A Finance Sector Training Agency - the first of its kind in the Island - is due to open in Guernsey during Spring 1996 as a joint initiative by the Financial Services Commission, the Island's government and the institutions.

The need for such an agency was established in a special report by the Commission's Training Adviser Dick Taylor. His recommendations are being implemented by a steering group comprising senior managers from the main sections of the finance sector of the Island's economy. The Training Agency's role will encompass: policy and implementation; quality control; co-ordination of delivery; and a study/resource centre to support distance learning.

Mr Taylor says: 'The agency is needed because existing finance sector education and training is fragmented. Its establishment will also assist the College of Further Education to identify and meet the finance sector's complex needs.'

A 1991 survey conducted by the Financial Services Commission revealed that, in common with the UK, about 10% of the sector's workforce held professional qualifications. Mr Taylor's later report further underlined the industry's need to maintain and increase competitiveness by encouraging more of its workforce (currently about 5,300 people) to obtain appropriate professional qualifications.

For further information contact Peter Crook on Tel: +44 (0) 1481 712 706 or Fax: +44 (0) 1481 712 010.

The contents of this article are intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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