IBSL to introduce Diploma in Micro Finance

The Institute of Bankers of Sri Lanka (IBSL), the premier professional educational Institute in banking and finance will introduce a Diploma in Micro Finance in collaboration with the Frankfurt School of Finance and Management, said Vice Chairperson IBSL Mrs Rose Cooray. She is also an Assistant Governor of the Central Bank.

This is among the major positive steps taken by the IBSL last year to equip the students to face the challenges in the global and local financial markets.

The 13th annual convocation of the IBSL will be held on October 24.

The Chief Guest will be the Deputy Vice Chancellor (learning and teaching) Northumbria University UK Prof. Craig Mahoney while the Guest of Honour will be Deputy Governor CBSL Dr. Ranee Jayamaha.

At this year's convocation IBSL will award around 367 certificates, gold medals diplomas and cash prizes and certificates.

Mrs. Cooray told the Sunday Observer that globally as well as locally the financial sector is facing challenging times and at all times the IBSL prepares the students to face challenges.

"We at IBSL always explore the needs of the financial sector, which is very dynamic and ever changing and caters to those needs.

In addition to conducting classes to prepare students for banking examinations such as CBF and DBF, IBSL also organises one-day seminars on current topics, which are relevant to the financial industry and are of high demand among professionals not only in the financial sector but also outside the industry.

She said that the tie-up with the School of Finance of the Institute of Financial Services (IFS), formerly known as the Chartered Institute of Bankers London is another significant achievement to gain international recognition for IBSL qualifications.

The qualifications of IBSL and IFS are recognised by each other on a reciprocal basis, while the question papers and answer scripts are evaluated and sent back while the marking of answer scripts is evaluated by them.

Mrs. Cooray said that IBSL qualifications are certified jointly with IFS which makes it a highly recognised qualification for banking, non-banking financial institutions and other leading employers.

The Northumbria University in partnership with the IBSL provides degree pathways to obtain bachelor's and masters degrees. She said that it was a unique opportunity for IBSL students to obtain dual professional and academic qualifications with an international recognition.

The Northumbria University based in Newcastle UK maintains a reputation as one of UK's best modern universities and is proud of the quality of teaching.

Mrs. Cooray said that a student who completes the ACBF or the DBF can proceed to the University of Northumbria and sit for the final year of the BA (Hons) in Finance and Investment Management or a BA Hons in Business and Finance. A student who completes the DBF can proceed to do an MBA at the University of Northumbria.

She said that a student who goes to the UK for one year of study gets a two-year work permit while IBSL students are given a 1,000-pound scholarship. To be eligible for higher studies the student should be willing to learn and expand their horizons.

She said that a student who sits for the first examinations in his/her native language are given special training in English so that they can sit for the Diploma examinations in English.

The Bankers Training Institute (BTI) was set up in January 1964 to cater to the growing needs of the banking sector by conducting short courses for selected groups from banks were conducted in English and Sinhala.

As the BTI gained recognition its activities expanded and the institute commenced training programs and banking examinations in all three languages at two levels ie intermediate and final examinations.

In 1979 the BTI was incorporated as the Institute of Bankers of Sri Lanka (IBSL) under Parliament Act No. 26 of 1979.