Bankers need to be better versed in technology, regulations: Wathra

Ashraf Mahmood Wathra, Governor State Bank of Pakistan (SBP), said Monday that bankers now also need to be better versed with technology, regulations, and risks irrespective of which part of the bank they work.
Addressing the gold medal distribution to IBP's Superior Qualification (ISQ) position holders and the launch of eILM (IBP's eLearning Management) portal ceremony at Institute of Bankers Pakistan (IBP), he said the recent changes in banking business requires bankers not to be only product and customer focused, but to extend the banking facilities to every segment of society.
He said the changes and the transformation that has taken place during the last 2 years, has positioned IBP well to be a partner and learning solutions provider to banks. "IBP's products are world class and it has demonstrated an ability to respond effectively to the bank needs. I would urge the banks to interact more closely with the institute and benefit by make greater use of its products and services," he added.
The Governor SBP said the objective of a professional qualification in any industry is to ensure that individuals working in the industry excel in their job performance by providing satisfactory and need-based services to their customers. Professional qualifications are a basic requirement to be able to work in many industries as this helps in realizing their full potential; however, for the banking industry the ISO qualification still remains voluntary, he added.
"In the age of digital transformation, eLearning has acquired a pivotal role in adult learning as it gives flexibility to the trainees of engaging in learning activities over the Internet from offices, homes or anywhere else," he said. In the fast-paced world of e-learning, the available technologies would make a course new and exciting and always changing. The course contents can and should be updated quickly to give students the very latest information, governor SBP said and added that with the commitment of the Institute, it gives me confidence that eLearning would be the preferred mode of learning for the banking sector of Pakistan in times to come.
The ISO qualification prepares the candidates to manage all sorts of risk inherent in banking business be it in credit, investment, operation, market or liquidity. Given that we now have a high quality internationally accredited qualification it may be time to consider making this a base line requirement for progress in the banking career, Wathra said.
He said that the IBP is the only professional training body for the banking industry in Pakistan and it is over sixty years old and has trained many illustrious and successful bankers in its history. About a year ago IBP's Council decided to invest in transforming the Institute into a relevant, contemporary, world class organization which could deliver the learning needs that were emerging rapidly.
Based on this mandate, tremendous work has been done to transform the IBP's products, its people and interaction with the industry to enhance its overall image within the banking community, he said. "I was pleased to note that IBP launched Certified General Bankers (CBG) program to provide fully trained graduates to the banks successfully. First batch of the CBG program consisting of 138 candidates are in the last leg of practical training at various banks and most the candidates have been employed by the banks even before the completion of their training," he added.
It is also good news that IBP will start Certified General Bankers Program specifically for microfinance bank to meet the growing demand of trained staff at the entry level and this will help microfinance banks to spread their branch network in every nook and corner of Pakistan, the SBP governor said.
Earlier, in his address of welcome, Hussain Lawai, Chief Executive IBP, said that I feel truly privileged to be associated with this historical knowledge sharing institute formed 6 decades ago to impart quality trainings, certifications and qualifications to contribute towards the growth and development of human resource working in the banking and financial sector.
He said the IBP's Superior Qualification (ISQ), previously known as DAIBP, is a well-known qualification in the financial sector of Pakistan and abroad. The institute's qualification has been the first choice of bankers who want to attain knowledge and skill set to progress in their professional banking career, he added.
Lawai said the qualification is well recognized by banks as well who reward their employees with promotions as well as financial rewards. He said recently, IBP in collaboration with other partners organised Pakistan Banking Awards 2016, which was a mega event that provided the platform to recognize the best performing banks in various categories, such as Islamic banking, small and medium enterprises, customer services, corporate and investment banking and above all the best bank of Pakistan.