FREQUENTLY ASKED QUESTIONS (FAQS)
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.
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 finance course fees and other approved costs. Other market intermediaries licensed by the SC, e.g. futures broker’s representatives, fund manager’s representatives and investment representatives are not eligible for the funding.
The Fund will extend 100% 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 Diploma In Technical Analysis (MSTA). If the student passes the exam, the funding extended will automatically be converted into a scholarship. If the student fails, to successfully complete the professional course, the student will have to reimburse the Fund with the finance extended to benefit a wider pool of dealer’s representatives.
If shortlisted, the applicants will receive a notification to attend an assessment based on the professional qualification applied for. The assessment will be conducted at the Securities Commission building.
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 assessment exercise to determine suitability of the applicants for BDREF committee approval. Please note that incomplete forms will delay the process.
All application forms must be submitted to the BDREF Secretariat at the following address:
The BDREF Secretariat
Securities Industry Development Corporation
Securities Commission 3, Persiaran Bukit Kiara
Bukit Kiara 50490 Kuala Lumpur
Tel : 603-6204 8757/8632
E-mail : email@example.com
The responsibilities of Education Providers of the Fund are to provide correct and accurate information when requested by the Fund’s secretariat.
The responsibilities as students of the Fund are to:
- Ensure high attendance of classes throughout the programme
- Send results to the secretariat within 2 weeks from the date of release of the results
- Provide correct and accurate information when requested by the Fund’s secretariat
Failure to comply with the requirements 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 the time prescribed by the secretariat.
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
- Photocopy of birth certificate or proof of Bumiputera status
If the application is successful, the secretariat will send email notification to collect the study loan agreement and relevant forms to the applicants. The applicants and guarantors are required to return the duly signed agreement, completed guarantor forms photocopies of the guarantors’ identification cards together with a postal/money order of RM40 for the stamp duty within two weeks from the date the study loan agreement was collected.
The secretariat will then submit the agreement for the board of trustees’ signature before the agreement can be stamped. A duly stamped of the agreement will be sent to:
- 1 copy to the applicants;
- 2 copies to the guarantors.
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 6, above.
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.