Financial Markets Association Chief in town

The Sri Lanka Forex Association (SLFA) yesterday announced the visit of ACI The Financial Markets Association to Sri Lanka President Manfred Weibogen from 7 to 9 December 2012.

He will be the first President of ACI to visit Sri Lanka. His visit showcases Sri Lanka’s growing prominence in the global arena as a result of the significant contribution made by the SLFA in terms of ACI education and market development.

He will be here to celebrate the 30th anniversary of the SLFA, the local branch of ACI, the leading financial market body for foreign exchange and money market personal since 1982.

While here Weibogen will present the new ACI Model Code to the officials of the Central Bank of Sri Lanka and market participants. Sri Lanka formally adopted the Model Code in 2006, this along with the ACI suite of exams now form an integral part of current regulations that govern market practice and ethics.

In addition to this Weibogen will meet CEOs and heads of treasuries of licensed commercial banks, to reiterate ACI’s support to the local market and ascertain areas in which there could be potential to improve/change.

Members of ACI are, in large, engaged within the financial trading or sales environment in the global financial markets representing foreign exchange, interest rate products and other securities, banknotes and bullions, precious metals and commodities and various kinds of derivatives.

ACI was founded in Paris in 1955 as the Association Cambiste Internationale and is headquartered in Paris, France and is an umbrella organisation for a large number of national associations of foreign exchange dealers and other staff in regulated financial institutions. It serves as an internationally recognised body to facilitate examinations for practitioners of foreign exchange and money market operations working closely with a number of major regulatory bodies.

Over the years ACI has become a standard of the International Financial Markets in terms of maintaining its professional level of competence and ethical standards of loyalty. From a local context the ACI suite of examinations are currently recommended as one of the mandatory qualifications for persons engaged in treasury and global market activities in Sri Lanka. Furthermore local foreign exchange market participants officially recognise the ACI Model Code in relation to its dealing practices.

The Sri Lanka Forex Association is an affiliate of ACI and the national association representing ACI in Sri Lanka. The Sri Lanka Forex Association aims to be the premier association in developing, promoting, and stimulating innovation in the financial market/s of Sri Lanka, by providing continuous learning opportunities and upgrading of human capital of all stake holders, thus ensuring greater financial deepening and sustained growth and prosperity.