The Institute of Chartered Accountants of India (ICAI) today signed a Joint Declaration with the Bahrain Institute of Banking and Finance, which will foster working relations between the two bodies.
The declaration was signed by Mr. Gary Muriwai, Director, Bahrain Institute of Banking and Finance (BIBF) and CA. Uttam Prakash Agarwal, President, ICAI at concluding day of the International Conference Winds of Challenges-Global Strategies for Accounting Profession at Agra, organized by ICAI from July 3-5, 2009. The International Conference was attended by over 2100 delegates and about 150 delegates from over 20 countries.
CA. Uttam Prakash Agarwal, President ICAI in his address remarked, What a remarkable occasion it has been. Last two days, we have been witnessed to promote newer vistas of bilateral co-operation with Australia and Canada. Today, it is the turn to foray into MENA region. Bahrain is the most mature, well-established business hub with the largest financial institutions in the Gulf.
Mr. Gary Muriwai, Director, BIBF said that This declaration will establish closer working linkages between ICAI and Bahrain Institute of Banking and Finance as it will enable the two to draw synergies from the professional expertise available with each other in areas of accounting, financial engineering, corporate governance and alike.
This declaration is an embodiment of efforts to harness the potential that exists by taking advantage of each others expertise in designing distance education programs, designing study materials for students, examination systems, and disciplinary and regulatory mechanisms. Specific areas of mutual assistance would be identified for collaborations thereat.
This initiative would allow both the Institutes to work towards capacity building for professional of all nationalities within Bahrain. The parties will build up a communication strategy so as to portray objectives of this declaration amongst stakeholders nationally i.e. in Bahrain to achieve the objectives stated.
To start with, in the morning of 5th July, the concluding day of the event, Go Green run was organized which witnessed a large participation from the members and students of the Institute. The run was flagged off by Bollywood actor Rahul Bose along with CA. Uttam Prakash Agarwal, President, ICAI, CA. Amarjit Chopra, Vice President, ICAI, CA. Dhiraj Khandelwal, Chief Coordinator and CA. Anuj Goyal, Convenor of the Conference. Over 3000 students, members and their families participated in the run.
While addressing the media, Rahul Bose said The initiative Planet Alert is a step towards preserving our environment from Global Warming. This is really good that Chartered Accountant fraternity has come forward to support the cause.
The Institute of Chartered Accountants of India is a statutory body established by an Act of Parliament viz., The Chartered Accountants Act, 1949 in the year 1949 for regulating the profession of Chartered Accountants in the country. The Institute, which functions under the administrative control of Ministry of Corporate Affairs, Government of India, has five Regional Councils and 118 branches covering the length and breadth of the country. In addition, it has also set up 21 chapters outside India.
The main functions of the Institute of the Chartered Accountants of India are prescribing qualifications for membership, holding examination and arranging practical training of candidates, enrolment of members, publication and maintenance of register of members qualified to practice the profession, carrying on activities for development of the profession and regulation and maintenance of status and standard of professional qualification of the members.
About Bahrain Institute of Banking and Finance (BIBF)
Bahrain Institute of Banking and Finance (BIBF) is the premier education and training institute for financial sector in Bahrain.