The BAC-FAA Joint Accreditation combines the strengths of two leading quality assurance agencies to offer accreditation for an institution as well as programme-specific accreditation for its finance-related programmes. The foundation of successful higher education institutions are supportive learning environments as well as high-quality, results-driven learning programmes. Institutions awarded the BAC-FAA Joint Accreditation can assure their students they are capable of delivering the skills and knowledge needed to succeed in the workforce.
The BAC-FAA Joint Accreditation is the first of its kind and the highest mark of quality for higher education institutions offering finance-related programmes.
“FAA’s collaboration with BAC is to further promote and strengthen high quality learning and development of the international financial services industry. This collaboration is especially critical to support the objective of ensuring highly-skilled and internationally mobile financial services professionals to advance sustainable growth of the industry.”
Khairul Nizam, CEO, FAA
Institutional accreditation assesses the overall quality of the institution in the following areas:
- Governance, Strategy and Financial Management
- Academic Management and Administration
- Teaching, Learning and Assessment
- Student Recruitment, Support, Guidance and Progression
- Premises, Facilities and Learning Resources
- Quality Management, Assurance and Enhancement
Programme accreditation looks into the structure, content and delivery of learning through the following dimensions:
- Learning Programme Rationalisation
- Competency Fulfillment
- Learning Programme Structure
- Learning Programme Delivery
- Learner Assessment
- Learning Programme Recognition
Any institution offering finance-related programmes which has a formal recognised relationship with a higher education institution and meets the BAC Standards and FAA Learning Criteria are eligible to apply for the BAC-FAA Joint Accreditation provided they meet the following criteria:
- The institution is licensed by a local, regional or national licensing agency, if such licensing is mandatory or holds accreditation from a nationally-recognised educational or professional body.
- The institution offers teaching in English.
- The institution predominantly teaches learners aged 16 or over.
- Effective control of the institution is the responsibility of an accountable management.
- The institution is led by a proprietor or designated principal/director, who must have clear contractual responsibilities for the running of the institution and for the quality of its work.
- There are no grounds for believing the proprietor, principal/director or any other senior manager to be unfit to have responsibility for the institution.
- The institution has provided a relevant education programme for a minimum period of two years. Exceptionally, BAC may approve accreditation at an earlier date, although this would normally only be available to institutions which are part of a larger organisation which itself meets the above requirements.
FAA is an independent accreditation and quality assurance body for learning and development within the international financial services industry. FAA works with higher education institutions, finance industry learning providers and financial institutions across the world to accredit their finance-related academic and professional learning programmes. FAA also undertakes exercises to accredit individual finance professionals as well as other initiatives to support high quality learning and development.
Supported by the Central Bank of Malaysia and Securities Commission Malaysia, FAA’s accreditation and quality assurance activities are carried out with an international panel of technical experts, industry professionals and leading academics including from major finance markets across the world. FAA has also developed internationally- benchmarked guidelines and standards on accreditation and quality assurance for learning and development that are the first of their kinds in the world to focus on financial services.