RELEASE - January 19, 2002
News: AAFM reaches Global Alliance with AACSB
AAFM Recognition, Listings and Disclosure
has been recognized in the following news journals: Beijing
Times, Commercial & Business Time, Beijing Modern Business,
www.qianlong.com, Bright News Daily, China Daily, China
Youth Daiy, CEO and CIO Information Times, Financial News,
China Securities News & China Insurance News.
The Honorable Officials of The Chinese Government Recognized
and Sanctioned The American Academy of Financial Management
in an Exclusive Strategic Alliance and Partnership to Further
Enhance Financial Wealth Management in China.
is a first in history where the largest government in the
world has formed an alliance with a professional financial
organization for Graduate Certification Training",
Prof. Prof. Byrnes, M.F.P. Mas. Fin. Prof.
The American Academy of Financial Management (AAFM) further
consolidated its position as a world-class financial certification
body this week when its MFP - Master Financial Professional
programs, along with six other financial industry certification
programs, were approved by the Chinese government for nationwide
launch throughout China.
The programs have now been officially adopted by the State
Economic & Trade Commission's (SETC) own Training Centre
for Economic Cadres (TCEC), for delivery across the Mainland.
The SETC supports almost 40 individual training centers
nationally and the first round of AAFM programmes has been
scheduled to commence early in 2003.
On May 23rd, 2002, the SETC released an official letter
announcing a mandate to provide medium and longer-term business
management training to senior State Owned Enterprise (SOE)
management personnel. Under that mandate, the SETC sought
partners of globally recognized financial competency and
certification providers to work with their training centers
to improve SOE capability in the areas of financial reporting
and management, corporate governance and accountancy best
AAFM is the first US based financial professional body to
have achieved partner status with the SETC for nationwide
certification. The SETC will add their own "official
stamp" and certificate to the US issued qualifications
from the Academy. "To have achieved, not only official
government recognition, but also to have entered into a
direct partnership with a government entity is a clear advantage
to our growing membership in the region", said Professor.
Richard Petty, President of the Asian operation of the Academy.
"It gives us the ability to build localized programs
with strong relevance, in addition to boosting our existing
global profile." Director Zhang Jiang of SETC's Training
operations added, "Improving China's financial management
and corporate governance is a key goal of our department.
We believe that this initiative will further strengthen
our nation's capabilities and global competitiveness."
"World class standards, strict membership requirements
and high level involvement from our Chinese partners are
sure to guarantee the success of our programs in China."
Said Dr. George Mentz, President and General Counsel of
AAFM globally. "We will be working hard over the coming
months to ensure strong support for the Academy on the ground
in China, along with activities to further establish our
regional brand in the field of business education and financial
certification." Early this year, the Wealth Management
arm of AAFM launched a series of Financial Certification
programs in Hong Kong, Singapore and Australia.
Founded by US financial services industry experts and the
Academic community in 1994, AAFM is the first and only independent
financial membership body to have established direct ties
with the government in China. With a not-for-profit Asian
operations headquarters, the Academy aims at serving China's
economic development and its financial sector by introducing
the latest strategies and knowledge in international financial