CIBT and DeVry Subsidiary to Offer Chartered Financial Analyst Programs in China
CIBT Canadian Institute of Business & Technology Corp. (“CIBT”), a subsidiary of Capital Alliance Group Inc. (TSX-V:CPT) and a leading business school providing academic degree and information technology training programs in China, has signed an agreement with Becker CPA Review Corp., a subsidiary of DeVry, Inc. (NYSE:DV) which does business as Becker Conviser Professional Review, to deliver Chartered Financial Analyst (“CFA”) training in China. DeVry is one of the largest publicly held education companies in North America, serving over 92,000 students at 250 locations around the world.
Under the terms of the agreement, CIBT is authorized to deliver the Chartered Financial Analyst (CFA), Certified Management Accountant (CMA) and Certified Public Accountant (CPA) preparatory coursework throughout Mainland China.
Since 1989, China’s financial sector has grown tremendously, increasing its assets by approximately US$2.7 Trillion. Foreign direct investment into China has soared to over $50 billion dollars in the past year and recently 50 investment firms with $40 billion under management founded the China Venture Capital Association. This dramatic and continued growth in China’s financial sector has resulted in a steadily increasing demand for Western trained financial specialists such as CFAs, CMAs and CPAs.
Sponsored by the Association for Investment Management and Research, the CFA exam is a globally recognized standard for measuring the competence and integrity of financial analysts. The CFA designation is well known as the most prestigious and rigorous professional certification related to money management, financial analysis, and portfolio management.
“The addition of these preparatory courses for financial examinations to our business school only represents the beginning of our professional program initiative,” said Toby Chu, CIBT president and CEO. “We are very proud to partner with Becker Conviser, a leading provider of professional review courses with a distinguished 45-year track record. We look forward to significantly expanding CIBT’s market share in the future by adding other professional designation and career development programs.”
“We’re pleased to join with CIBT to further expand Becker Conviser’s international presence to Mainland China,” said Daniel Hamburger, executive vice president of DeVry Inc. “With the increased demand for Western professional credentials, we believe the Becker methodology will be of value to those preparing for these examinations.”
About Becker Conviser Professional Review
The largest provider of certified public accountant exam review programs in North America, Becker Conviser Professional Review offers preparatory coursework for professional certification exams in more than 250 classroom locations around the world, as well as online and via CD-ROM. The parent company, DeVry Inc. (NYSE:DV), also owns and operates DeVry University. DeVry Inc. and its divisions are based in Oakbrook Terrace, Ill.
About CIBT
Formed in 1994, CIBT has established itself as a prestigious institution of higher learning. Through its subsidiary, CIBT School of Business, comprising three campuses in Beijing, China, CIBT Canadian Institute of Business and Technology Corp. delivers foreign academic degree programs, career training and IT training solutions to thousands of students and corporations in China. Rated as one of the top ten foreign-owned MBA providers in China, CIBT is among the first institutions in China to receive official approval from the Academic Degrees Committee of the State Council to award foreign MBA degrees. CIBT’s Chinese joint venture partner, Beijing Polytechnic University, is a distinguished member of China’s Project 211, a project representing China’s top 100 institutions of higher education chosen to play a leading role in training China’s high-level manpower for the 21st century. Through agreements with international universities in Australia, Canada, the UK, Switzerland and Thailand, CIBT provides Chinese students and business executives the opportunity to study abroad. Major sponsoring corporations of CIBT’s training programs require KPMG, Ford Foundation, and Bank of China International.
On Behalf of the Board of Directors of CIBT.
Toby Chu
President and C.E.O
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