Trade body the International Capital Markets Association has expanded its 2022 scholarship programme, offering sponsorship to individuals in developing countries across Africa and Asia.

The trade association said on Wednesday it has extended its latest scholarship programme to 35 places from 25 last year, offering individuals in Africa and Asia access to a range of ICMA diplomas.

The scholarship programme is open to individuals aged 19-30 based in Ethiopia, Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, Uganda, Zambia or Zimbabwe.

The expansion of the 2022 programme also sees scholarships being made available for the first time to individuals in India, Malaysia, Mongolia, Philippines, Indonesia, Thailand and Vietnam.

ICMA said it has been active in these countries trying to develop local repo markets, working with development institutions such as Frontclear in Africa and the Asian Development Bank in Asia. The scholarships provide an opportunity to study for one of the following courses: the ICMA Diploma in Debt Capital Markets; the ICMA Diploma Securities & Derivatives; or the ICMA Diploma in Financial Market Operations.

Each diploma pathway includes taking the prescribed foundation and advanced level courses along with two specialist courses and/or ICMA workshops. This executive education programme is delivered in partnership with the ICMA Centre, Henley Business School, University of Reading. All the courses which make up the diplomas can be studied online over 12 months as a mix of self-study and virtual classroom programmes, and they include online exams. The ICMA scholarship will fully cover the course and examination fees for the relevant Diploma.   For information on the eligibility criteria, how to apply and the selection process, please view the ICMA Scholarship Programme page. The deadline for submissions for the 2022 intake is January 15 2022.

ICMA said in July it was working with fellow trade bodies and REGnosys to extend the Common Domain Model (CDM) to include repo and outright bond transactions.