Chartered Institute of Bankers Act to be operational by June

The Chartered Institute of Bankers Act, 2019 (Act 991), which was recently assented to by the President, will be fully operational by the second quarter of the year, the President of the Chartered Institute of Bankers, Rev. Mrs Patricia Sappor, has indicated.

When fully operational, she said, the institute would be in a better position to determine the standard of knowledge and skill to be attained by a person who sought to practise banking in the country.

She said it would also help the Chartered Institute of Bankers (CIB) set standards and ensure the observance of ethical standards and professional conduct among members of the banking profession in the country.

Mrs Sappor was speaking in an interview with the Graphic Business on the sidelines of the institute’s thanksgiving service.

“We will soon operationalise the act and when done, everybody in any category working in the banking industry would have to conform to a certain code of ethics.

“We are the custodians of that so there will be a code of ethics that everybody would have to conform to, and we are doing that with the Bank of Ghana and the Ghana Association of Bankers,” she stated.

Review of courses

Mrs Sappor also noted that the institute would be reviewing some of its courses to reflect the changes in the banking industry.

“We are in a digital environment so our courses and educational programmes will focus and be aligned with the technological changes and expectations of the banking industry.

“We are restructuring our courses and having modules, enriching them with corporate governance and environmental risk management,” she noted.

Thanksgiving

Mrs Sappor said the thanksgiving service was to show appreciation for the amazing successes the institute had chalked up over the past years, particularly in the year 2019.

“In spite of the challenges in the banking sector in the year 2019, CIB had great success stories that give us cause to be exceptionally grateful to God. Among the numerous achievements of the Chartered Institute of Bankers, Ghana was the passage of the Chartered Institute of Bankers Ghana Act, 2019 (Act 991) which received the assent of the President of Ghana on June 27, 2019.

“During the year, as always, we successfully conducted two examinations and graduated over 150 new ACIBs. These are monumental milestones in the history of the institute and we know it is the hand of God that made them possible.

“Our 2019 Annual Bankers Week Celebration was a success. The election of our new council members went on smoothly. As I welcome our new council members on board, I look forward eagerly to working with you all for the progress of our beloved institute,” she said.

Still work to be done

Mrs Sappor said despite the successes, there was still work to be done and, therefore, urged all the members to come together to accomplish the task ahead.

“It is with this belief that we look forward to 2020 with confidence and a deep sense of appreciation of the tremendous opportunities ahead of us,” she said.