It will be the first of its kind in the country.
Fitch Ratings, one of the world's 'Big Three' credit rating agencies, has just announced, through its Fitch Learning subsidiary, that Egypt is to soon see the launch of an 'international credit academy', aiming at training specialists and workers across Egypt's different financial institutions and equipping them with a variety of skills they need to bolster the crucial sector.
In a statement on Monday, Fitch International further explained that picking Egypt as a host for the academy is due to its standing as one of the world's most promising developing economies, particularly praising the government's efforts to overhaul the economy and establish an attractive investment environment. The first training program is set to launch this month, training a batch of employees at a number of risk assessment and credit agencies across governmental and private institutions.
“The Egyptian market is offering investors an attractive variety of investment opportunities, and it is crucial that our young professionals not only understand the singularity of operating in this emerging market, but are empowered to address the complexities of operating in a global market and are able to navigate through complex financial and economic challenges,” said Dalia Khorshid, Egypt's former Investments Minister.
Fitch Learning is a world leader when it comes to providing financial training services, with branches in London, New York, Geneva, Singapore, Dubai and now Cairo.)