CMA continues training programmes to achieve qualitative Omanisation ratios

Muscat: The Capital Market Authority (CMA) continues execution of the programmes of the annual plan Tamkeen for the year 2023 by executing a programme in Fraud Combating in the insurance sector from September 3-7.

This is for the employees of underwriting, claims and customer services in insurance companies and brokers as well as the employees of fraud combating and legal affairs to provide them with a comprehensive understanding of fraud and its types in addition to fraud detection tools in various types of insurance.

CMA endeavours, through such programmes, to enhance the capabilities and skills of the employees of the insurance sector to realise the Tamkeen initiative for the national cadres working in the insurance sector through qualitative and digital Omanisation policy to enhance the presence of the national cadres in the three levels of operational, medium and senior management roles.

This year’s plan focuses on providing short-term and long-term specialised programmes related to insurance sciences such as accounting, management, information systems and leadership development skills including professional certification contributing to enhancing the competence of the national cards to enhance competitiveness to be able to take senior and medium administrative, technical and operational roles.

A programme in CII Certificate was held during the first half of this year as well as an ARM certificate and completion of advanced CII Diploma in collaboration with the Chartered Insurance Institute of London with 63 participants.

Further to the continuation of execution of annual basic programmes which enable the newcomers to the sector to attain a certificate in insurance fundamentals which included this year (properties insurance, compliance in insurance companies, money laundering, governance and management of insurance companies). The total number of the programmes was eight with more than 221 participants.

CMA endeavours to increase the Omanisation ratio at various levels. Statistical indicators of the insurance sector up to mid-year indicate that the total Omanisation ratio in the sector was 83.4%. Omanisation in senior roles was 57.43% and in medium administrative positions 78.112% and 91.06% in operational positions.