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| Sunday, 3 October 2004 |
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| News Business Features Editorial
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IBSL achieves much in 40 years By Nandana S. Talagune Having started in 1964 the Institute of Bankers of Sri Lanka (IBSL) celebrates its 40th anniversary this year. During the past four decades of its existence it has been able to emerge as the premier institute for training and educating banking professionals in Sri Lanka and is gearing towards its vision of achieving excellence in the region. History of the Institute December 16, 1963 marked a turning point in the history of Lanka's banking sector, for it was on that day a historic meeting took place at the Central Bank of Sri Lanka (then Ceylon) under the chairmanship of then Deputy Governor D. C. Gunasekera which gave birth to an institute for training and educating banks' employees in the island. It was named as the Bankers Training Institute (BTI) which began its actual functioning in late January 1964 by commencing short-term courses for selected group of employees from each bank. These short-term courses were initially conducted in English and Sinhala by a panel of lecturers selected from competent officers of the banks. The principal factor that led to the creation of the BTI was the two leading commercial banks namely the Bank of Ceylon (BOC) and the People's Bank (PB) along with the private banks that were engaged in the process of rapid expansion and thus in need of training as quickly as possible, the large number of recruits. With the gradual gaining of recognition and establishment its activities too were expanded to conducting training programmes and banking examinations in all three languages at several different locations. The examinations were conducted at two different levels (ie. Intermediate and Final Examinations) 15 years after establishment In 1979 BTI was incorporated as Institute of Bankers of Sri Lanka (IBSL) under Act of Parliament No. 26 of 1979. This was another significant step the Institute took further in the expansion program driven by its clear mission to achieve its vision through the following objectives as stated in the Section 3 of the Act of Incorporation. "to provide instructions and training for employees of banking institutions and for employees of the Central Bank of Sri Lanka in the study of the theory and practice of banking and of related subjects and for such purpose to provide all facilities including lectures, discussions and library facilities; to conduct examinations and issue certificates to those who are successful in such examinations; to facilitate and encourage discussions on matters of interest to bankers; and to take such measures as may be desirable to further the interests of banking". In keeping with the principal objective the Institute offers four major professional qualifications in addition to variety of courses and training programmes. They are the BSc Degree with Honours, the Certificate in Banking and Finance (CBF), Advanced Certificate in Banking and Finance (ACBF) and Diploma in Banking and Finance (DBF). The link up with the Chartered Institute of Bankers (London) in 2000 is another significant achievement for the Institute. It gives further endorsement for the standard maintain and achieved by the Institute since inception. As the certificates are signed by the CIB (London) and IBSL jointly while the DBF qualified candidates will get the opportunity of reading for the BSc. Honours Degree in Financial Services of the University of Manchester Institute of Science and Technology. A large number of school leavers and employees from non-banking sector have the access to the opportunity of obtaining an internationally recognized professional qualification in Banking and Finance at home. And thus the demand for enrolment at the certificate level continues to remain high. According to last year's statistics 1432 Bank and 770 non-Bank candidates were registered for the CBF. COBF as income generating organ of the Institute. The College of Banking and Finance (COBF) established in 1995 functions within the framework of IBSL. It conducts the Institute's courses according to a scheduled program calendar every year and thus delivers a wide range of short and medium term professional courses. The latter include diplomas in information technology, business management, treasury investment and risk management and credit management apart from seminars, workshops specially planned for senior and middle management levels. Membership In 1964, the Institute then known as BTI had started with a membership of around 900. It in 1989 had risen to nearly 19,000 of which around 6,000 students had sat the Institute's examinations. In 1994 total membership increased to 24,630 in the course of the year ending March 1994. And around 5000 candidates sat the Intermediate and Final Examination. In 2003, the membership has risen to nearly 28,000 with active membership of 6628. Bankers Journal With the increase in membership and student population of the Institute an important decision was taken in 1981. That was to strengthen the communication medium between the Institute and its members. The medium was the journal the Institute had launched. At the beginning it was named the Journal and published half yearly. Subsequently it was changed to Bankers Journal and at present is published quarterly. Conclusion IBSL, over the past 40 years has come a long way and has a long way to go as well, which the Institute has clearly understood by recognizing the responsibilities it has to shoulder as a premier institution. It not only made its vision a reality as the premier institute in Sri Lanka at the time of its 40th anniversary but also set a new vision to go beyond the national boundaries to become the premier in the region. This, the Institute will hope to achieve in the same way it did achieve earlier. It is the "service in silence" with dedication, determination and devotion. (The writer is Manager Publications and Publicity of the Institute). |
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