FAQs
- What are the objectives of the Fund?
- Who should apply to the Fund?
- What is the financial arrangement offered by the Fund?
- Why would it be necessary for applicants to obtain the letter of admission, programme schedules and programme fees from the approved education provider of the Fund?
- What is the difference between CFA and CFP?
- When should the applicant register?
- What is the application procedure?
- To whom should the application be submitted?
- How long will the application process take?
- How is the evaluation exercise conducted?
- What next, if the application is successful?
- What are the responsibilities of students of the Fund?
- What are the responsibilities of Education Providers of the Fund?
- What happens if a student does not comply with the guidelines?
- Who can I refer to should there be further enquiries regarding the Fund and its Guidelines?
What are the objectives of the Fund?
BDREF was established for the purpose of enhancing the professional skills and technical knowledge of bumiputera remisiers and paid dealers representatives so as to increase their value to the Malaysian capital market and to provide an opportunity for career progression and mobility within the capital market industry .
Who should apply to the Fund?
Bumiputera dealer's representatives of stockbroking companies i.e. salaried dealer representatives and commissioned dealer representatives (remisiers) interested in pursuing professional courses that are aimed at enhancing their knowledge and expertise in the capital market. They can apply to the fund to partially finance course fees and other approved costs. Other market intermediaries licensed by the SC e.g. Futures brokers, Fund managers, Investment advisers, Investment representatives are not eligible for the funding.
What is the financial arrangement offered by the Fund?
The Fund will extend 70% of financing to students attending courses and examinations leading to professional qualifications relevant to the Malaysian capital market e.g. Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP). The students will bear the remaining 30% of the fees which will be carried forward to the next levels/modules should s/he passes his/her examination. Such arrangement should encourage commitment on the student's part.
If the student passes the exam, the 30% will be refunded as an incentive and an encouragement to continue and complete the course. If the students fails, after three attempts, the students will have to reimburse the Fund with the finance extended (excluding finances for level/modules passed) to benefit a wider pool of dealer's representatives.
Why would it be necessary for applicants to obtain the letter of admission, programme schedules and programme fees from the approved education provider of the Fund?
The Fund's approved courses are professional courses related to capital market industry. Interested bumiputera DRs should obtain all the information so that they are fully aware of the course content, schedules and fees before submitting their application to the Fund's secretariat. Hence an applicant would have a better understanding of the course he/she wishes to pursue and make arrangements for his/her study plan. The education provider could also advise the candidate if he/she is eligible to apply for exemption in certain modules of the course.
What is the difference between CFA and CFP?
Both CFA & CFP programmes are globally recognised standards and highly sought after by professionals in the financial services industry. The differences are CFA is for measuring the competence and integrity of financial analysts and their ability to apply the fundamental knowledge of investment principles at a professional level whilst the CFP designation identifies individuals who have both the academic and professional training. CFP licensees are qualified to provide advice with regard to all aspects of financial planning and to write comprehensive financial plans that meet international standards.
When should the applicant register?
The respective application form should be sent to the secretariat within the following stated period:
| Course |
Period of application/ registration |
|---|---|
| Certified Financial Planner (CFP) - June Exam | 1-31 January |
| Certified Financial Planner (CFP) - Dec Exam | 1-31 July |
| Chartered Financial Analyst (CFA) - Dec Exam (1 yr) |
1-31 January |
| Chartered Financial Analyst (CFA) - June Exam (1 yr) |
1-31 July |
| Graduate Diploma in Applied Finance and Investment (GDAFI) - Trimester 2 | 1-31 January |
| Graduate Diploma in Applied Finance and Investment (GDAFI) - Trimester 1 | 1-31 July |
| Diploma in Technical Analysis (MSTA) | 1-31 January |
What is the application procedure?
Application to the fund must be made using the prescribed application form, typed or neatly written and supported by a letter of recommendation from the stockbroking company.
Then the completed application form should be submitted to the secretariat with the following documents:
- A letter of recommendation from the principal/company
- Admission letter from the approved Education Provider
- Programme Fee Schedule
- Programme Schedule
- Photocopies of certificates/degrees/transcripts
- Photocopy of I/C
To whom should the application be submitted?
All application forms must be submitted to the SC at the following address:
The BDREF Secretariat
Securities Industry Development Centre
Securities Commission
3, Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur
Tel : 603-6204 8267
Fax : 603-6201 5811
E-mail : sidc@sidc.com.my
How long will the application process take?
All applications that are complete upon submission will be processed within two months of receipt of the application . The secretariat's due diligence consists of verification of information provided on the application forms. This is followed by an evaluation exercise (interview) to determine suitability of the applicants for BDREF committee approval. Please note that incomplete forms will delay the process.
How is the evaluation exercise conducted?
If shortlisted the applicants will receive a notification to attend an interview session with the Fund's secretariat. The evaluation exercise is being conducted at the Securities Commission building for Klang Valley candidates. For outstation applicants the secretariat will conduct the evaluation exercise at their premises if the number of applications exceeds 10 persons. Applicants from East Malaysia will be evaluated via teleconferencing.
What next, if the application is successful?
If the application is successful, the secretariat will send an offer letter together with the student loan agreement to the students. S/he and his/her guarantor are required to return the duly signed agreement with a postal/money order of RM20 for the stamp duty within two weeks. The secretariat will then submit the agreement for the board of trustees signature before the agreement can be stamped. A copy of the agreement will be sent to the students and another copy to the guarantor for record keeping.
What are the responsibilities of students of the Fund?
The responsibilities as students of the Fund are:
- Report progress to the secretariat on a monthly basis via meeting
- Ensure 90% attendance of tuition classes and revision classes throughout the programme
- Provide correct and accurate information when requested by the Fund's secretariat
What are the responsibilities of Education Providers of the Fund?
The responsibilities of Education Providers of the Fund are:
- Submit student's exam results to the BDREF secretariat within one week of the official announcement of exam results
- Submit students attendance report of the tuition classes and revision classes to the BDREF secretariat on monthly basis
- Provide correct and accurate information when requested by the Fund's secretariat
What happens if a student does not comply with the guidelines?
Failure to comply with the guidelines may result in termination of the Loan Agreement. Upon termination of the Agreement, student and/or guarantor shall repay the outstanding loan amount and any expenses incurred in recovering the loan amount to the Fund within 30 days of the termination of the Agreement.
Who can I referred to should there be further enquiries regarding the Fund and its Guidelines?
Any enquiries regarding the Fund and its Guidelines can be referred to the BDREF Secretariat at the address and contact number as stated in Question 8, above.