London, 22 August, 2016 – The British Accreditation Council and the Finance Accreditation Agency (FAA), Malaysia’s independent quality and assurance body for the higher education sector, have signed a Memorandum of Collaboration (MoC) which seeks to elevate the quality and standards of learning through joint accreditation.
The MoC marks a significant milestone for both institutions and its respective countries, where their joint accreditation expertise are expected to craft opportunities for graduates looking at cross-jurisdictional practice in the financial services industry.
Through this collaboration, FAA will accredit finance-related learning programmes while BAC will oversee the accreditation of educational institutions. Furthermore, this partnership will see FAA and BAC jointly working to develop standards and quality systems, conduct R&D in quality assurance and learning and development, share best practices as well as conduct joint workshops and industry dialogues.
Officiating the signing ceremony were Paul Fear, CEO of BAC and Dr Amat Taap Manshor, CEO of FAA.
Paul Fear added that “accreditation under the BAC/FAA scheme will offer enormous benefits to institutions, students and the financial services organisations around the world. Our work will increase transparency and raise standards for the mutual benefit of all stakeholders”.
During the ceremony, Dr. Amat commented that “it is a brilliant opportunity to collaborate with BAC in driving a common objective of elevating standards and quality systems through accreditation. Collaborations such as this is very important for FAA as we work towards our goal of creating highly skilled and internationally mobile professionals for the global financial services industry”.
Through the MOC, institutions of higher education offering finance-related programmes will be able to benefit from the joint accreditation and expertise of both partners. BAC has successfully accredited institutions in the UK and internationally since 1984 and FAA has accredited learning programmes across the globe since its inception in 2012.