Muscat: Oman’s insurance regulator Capital Market Authority (CMA) has conducted a training workshop for local employees working in insurance sector in Salalah.
As many as 34 employees have competed the first phase of the CII certification, said a press release.
Ahmed Ali Al Mamari, directorgeneral of Insurance Supervision and chairman of the Insurance Business Training Committee at CMA, has emphasised on the importance to gain knowledge, especially in insurance field, to be able to take responsibility for the development and growth of the insurance sector.
He made the remarks at the closing ceremony of the ninth and tenth training workshops held under the auspices of Shaikh Abdullah Salim Al Rawas, chairman of Oman Chamber of Commerce and Industry (OCCI) in Dhofar as part of the 2017 training plan called ‘Tamkeen.’
This is part of Capital Market Authority’s strategy to enhance the contribution of the insurance sector in the national economy.
Two training programmes were held between August 22 and 24, 2017 on the basics of risk underwriting and creative thinking skills for the nationals working for the insurance sector.
Al Mamari said that the role of CMA in adopting new Omanisation policy depends on empowering the national cadres working for insurance companies and brokers in technical and administrative roles at the medium and higher levels rather than focusing on operational roles.
Al Maamari said that the committee continued its work for the third consecutive year. He added that ten training programmes were executed out of 18 programmes planned in the annual training plan in various insurance disciplines and accounting. As many as 300 employees working for the insurance sector participated in the programmes. CMA also continues follow up and supervision of the CII certification programme executed by the College of Banking and Financial Studies. Around 34 employees have passed first phase of the certification out of 60 employees.
The basics of underwriting programmes continued for three days and the participation of 30 employees representing insurance companies and brokers in Dhofar. The participants were acquainted with principles of risk pricing and the factors affecting the profitability of underwriting.
The second programme was on the skills of creative thinking with the participation of 18 employees delivered by Dr. Ahmed Mohsin Al Ghassani, Dean of the College of Banking and Financial Studies for the managers and heads of departments.