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Equivalency

Equivalency

Professional Certificates and Exams Equivalency Program

About the Service:

The “Professional Certificates and Exams Equivalency Program” helps individual professional to consider their professional qualifications as an equivalent to one or more of SCA Qualification –Led Licensing Exams, and as per the criteria stipulated by the Securities & Commodities Authority.


Service Fees
:

1500 Dhs/ nonrefundable per application

To apply for Exams Equivalency Service:sca_eq@sca.ae

Professional Certificates and Exams Equivalency Program service card

Requirements and Conditions of Service:

  1. This service is available for individual seeking equivalency of professional certificates and exams.
  2. This service is restricted to professional certificates and exams. Using academic qualifications or work experience for equivalency purposes is not permitted.
  3. Under whatever circumstances, “The UAE Financial Rules and Regulations” exam cannot be subject for equivalency purposes.
  4. each successful application may consider only One SCA Qualifications-Led Licensing Exam for equivalency.
  5. The applicant will be advised if more than on SCA Qualifications-Led Licensing Exam is approved for equivalency to submit additional application/s.
  6. Applicants should provide evidence of current membership with the awarding body/qualification provider.
  7. Service fees must be paid before the equivalency application is processed. The service fee is nonrefundable regardless of the application decision (approval or rejected).
  8. The equivalency application review is processed in 20 work days. An extension may be applied if required.
  9. At its own discretion, SCA may review, update, or amend its list of approved certificates and exams, whether periodically or otherwise.
  10. The applicant should include and attach all information related to the professional certificate or exam specified in the equivalency application. This includes but not limited to: certificate photocopy, syllabus, official exam result, or any additional reference may be used for review and verification.
  11. During the review process, the applicant may be requested to provide further documents or references electronically or physically to assist the review & verification process.
  12. The Applicant may be required to sign additional disclaimers or official documents that facilitate access to certificate information or validating information mentioned in the equivalency application.
  13. In case of rejecting the Equivalency application, the applicant will be informed of the result and/or may be advised to submit further evidence or information via “request for review” form
  14. The Application decision may be reviewed only once, and within 10 working days from the decision date, when using “ request for review” form including the require evidence information or documents.

FAQ:

Q: Is there are a difference between exam “exemptions” and “equivalency?
A: SCA does not permit exam exemptions which are based on academic qualifications or work experience. The “Professional Certificates and Exams Equivalency Program”, however, accommodates to consider professional specialized qualifications as an alternative to one or more of SCA Qualification -Led licensing Exams.

Q: Who can benefit from the “Professional Certificates and Exams Equivalency Program”?
A: All individuals seeking equivalency of professional certificates and exams to facilitate the licensing requirements of capital market jobs in the UAE.

Q: What are the professional qualifications/exams that are approved by SCA for equivalency purposes?
A: There are hundreds of international professional qualifications and exams related to the fields of finance, investment, and capital market. Accordingly, there is no official restriction to which of these qualifications may be considered equivalent to one or more of SCA licensing exams. On the other hand, SCA will publish a list of professional qualifications which were approved via the official website of SCA Training Centre. This list may be used for guidance purposes and is not meant to indicate exclusivity nor it may be an obligation for SCA to affect new equivalency applications.

Q: Which of SCA Qualification -Led licensingExams may be subject to equivalence?
A:All of SCA Qualification -Led licensing Exams can be subject to equivalency, EXCEPT “ The UAE financial Rules and regulations” exam

Q: Is there a ceiling to the number of SCA exams which may be granted based on the equivalency application?
A: Only one SCA licensing exam may be considered for each successful application. However, if more than one SCA licensing exam is granted approval for equivalency, applicants will be advised of their right to submit an additional/separate application.

Q: If the equivalency application is rejected, is it possible to request a review of the decision?
A:Yes. The applicant may require a review of the decision, within 10 working days after the decision date. The “Request for review” form must be used for this purpose.

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