Yep, that is exactly how it is in the US as well. Each Individual may vary, but the general thrust of their education is as you said, psychiatrists are generally med focused (technically they complete med school and then specialize in psych) and psychologist completes grad school (PhD. or PsyD.) with the focus on psych and learns a bit about meds (since they are likely a big part of the picture for some patients). Psychologist generally can’t prescribe meds (though there are some contexts where they can) and psychiatrists often don’t do therapy (though again exceptions exist). BOTH can and do give official diagnoses, though many healthcare systems are set up with psychologists (or other mental health providers LMFT, LCSW, Etc.) seeing and diagnosing first, with psychiatrists reviewing diagnoses only if prescribing meds.
Another poster mentioned needing a psychiatrist for official diagnoses, and that is false in the US.
That’s a good clip, well worth the very short time needed to watch it.