NEWS CORNER... IOB

Things are really happening in a big way at the Institute of Bankers which has now clocked one year in its operations having opened doors to students for its programs in April 2007. The economic gains achieved by the country in the last few years which have spurred some considerable development in the financial sector are also inevitably having a positive trickle effect on the Institute’s activities.

The country is witnessing the mushrooming of new banks and expansion of activities and services by the existing ones. There is also a tremendous growth in the range of products and services being offered by banks as they strive to match the needs of the modern clientele base. As the banks are expanding their services and introduce new products, there is also an increasing need for well trained personnel with specialised skills to help in the attainment of critical institutional objectives.

The is indeed just right for the activities of the Institute of Bankers which is a brain child of the Bankers Association of Malawi in partnership with the country’s central bank, the Reserve Bank of Malawi. The Institute was established to provide professional training programs in banking and other related areas in financial services in order to meet the growing demand for specialised skills by the country’s financial sector.

Since its establishment, the Institute has made some considerable progress. Two professional examinations have so far been administered covering certificate and diploma in banking courses and at total of 192 students have sat for these examinations. It is pleasing to note that the number of students is also growing fast and that the first group of students for the certificate course has completed their studies and those who have done well will soon be awarded prestigious certificates by the Institute in partnership with the University of Malawi.

From October 2008 Semester the Institute will start offering advanced diploma courses in banking and the first examinations for this level of study will be held in April 2009. This is a true testimony that the Institute of Bankers is gaining ground in the country. A number of strategies have been put in place to assist students in preparing adequately for examinations and these include the provision of affluent library facilities where students have access to a variety of books on various topics and convenient study rooms as well as accessing internet facilities.

The good news is that in continuation of their support for the Institute and it study programs, the member institutions including the Reserve Bank of Malawi have pledged to sponsor awards to best students in the various categories of study. This should serve as an encouragement to students to work hard since it shows that the banks are appreciating their efforts. The Institute itself will also be offering an award to the best candidate at each level of study.

It is also important to mention that a lot of students have already started reaping the benefits of studying with the Institute of Bankers in Malawi by securing jobs with the banks even before completing their studies. This is good news to those who are studying as the banks are demonstrating their preparedness to accommodate those who will be studying with the Institute in their employment cadres.

There are therefore good prospects for those studying with institute to secure some form of employment after qualifying particularly when one bears in mind that new banks are being established and most of the existing ones have embarked on expansion programs. This is an opportunity that should definitely not be missed.

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