FSA receives ISO 9001 QMS certification

The Financial Services Authority (FSA) received ISO 9001 certification for its Quality Management System (QMS), marking an institutional achievement that reflects the commitment to applying best administrative practices, enhancing performance efficiency, and fostering a culture of quality and continuous improvement. The certification supports the development of the FSA’s institutional framework and the enhancement of services provided to entities and stakeholders operating in the non-banking financial sector, represented by the capital market sector, insurance sector, and accounting and auditing profession.The certificate was received by H.E. Abdullah bin Salim Al Salmi, Executive President at the FSA. The achievement reflects sustained efforts and an integrated institutional approach involving the FSA’s various sectors and units through multiple stages of implementing the Quality Management System. These efforts included developing procedures and processes, improving performance efficiency, and meeting the applicable international requirements and standards, culminating in the award of the certification. The FSA affirmed that obtaining ISO 9001 certification represents an important milestone in its journey towards institutional excellence and reflects its commitment to adopting effective administrative methodologies that contribute to improving performance quality, enhancing processes, and increasing operational efficiency in line with its strategic goals and future aspirations.The FSA noted that the achievement was the result of cooperation and integration across its various sectors and units, as well as the spirit of teamwork that contributed to the successful implementation of the Quality Management System and fulfilment of its requirements. It added that the celebration of the occasion recognises the dedicated efforts and effective contributions made by FSA employees throughout the different stages of the project.The FSA renewed its commitment to continuing its development and continuous improvement efforts and strengthening a culture of quality in the workplace, in a manner that reinforces the foundations of institutional excellence and supports higher levels of efficiency and effectiveness in carrying out its regulatory and supervisory responsibilities.It is worth noting that the FSA was established pursuant to Royal Decree No. 20/2024, issued on 25 March 2024. It is a government authority with juristic personality and financial and administrative independence and reports to the Council of Ministers.Under the Royal Decree, the FSA assumed the regulatory responsibilities previously carried out by the Capital Market Authority. The establishment of the FSA and issuance of its governing framework aimed to restructure and regulate the non-banking financial sector under its direct supervision. Since then, its responsibilities have expanded to include the regulation, awareness, development, supervision and oversight of the accounting and auditing profession, in addition to the capital market and insurance sectors.