed to reflect the current body of knowledge on futures and options. The course is divided into 4 modules designed as a practical study of the rules, regulations, trading procedures and operations in use. This course will be administered jointly by Malaysian Monetary Exchange (MME) and The Kuala Lumpur Options & Financial Futures Exchange (KLOFFE). The first 10-day course is designed for graduate students from local universities from May 06 to May 15, 1996 at Universiti Kebangsaan Malaysia for its students as well as for Universiti Malaya and Universiti Islam Antarabangsa.

"This course is one of the two projects, which is sponsored by SC. The second pilot project will be held in June at Universiti Utara Malaysia for its students and for Universiti Sains Malaysia students," said Dato’ Munir.

This programme is created as part of the SIDC’s effort in encouraging Bumiputra’s participation in the futures and options industry. Out of the 159 futures broker representatives licensed up to May 02, 1996, only 23 or 14.5% are Bumiputras. Only 2 of 18 registered locals are Bumiputras. SIDC hopes that with the new programme more Bumiputras will participate fully in the development of the capital market and in the emergence of Kuala Lumpur as a regional capital market centre.

One of the SIDC’s future plans is to embark on a major project to develop a derivatives module to be incorporated in the Advanced Diploma in Business Studies, Finance offered by Institut Teknologi Mara (ITM). The module will be structured in a manner that all MFORR syllabus will be covered, resulting in all the students to be adequately prepared to sit for the MFORR examination after graduating. "Universities have also expressed interest in this module and in introducing this course into the university syllabus," said Dato’ Munir.

SC’s sponsorship of this program is estimated at RM1,000-00 per student.