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Islamabad, March 28, 2014 (PPI-OT): Institute of Capital Markets (ICM) has been established to promote certification program to enhance the technical and ethical standards of capital market professionals of Pakistan. It has been formed as a ‘not for profit company’ by SECP along with key market players (KSE, LSE, ISE, PMEX, CDC, NCCPL, MUFAP, CFA Society, and ICMAP).
ICM has been mandated to: (i) certify different segments of the capital market and develop skilled professionals who have full knowledge of legal and regulatory framework, technical and ethical standards and investor rights, (ii) provide platform for research and development, and (ii) provide consultancy services on matters pertaining to capital markets.
Being a not-for-profit organization representing more than 1,100 members around the country, ICM is committed to be a supporter for ethical behaviour in capital markets and a respected source of knowledge in the local financial community.
Pursuant to the objective of promoting high ethical standards, enhanced competency of the industry professionals and protection of consumers, the Institute of Capital Markets (ICM) launched and conducting total six certification examination for; Stock Brokers, Mutual Fund Distributors, Financial Derivative Traders, Financial Advisors and other market participants.
Financial Literacy Initiative
We are delighted to invite participants in the ICM Financial Literacy Initiative (FLI). This intensive workshop is tailored for finance and business journalists, who want to broaden their focus, enhance their skills and deepen their understanding of economic and business issues of relevance to the local markets.
This effort is meant to increase the knowledge of these participants in order to analyse the financial press releases, understand and implement market ethics and foster financial literacy among investors and market participants.
Speakers have extensive experience in the industry and acquired the relevant knowledge. Participants will have opportunity interacting with the expert speakers.These programmes will be based on several seminars and workshops. The launching ceremony was been held on 28th March 2014 at Karachi.
Objective
The objective is to provide participants with essential knowledge in finance and investment field, including concepts covered in the ICM Programmes, using recent and relevant examples, and equip journalists with a better understanding of the financial tools and terminology.
ICM will bring FLI to various markets, and will have participation from many top tier media organizations in the country. Journalists, whether experienced writers or the up-and-coming ones, will benefit from a diverse range of topics covered, all explained from the investment professionals’ perspective.
Through FLI, ICM hopes to help journalists excel in their jobs, and further enhance their role in safeguarding the integrity of the financial markets.
Role of SECP
The strategic objectives of the Securities and Exchange Commission of Pakistan (SECP) include developing an efficient and dynamic regulatory framework that fosters principles of good governance in the corporate sector, ensuring proper risk management procedures in the capital market, and protecting investors through responsive policy measures and effective enforcement practices.
While, recognizing that investor education is crucial for sustainable growth of the financial markets, ensuring investor protection and bolstering confidence in the markets through investor awareness and financial literacy initiatives. The SECP—in collaboration with Institute of Capital Market (ICM) — will organize workshops on Financial Literacy for journalists in Islamabad and Lahore and Karachi.
SECP appreciates the efforts of ICM in initiating the Financial Literacy among finance and business journalists, and it ensures its continuous support in this regard.
Role of Media
Media stands as a source of information for investors and stand as a tool for instilling investor confidence. Well-tailored media satisfy this need and reduce the complexity in understanding the financial landscape. There is a need to bring simplified financial reporting to the forefront of all aspects of media. This will boost financial literacy and enhance public confidence.
• The financial message should jump to the front page. It is not enough to reach out only to those who already read the business papers or those who watch the financial news networks.
• Media should educate and not just titillate.
• Media should provide tips for investing wisely and avoiding fraud.
• Media should also develop educational material to accompany financials and risk disclosures for financial institutions
• The educational system, government agencies and research institutions should work with business news media to heighten public understanding of financial matters.
“In a world of escalating financial complexity, there is an increasing need for financial knowledge and at least basic financial skills. (Morris L Wang, 2001)”.
For more information, Contact:
Institute of Capital Markets (ICM)
Tel: 021 32072096 – 97.
Call: 0332-3295790.
Email: info@icm.org.pk.
Web: http://www.icm.org.pk/