More than 400 bankers with local and international certifications
The Banking and Financial Institute (IBF) celebrated the graduation of more than 412 financial professionals at an event attended by the Governor of the National Bank of Cambodia (NBC), Chea Chanto, the chairman of the Cambodian Banks Association (ABC), In Channy and Cambodian Microfinance Association (CMA) President Kea Borann. The event took place at the Sosoro Museum in Phnom Penh, which is Cambodia’s Museum of Economics and Money.
The ABC established the IBF in 2004 with the help of the Mekong River Private Sector Development Facility, the Asian Development Bank and the ASEAN Bankers Association, with the support of the NBC. It was established to train members of the ABC and CMA of commercial banks, specialist banks and microfinance institutions in Cambodia to international standards, but at affordable prices.
The institute is supported by a volunteer board of directors that represents the entire Cambodian financial sector, with members from NBC, Maybank, Vattanac Bank, CIMB Bank, CAMMA Microfinance, AMK Microfinance, Westline Education Group and Cambodia Microfinance Association. The vision of the institute is to build sustainable finance through capacity building.
It has four stated objectives: to improve corporate governance, to raise local standards in line with international best practices, to standardize banking practices and to educate the public on sustainable financing.
It offers internationally recognized courses in areas such as compliance, corporate governance, credit, human resources, internal audit, IT, risk, trade finance and treasury, as well as local compliance and credit courses as well as online courses.
The objective of the IBF certification is to equip the personnel of the banking and financial industry with professional skills and to teach them local and international good practices as well as the latest developments in the banking and financial field.
“Participants in IBF-organized programs enjoy IBF’s status as an industry-wide educational organization, which enables the institute to leverage on behalf of the industry to working with international professional providers ensuring that the quality of education offered to Cambodian banks and the financial sector is of the same quality as other countries which use the same providers ”, said Chea Kagnarith, Managing Director of the ‘IBF.
Some 40 percent of graduates studied for four to 12 months, using a curriculum developed by international organizations including US Moody’s Analytics, London Institute of Banking and Finance, US-based International Finance Corporation , the UK International Compliance Association, the British Standards Institute, the ICC Academy in Singapore and the Frankfurt School of Finance and Management. International organizations have partnered with regional banking institutes, allowing the local banking sector to receive the same curriculum, trainers, and certifications as other countries.