Macau Institute of Financial Services (IFS)
The Macau Institute of Financial Services (IFS) was established in March 2002, and its founding members are the Monetary Authority of Macao, Macao Association of Banks, Macao Insurers’ Association and Macao Insurance Agents and Brokers Association. The objectives of IFS are to upgrade the professional standard of Macao’s financial practitioners by providing professional training and examinations aiming to foster the sustainable development of Macao’s financial industry.
In line with its objectives, IFS is committed to organizing diversified training programs, such as practical training courses, seminars providing participants with up-to-date information, internationally-recognized professional certification programs, etc. Furthermore, in order to uphold the professional standard of Macao’s financial practitioners, IFS holds licensing and certification examinations in the financial area, such as Insurance Intermediaries Qualifying Examinations (IIQE), Hong Kong Licensing Examination for Securities and Futures Intermediaries, CFP Certification Examinations, Shenzhen-Hongkong-Macau FinTech Professional Program, etc.
The Continuing Professional Development (CPD) Programme for insurance intermediaries has been implemented in Macao since 2018. It aims to promote the professionalism of insurance intermediaries through continuous learning. IFS has been appointed by the Monetary Authority of Macao as the assessment body of the CPD Programme since 2018.
At the end of 2022, IFS had 63 corporate members and 11 individual members; its corporate members include 4 founding members, 3 financial associations, 1 credit institution (postal savings bank), 27 commercial banks, 20 insurance companies, 4 insurance corporate brokers, 2 financial intermediary companies and 2 money changers; and its individual members are successful candidates of the FAIQ exam looking to use the FAIQ designation.
Up to the end of 2022, IFS activities had attracted over 160,000 enrolments, including about 46,000 enrolments in IFS training programs, and over 114,000 enrolments in licensing and certification examinations in the financial area (over 112,000 enrolments in the IIQE, and over 1,800 enrolments in other examinations).