The Chartered Banker Institute and The Indian Institute of Banking & Finance (IIBF) are delighted to announce that they have signed a groundbreaking new Mutual Recognition Agreement.
The Chartered Banker Institute and the IIBF, which is the world's largest banking institute, with more than 750,000 ordinary members, have come together with the aim of improving the international education and career opportunities for bankers and financial services professionals worldwide, by improving their qualifications and understanding.
Under this agreement, "Certified Associates of the Indian Institute of Bankers" (CAIIB) from India will have their qualifications recognised by the Chartered Banker Institute, and will be able to become Chartered Bankers by studying the Institute's Professionalism, Ethics & Regulation module, and successfully completing a reflective assignment.
With the experience gained from working together to recognize the CAIIB qualification, the Institute and IIBF will further discuss working together to align both bodies' qualification frameworks to provide mutual recognition for members wherever possible, facilitating easier movement of qualified bankers between India and the UK.
Simon Thompson, Chief Executive of the Chartered Banker Institute commented:
"It is a great honour for us to be entering into this historic agreement with the world's largest banking institute, the IIBF. This shared commitment to better education, to increased professionalism and to working to restore public confidence in our profession is why both our Institutes have come together in this way.
This is great news for our respective members and students, as it improves their career prospects. But it is even better news for the public, who want to see better educated, better qualified, more professional banking and financial services staff"
Dr Jibendu Misra, Chief Executive of the IIBF added:
"It is a significant agreement for both the Institutes as the need for enhancing and sustaining professional standards in banking, is increasingly being felt. Developing human capital on which, banking ultimately is built, has been the core principle of Indian Institute of Banking & Finance and the Chartered Banker Institute.
The partnership with the oldest professional banking institute in the world, the Chartered Banker Institute, gives our members an opportunity to get a wider and global perspective. This would enable them to develop professionally and advance in their careers."