Mauritius launches the 2020 training schedule of the Financial Services Institute, focused on theoretical concepts and their application into real-life business practices through effective knowledge transfer.

In March this year, the Minister of Financial Services and Good Governance Mahen Kumar Seeruttun announced that the Financial Services Institute (FSI) and the Open University of Mauritius will be collaborating to launch new programs related to the financial sector. The offering of the joint award programs is near finalization.

The new programs on offer

This offering is going to focus on theoretical concepts and their application into real-life business practices through effective knowledge transfer. It will lay particular importance on job and future readiness in the financial services field. The FSI was set up in 2018 with a dual mandate of raising competencies and harnessing the employability skills of our Mauritian’s youth for job readiness. This institution is funded by the Government and it constitutes the training arm of the Ministry of Financial Services. It is open for education, training and development at a time when global forces are shaping lives and work. Currently, demands of employers are getting increasingly complex and demands of higher education are intensifying like never before.

Courses offered by the Financial Services Institute

Having for mission to design, develop, market and execute highest quality training for capacity building, the FSI offers the following courses:

  • Exclusive Competency-based Training for Professionals: this training for professionals in the financial services industry will help them meet with the evolving skills and competency requirements. Thus, it will help build an appropriate ecosystem to propel Mauritius as an International Financial Services Centre of excellence with world-class industry professionals.
  • The Bespoke Financial Services Employability Program: this aims to raise the employability skills and knowledge of unemployed graduates thereby supporting the policy of job creation and bringing unemployed youth to the workplace.
  • Empowerment of Women through Board Directorships: this suggests ways and strategies for a career shift in directorship roles by providing practical and actionable tools complemented by real-life stories of board experiences to help create the right opportunities and be ready for it when it happens. It is designed for any employee aspiring to become a board member and newly appointed directors.

A collaboration with Global Finance Mauritius

Moreover, in light of expanding the financial sector and training more individuals into professionals of the fintech firm, the government is implementing other programs. For instance, Minister Seeruttun advanced that there are talks about a project with Global Finance Mauritius. The latter is the apex body representative and broad-based financial services association in Mauritius. These discussions, which have reached an advanced stage, are related to collaborations in the design and conduct of specialist training. It will be inspired from training recommendations set out in the Financial Sector Blueprint.

The importance of training programs

The Minister recognized the importance of continuous training in an address. He advanced that it was a necessity for the prosperity of Mauritius in respect of promoting knowledge and skills. A culture of continuous education had been one of the hallmarks of Asia’s great success stories. For instance, Singapore transformed itself from a developing country to a modern industrial economy in just one generation thanks to this. As such, these new programs are going to enhance the financial services industry which is poised to become the main engine of growth and job creation for the Mauritian economy.

of Mauritius in respect of promoting knowledge and skills. A culture of continuous education had been one of the hallmarks of Asia’s great success stories. For instance, Singapore transformed itself from a developing country to a modern industrial economy in just one generation thanks to this. As such, these new programs are going to enhance the financial services industry which is poised to become the main engine of growth and job creation for the Mauritian economy.

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