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IFS

 

 

Macau Institute of Financial Services

The Macau Institute of Financial Services (IFS) was established in March 2002 as a non-profit organization. Its founding members are the Monetary Authority of Macau, the Macau Association of Banks, the Macau Insurers’ Association and the Macau Insurance Agents and Brokers Association.

The objectives of the IFS are to upgrade performance, expertise and professional standard of Macao’s financial practitioners by provision of professional training and qualifying examinations so as to foster the sustainable development of Macao’s financial industry.

In line with its objectives, the IFS is engaged in organizing diversified training programs covering a wide range of topics, such as practical training courses, accredited courses leading to professional qualifications, seminars with up-to-date information, etc. IFS training activities have provided Macao’s financial practitioners with opportunities to continue their education.

Furthermore, in order to uphold professional standards of Macao’s insurance intermediaries, the IFS has conducted the Insurance Intermediaries Qualifying Examinations (IIQE) under the Insurance Intermediaries Quality Assurance Scheme since its establishment.

At the end of 2016, the number of IFS corporate members stood at 59 including 4 founding members, 3 financial associations, 26 commercial banks, 21 insurance companies, 2 financial intermediary companies, 2 money changers and the postal savings bank. At the same time, the IFS had a total of 30 individual members (successful candidates of the FAIQ exam, who wish to use the FAIQ designation).

Up to the end of 2016, around seventy thousand participants had attended the activities organized by the IFS, of which about fifty thousand registering for the insurance intermediaries qualifying examinations, about eight thousand taking IFS courses, about nine thousand attending seminars/shops, more than one thousand six hundred taking professional qualification programs in financial planning, and the “Accredited Banking Practitioner” program.