The qualifications are offered in association with the University of Manchester Business School.

The two programs are destined for practitioners working in financial institutions approved by the CMA and include training them in the best world practices on anti-money laundering, fraud/financial crime, compliance, and risk management.

Commenting on the deal, CMA Chairman Abdulrahman Al-Tuwaijri said the CMA is committed to train staff at financial institutions so as to improve their skills and, therefore, to obtain internationally-recognized qualifications.

Merited with reputed position as a training organization on risk management and compliance, ICA was chosen to offer two programs prepared to provide a long-term program meant to improve efficiency of financial industry in the Kingdom, he said.

The first stage of the programs will be launched in May 2012 in London, and later shifted to the region. The programs will be presented in both English and Arabic.

He called on practitioners working in financial institutions to join the programs, which will acquaint the participants with international experience on anti-money laundering and compliance.

On his part, Bill Howarth, ICA head of the council, described the deal with the CMA as important. He said the partnership includes rehabilitation of trainees and support in setting standards and conducting research in the Saudi financial services sector, which is growing rapidly, he said.

ICA is a major global provider of professional certificated qualifications and training in anti-money laundering (AML), compliance and fraud/financial crime prevention.