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The 2020 GIPS standards expand upon the last comprehensive update in 2010 and incorporate authoritative guidance issued in the interim.
Mr Sulaiman explained that GIPS provides wealth managers with a standardised methodology of performance measurement and reporting that is consistent with global practices of some of the best asset managers.
Globally, more than 1,700 firms have adopted the GIPS standards in 45 markets around the world.
Member of Parliament for Gaborone North, Mr Haskins Nkaigwa had asked the minister if he was aware that courses offered by GIPS Phakalane were not accredited by BQA.
Ghanem Al-Ghanem, president of the CFA Society Saudi Arabia and member of Saudi Arabia GIPS country sponsor committee, said: "This is an exciting time for us as Jadwa Asset Management is the first domestic asset manager to claim compliance."
Following the release of new guidance from GIPS in January, we expect to see the trend for asset owners to adopt GIPS standards gaining momentum across the industry.
Investors can better rely on the performance presentations given by GIPSA(r)-compliant firms, because claiming compliance with the GIPS standards demonstrates a firm-wide commitment to ethical best principles of fair representation and full disclosure and guarantees that the firm employs strong internal control processes.
When the acceptance period expired at 17:30 CET on 25 June 2010, a total 29.2m shares, or some 90.2% of the issued and outstanding shares in GIPS had been tendered.
The Google offer is priced at NOK13 apiece in cash and values GIPS at NOK421m.
The success of the offer, to expire on 4 June 2010, is conditioned upon Google receiving acceptance from GIPS shareholders equal to at least 90% of the company's issued capital.
The company said that GIPS VideoEngine Mobile supplies iPad developers with a simple to integrate, high-level software API that contains the complex video conferencing/video chat capabilities into applications running on Apple's iPad operating system.
Global IP Solutions (Oslo Bors: GIPS), the leading provider of IP multimedia processing solutions, has announced that Argela Technologies, a subsidiary of Turk Telekom, Turkey's leading telecom provider, has integrated GIPS VoiceEngine(TM) Mobile to ensure excellent call quality on its TT WiRO calling service.
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