The Ghana Investment and Securities Institute (GISI) and the Chartered Institute of Security and Investment (CISI), a professional securities and investment body in the United Kingdom (UK), have signed a Memorandum of Understanding (MOU) under which the latter will help build the capacity of professionals in the securities and investment industry in Ghana.
By the agreement, CISI will train and expose professionals in Ghana to new and improved practices and trends in the securities and investment industry.
Also, the various securities and investment organisations in the country will undergo some mentoring as part of efforts to upgrade them in line with global international standards.
The Chairman of GISI, Rev. Daniel Ogbamey Tetteh, who is also the Director General of the Securities and Exchange Commission (SEC) and the Chief Executive Officer of CISI, Mr Simon Culhane, signed the MOU on behalf of their respective institutions at a short ceremony in Accra on Monday, June 11.
Relevance of MOU
Speaking to the media after the short ceremony, Rev. Tetteh said the need to adequately deliver on its mandate as expected by clients in the securities and investment industry was a major factor behind their decision to enter into a partnership agreement with CISI.
In so doing, he said, it was crucial to ensure that professionals in the securities and investment industry were given the knowledge and skills needed which was something that CISI was offering.
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"We now find ourselves in a dynamic environment where a lot of changes are ongoing in the financial space and so we need to ensure that, on a continual basis, professionals who operate in the securities and investment industry have what it takes to ensure that investors who have put their trust in them are not disappointed".
"And so this whole collaboration is basically to deepen what we already have in terms of preparing people to effectively operate in the securities industry," he said.
He said with the MOU in place, resource persons from CISI would train local professionals on international best practices regarding the sector.
From there, it would formally adopt the CISI examinations into the GISI framework with an agenda to ensure that Ghanaian professionals in the industry would be well-versed in their operations.
He said the training of local professionals and adoption of CISI examination would commence next year.