The Ministry of Education and Culture in the British Virgin Islands will host the launch of the new financial services syllabus for the Caribbean Advanced Proficiency Examination (CAPE) this Thursday, November 3.

The launch event will take place at the H Lavity Stoutt Community College on Tortola and starts at 10:00 am.

A statement from Caribbean Examinations Council (CXC), which administers CAPE, explained that the financial services course aims to:

• Promote an awareness of the international importance of the financial services industry;

• Create awareness of the impact of offshore financial service policies on the Caribbean;

• Help students understand the impact of globalisation and the global financial industry on the Caribbean;

• Help students understand the value of the customers and information systems in the financial services industry;

• Develop the capacity for critical thinking, creativity, problem-solving, leadership and management, positive cooperative behaviours, emotional intelligence, entrepreneurial skills and technological competence through authentic learning experiences;

• Integrate information, communication and technology tools and skills.

“Subjects such as financial services and other new- generation CAPE subjects empower persons leaving the education system to contribute immediately to the economies of the region, either with a skill or with knowledge that is applicable to income-generating sectors,” stated Glenroy Cumberbatch, CXC registrar.

“The figures attributed to Caribbean experts demonstrate the relevance and importance of financial services to the Caribbean and this is the direction in which CXC is heading — introducing subjects that are relevant and hold entrepreneurial potential for Caribbean people,” he said.

According to CXC, the Caribbean Export Development Agency ranks the financial services sector as the second-largest contributor to gross domestic product (GDP) in the Caribbean region. In 2011, the financial services sector contributed over 20 per cent to GDP in Antigua and Barbuda, Barbados, Montserrat, St Kitts and Nevis and St Lucia, all countries served by CXC. As a region, the financial services sector contributed 17 per cent of GDP to the CARIFORUM region in 2011.

Lorna Smith, director of BVI Finance, the marketing and promotions arm of the BVI financial services sector, will be the guest speaker at Thursday’s event.