Finance Accreditation Agency (FAA) is an independent quality assurance and accreditation body for the Financial Services Industry (FSI) set up by Bank Negara Malaysia and Securities Commission of Malaysia (SC). It is responsible for quality assurance of learning initiatives within the FSI, including programme accreditation, institutional audits and programme evaluation.

FAA contributes to quality assurance initiatives within the FSI through intellectual engagement and in partnership with relevant stakeholders.

FAA deploys its FAA Quality Framework (FQF) as the foundation for quality assurance and accreditation of adult learning as well as the point of reference for the criteria and requirements for qualifications in the FSI.

FAA Programme Accreditation is a process to recognise that the teaching, learning and all other related activities of a learning programme provided by the FSI training providers meet the FAA Learning Criteria (FLC) and are in compliance with the FQF as well as the FSI requirements.

Accreditation is available to all training providers who offer training and learning programmes. It is also available to Higher Education Institutions which are offering programmes in the fields of finance and banking to the Financial Services Industry.

Accreditation would:

  • provide the assurance that the learning programmes in the FSI have met international best practices and benchmarks
  • assure that accredited programmes are relevant and required by the FSI
  • increase the knowledge and skills base of FSI members
  • provide a learning pathway for FSI members
  • provide regional and international recognition of learning initiatives
  • provide recognition of quality to the registered programme provider

A programme achieves FAA accreditation when it complies with the criteria, policy, and procedures set in accordance with FAA Learning Criteria (FLC). FLC are based on principles of quality assurance, inclusiveness, creditability and transparency. Comprising six dimensions, FLC allow for validity, reliability, fairness and flexibility in the design and delivery of learning programmes in the FSI.

There are 3 scope of accreditation:

  1. FAA Approval
    The FAA Approval (FAV) is an accreditation process for a one- off customised programme. The Approval given is only valid for the programme to be conducted once.
  2. FAA Provisional Accreditation
    FAA Provisional Accreditation (FPV) is an exercise to determine whether a learning programme has met the minimum quality requirements preliminary to Full Accreditation. Provisional Accreditation is usually done for a new learning programme before its conduct to ensure that its design and development are done in accordance to the required learning and professional standards. FPV is valid for one (1) year before the Training Provider is required to apply for FAA Full Accreditation for this learning programme.
  3. FAA Full Accreditation
    FAA Full Accreditation (FFA) is a process to recognise that the teaching, learning and all other related activities of a learning programme provided by FSI training providers meet the FLC and are in compliance with the FQF and industry requirements. The FFA is valid for two (2) years and Training Provider is required to apply for renewal before the expiry of the validity.

** Every institution who would like to participate in the accreditation process is required to register with FAA.

Process
Duration
FAA Approval
5 - 15 working days
FAA Provisional Accreditation
4 - 8 working weeks
FAA Full Accreditation
8 working weeks
 
Professional Programmes
Academic Programmes
FAA Approval One time Not Applicable
FAA Provisional Accreditation One year Three years
FAA Full Accreditation Two years Five years

Programme accreditation is voluntary. However FAA encourages all training providers to go through the accreditation process with FAA in order for the programme to be accepted by the industry, be conformed to international best practices and for the participants to claim their Continuous Professional Education (CPE) / Continuous Professional Development (CPD) points.

MQA is responsible for monitoring and overseeing the quality assurance practices and accreditation of national higher education (academic programmes) while FAA provide high quality assurance practices and accreditation of professional learning programmes and qualification in FSI. This may include academic programmes related to Islamic Finance which seek professional recognition.

Yes. FAA accredits all Learning Programmes for FSI offered by local and international Training Providers.

FAST stands for FAA Accreditation SysTem. FAST is an online system for training providers to submit their application for Registration as Training Providers and the following accreditation services:

  • FAA Approval
  • FAA Provisional Accreditation
  • FAA Full Accreditation

You can begin using FAST by clicking on the link from FAA website www.faa.org.my

You can apply through our online system, FAST.

You will be provided with a Login ID once your application for Registration as a Training Provider is successful.

Your login ID is valid as long as you remain as a FAA Registered Training Provider by FAA. In order to maintain your validity, you are required to submit at least one (1) Learning Programme for FAA Approval, FAA Provisional Accreditation or FAA Full Accreditation within six (6) months from the date the login ID is assigned to you. Your login ID will be revoked if you fail to do so.

You can make payment via bank draft, cheque and telegraphic transfer (TT) as per the details below. A copy of your transaction slip is to be attached at the payment section in FAST.

Name of Account : Finance Accreditation Agency Berhad
Name of Bank : Malayan Banking Berhad
Account No. : 5642-5855-8884
SWIFT Code : MBBEMYKL
Bank Address : Level 1, Tower A
  No. 1, Jalan Maarof, Dataran Maybank
  59000 Kuala Lumpur, Malaysia.

You can login to FAST to check your application status. You will also be notified via email and an official letter.

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