The Institute of Bankers, Bangladesh
| Abbreviation | IBB |
|---|---|
| Formation | 6 February 1973 |
| Type | National Professional Banking Body (Semi-Government) |
| Purpose | Conduct Banking Professional Examination in 08 (eight) divisions nationally (2 times a year) to develop world class professionals in banking and financial sector |
| Headquarters | DR Tower(Lift-12), Box Culvert Road (Dainik Bangla), Purana Paltan, Dhaka, Bangladesh |
| Location | |
Region served | Bangladesh |
President | Honorable Governor (Bangladesh Bank) |
Vice President | CEO and Managing Director, Sonali Bank PLC |
Secretary-General | Ms. Laila Bilkis Ara (Retired Executive Director, Bangladesh Bank) |
Secretary | Mr. Shaikh Jahangir Hossain (Director, Bangladesh Bank) |
| Website | online |
The Institute of Bankers, Bangladesh (IBB) is the national professional banking body of banks and nonbank financial institutions (NBFIs) in Bangladesh solely in terms of conducting Banking Professional Examination (BPE) which is mandatory for all professionals (Banks/ NBFIs) for job promotion. It is managed as an autonomous professional body (Semi-Government) under the control and supervision of Bangladesh Bank.[1]
History[edit]
The Institute of Bankers was registered on the 6 February 1973 as an association under the Societies Registration Act, 1660 (Act No. XXI of 1660).[2] Before that some eminent bankers and other professionals decided, in a meeting held on 26 July 1972, to establish the institute as a professional body of banks and financial institutions in Bangladesh. The main objective of the body is to develop professionally qualified and competent bankers primarily through a process of training, examinations and professional development programs.[3]
On 8 February 2023, Bangladesh Bank has issued a circular stating that passing banking professional examination both parts (JAIBB & AIBB) is mandatory from 1 January 2024 for all bankers to get promoted to any higher grade from senior officer except managing director.[4][5][3] However, many bankers, finance professionals, economists and related personnel expressed mixed reactions to the new circular. Most stated that criteria mandatory diploma pass for getting promotion will rises discriminatory.[6][7]
Functions[edit]
IBB arranges two-tier banking professional examination (BPE) for the professionals in banking and financial sector in the country.[5][4] Applicants have to appear in the Part-I examination, officially named as JAIBB (Junior Associate of the Institute of Bankers, Bangladesh) where every applicant have to pass six compulsory courses. The courses include: Monetary and Financial System, Governance in Financial Institutions, Principles of Economics, Laws and Practice of General Banking, Organization & Management Business Communication in Financial Institutions. After completing Part-I, applicants have to appear in the Part-II examination, officially named as AIBB (Associate of the Institute of Bankers, Bangladesh) where every applicant have to pass five compulsory courses named Risk Management in Financial Institutions, Credit Operations and Management, Trade Finance and Foreign Exchange, Information and Communication Technology in Financial Institutions, Treasury Management in Financial Institutions and one optional course from eight choices named Accounting for Financial Institutions, Agriculture & Microfinance, Sustainable Finance, Shariah Based Banking, Investment Banking, Management Accounting, Marketing and Branding in Financial Services, Financial Crime and Compliance.[8] After completing every part, every applicant is awarded with a certificate.
Governing body[edit]
A Council or Parishad (Consisting of 30 memebers; all are from deputy governors and Managing Directors (Running/ Ex) of all Banks/ NBFIs) governs the institute. The president of the council is the Honorable Governor of Bangladesh Bank. The Vice-President is the CEO & Managing Director of Sonali Bank PLC, the largest state-owned bank operating in Bangladesh. The Chief Executive Officer/ Secretary-General of IBB will be appointed by the Council for 02 (two) years on contractual basis. Besides, a secretary (deputation from Bangladesh Bank equivalent to `Director' rank) is responsible for the overall management of the organization. Currently, Ms. Laila Bilkis Ara (Retired Executive Director of Bangladesh Bank) is serving as the secretary general of the institution.[9] Director of Bangladesh Bank named Mr. Shaikh Jahangir Hossain is acting as secretary for management of the institution.
Membership[edit]
Generally, the CEOs and Managing Directors of banks and nonbank financial institutions (NBFIs) working in Bangladesh are members (Currently 98 Members) of the institute. However, the council or parishad has the solo right to elect new member and remove existing members.[10]
See also[edit]
- Bangladesh Institute of Bank Management
- The Institute of Chartered Accountants of Bangladesh
- Bangladesh Association of Banks
References[edit]
- ^ "The Institute of Bankers, Bangladesh". Retrieved 2023-02-12.
- ^ "The Institute of Bankers, Bangladesh » Activities". Retrieved 2023-02-13.
- ^ a b "Banking diploma must to become senior officer: Bangladesh Bank". Prothom Alo. Retrieved 2023-02-13.
- ^ a b "Banking diploma must for bank officers' promotion". New Age. Retrieved 2023-02-12.
- ^ a b "Banking diploma made mandatory for bankers' promotion". The Daily Star. 2023-02-08. Retrieved 2023-02-13.
- ^ "Mixed reactions as diploma made mandatory for promotion of bankers". The Business Standard. 2023-02-08. Retrieved 2023-02-13.
- ^ Uddin, AKM Zamir (2023-02-12). "'Rules on compulsory diploma discriminatory'". The Daily Star. Retrieved 2023-02-13.
- ^ "The Institute of Bankers, Bangladesh » Regulation & Syllabus". Retrieved 2023-02-13.
- ^ IBB, The Institute of Bankers, Bangladesh. "List of Secretary Generals of the Institute" (PDF). www.ibb.org.bd.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ "The Institute of Bankers, Bangladesh » Membership". Retrieved 2023-02-12.