Sri Lanka visit by Financial Markets Association chief

Dec 05, 2012 (LBO) – Manfred Weibogen, head of Paris-based Financial Markets Association, representing forex, money and derivatives traders of the world, will visit Sri Lanka from December 07 to 09. Weibogen expected to meet heads of treasuries of commercial banks to discuss ACI’s support to the local market. Sri Lanka Forex Association (SLFA), the local branch of the organization said his visit coincides with the 30 anniversary of the local association which was founded in 1982.

The ACI (Association Cambiste Internationale) dates back to 1955 when European forex markets started to become more volatile with war time restrictions being gradually rolled back, and gold standard was being undermined in favour of depreciating paper fiat money.

ACI is involved in education and market development activities.

The SLFA said Weibogen will meet officials of the Central Bank and market participants and present ACI’s new Model Code.

“Sri Lanka formally adopted the Model Code in 2006. This along with the ACI suite of exams now form an integral part of current regulations that govern market practice and ethics,” SLFA said.

SLFA said ACI exams are recommended as one of the mandatory qualifications for persons engaged in treasury and global market activities in Sri Lanka.