Fundamentals of Capital Market Development and Regulation (for AGFUND MFIs, 2020)
This course is funded by the Arab Gulf Development Programme (AGFUND), a regional organization based in Riyadh, Saudi Arabia. AGFUND was established in 1980 upon the initiative of His Royal Highness, Prince Talal Bin Abdul Aziz Al Saud with the support of leaders of the Gulf Cooperation Council Countries: United Arab Emirates, Kingdom of Bahrain, Kingdom of Saudi Arabia, State of Qatar, Sultanate of Oman and the State of Kuwait. AGFUND works mainly in the field of development and growth at the international level through an effective partnership with the United Nations Organization, with regional and national development organizations, with public institutions, with the private sector, as well as with organizations of the civil society. | http://agfund.org
A capital market is a market for securities (debt or equity), where governments and business enterprises (companies) can raise long-term funds. It is defined as a market in which money is provided for periods longer than a year, as the raising of short-term funds takes place on other markets (e.g., the money market). The capital market includes the stock market (equity securities) and the bond market (debt). Financial regulators, such as the UK's Financial Services Authority (FSA) or the U.S. Securities and Exchange Commission (SEC), oversee the capital markets in their designated jurisdictions to ensure that investors are protected against fraud, among other duties. In today's highly institutionalized and globalized financial markets (not to mention inter-connected markets), careful and progressive development and regulation of capital markets by developing countries and emerging economies will provide a major impetus to sustaining their development efforts and economic growth. This foundation course on capital market development and regulation provides a holistic overview of the institutions and challenges facing developing and emerging economies relating to their financial sector development. This course will discuss the major building blocks of an effective capital market and the policy environment needed to help in its development. More importantly, this course draws on lessons from the global economic and financial crisis and leverages the discussion board to provide practical hands-on advice to participants relating to their particular reality.The course will also include issues related to the growing interaction of emerging markets with developed capital markets.
At the end of the course, the participants should be able to:
- Define capital markets and understand the pertinence of regulation measures therein;
- Differentiate the role of government from that of the private sector in the development and regulation of capital markets;
- Categorize financial instruments in the capital market;
- Formulate and regulate measures to sustain their country's development efforts and economic growth; and
- Develop and propose a plan that will support the public and private sectors as partners in facilitating the flow of capital and investments that stimulate business growth and overall economic development.
The course consists of the following modules:
- Module 1: Introduction to Capital Market Theory and Development
- Module 2: Financial Instruments in the Capital Market
- Module 3: Creating the Opportunity for Public Offerings
- Module 4: Public Offerings from the Issuers Perspective
- Module 5: The Secondary Market
In order to ensure the best possible outreach, the course will be delivered through e-learning. Through a multiple-instructional setting, the goal is to achieve the learning objectives by means of learning technologies that match personal learning styles and by the inclusion of non-linear learning that aims at the development of just-in-time skills of adult learners. At the same time, in order to allow participants maximum flexibility of scheduling , the learning will be conducted in an asynchronous manner. Using a state-of-the-art training architecture, UNITAR will combine self-learning with assessments and online discussions. The pedagogy - adapted specifically to professionals in full-time work - will help train participants through various experiences: absorb (read); do (activity); interact (socialize); reflect (relate to one’s own reality).
This course is relevant to participants drawn principally from government ministries, agencies, and financial institutions most directly involved in capital market matters. Experience in prior courses has shown that dialogue between the public and private sector representatives is highly beneficial to an understanding of respective interests and concerns.
Priority will be given to applicants from Microfinance Institutions supported by the Arab Gulf Development Programme (AGFUND).
This course is free of charge to selected participants throught the generous financial support of the Arab Gulf Development Programme (AGFUND).
A Certificate of Completion will be issued jointly by UNITAR and AGFUND to all participants who complete the course-related assignments and assessments successfully. Course schedule is subject to change.
Recommended hardware and software requirements for taking our e-learning courses:
- Platform: Windows XP sp3, Vista sp2, Windows 7 sp1, MacOS X.
- Hardware: 2 GB of RAM and higher for Vista and Windows 7.
- Software: Microsoft Word, Microsoft Excel, Microsoft Powerpoint and Adobe Acrobat Reader (downloadable for free at adobe.com).
- Browser: Internet Explorer 8 or higher; Mozilla Firefox 8 or higher.
- Internet connection: 128kbps and higher.
- Note: JavaScript, pop-ups & cookies must be enabled.