After A/L’S join IBSL to get a Professional Qualification and a Degree

An interview with Director General of IBSL, Mr. S.H.A.M. Abeyratne

Q: Can you give a brief introduction to what is IBSL?

A: The Institute of Bankers of Sri Lanka (IBSL) has earned the distinction of providing the required competency developments for the banking and the non- banking sectors for more than 47 years.

Established in 1964 and incorporated under an Act of Parliament in 1979, the diploma and certificate qualifications offered by IBSL are recognized locally as well as globally.

As a government-backed organization, IBSL has been able to diversify its activities by introducing certificate courses, diploma programs, workshops, seminars and skills development programs important for the banking and finance sector over the past four decades.

The client base of IBSL is 42,000, comprising students, associate members, fellow members and honorary fellows. The active membership is around 25,000. We conduct two examinations per year, March and September. In one cycle, approximately 15,000 students sit for exams. This shows that as a professional institution, IBSL caters to a wide section of people in the country.

Q:

What are the new developments?

A: Education is one of the fundamentals of one’s achievement and success. Parents as well as students are conscious of new developments in professional education in Sri Lanka. The common understanding is that they should require appropriate qualifications in order to find a job or to migrate overseas.

For this purpose, they look for recognized qualifications offered by the government or overseas institutions and they consider that they could acquire this qualification within a short period provided professional organizations are ready to deliver and equip them on standards and qualifications. In that context, IBSL is a government-backed organization. IBSL qualifications are recognized locally as well as overseas.

The completion of IBSL diploma and certificate courses will not take a longer period and the cost involved in these studies are comparatively low. Therefore, the new development seems to be that a lot of students want to acquire an IBSL qualification and ensure their employability.

Another interesting development at global level is that most of the developed and high middle income economies the demand from the Banking and Finance sector is not for tellers and bank clerks, but for professionals with multi skills. In order to cater to this new trend the IBSL has also provided opportunities for its students to acquire not only professional qualifications but also academic qualifications through its accredited universities in the United Kingdom. This broader perspective has given rise to an increase in student registrations at IBSL.

In the past two years, there was a significant increase in student registrations due to a number of reasons. The Banking and Financial sector in Sri Lanka is growing rapidly at present. Therefore, banks are looking for qualified young blood for recruitment and to carry out their business effectively.

With the North and East postconflict situation, new business activities have been launched in the two provinces, which in turn demands financial services. Most school leavers, particularly students from rural areas, look for job opportunities in the urban sector. As the banking industry is growing, the perception is that they could be able to get into service related jobs in financial institutions. In that context acquiring IBSL qualification is crucially important for those who look for jobs in the Bank or Financial institutions.

Why it is important for school leavers or non bankers to acquire an IBSL qualification?

Statistics in recent years indicate that nearly 60% of new students registered were school leavers. This is a new trend. We conducted a survey to ascertain why the trend had changed from bankers to non bankers. It was found that most of the students who are unable to enter university had selected another pathway to become qualified with a degree in banking within a short period.

The understanding is quite correct because if a student starts to study the IBSL certificate in banking or finance course within six months to twelve months, he/she can complete the CBF and can commence the diploma level in the second year. Once they complete 50% of the diploma program, they can enroll for the final year honors degree program at Northumbria University, UK to read for the honors degree in leadership and management and business management. At the end of the degree program, students can earn both the professional and degree qualifications.

Any employer in the financial sector would be delighted to recruit this kind of multi- discipline candidate to their organization.

Q: What is the approach of the IBSL for current demand?

A: looking at the recent trend, especially the expectation of the Sri Lankan parents and the Employers of the Banking and Financial sector, IBSL has now taken a number of steps to offer Degrees.

One such approach is that those who possess partial qualification of DBF could enroll to final year Hons degrees in Leadership & Management and Business & Management in Northumbria University UK. Diploma holders also could proceed with Master degree if they like.

In addition IBSL now in the process of preparing to offer Hons Degree in Banking Practice and Management for those who completed DBF, in collaboration with ifs UK. This programme would launch towards the end of the year 2012.

Another important opportunity for our students is the Hons degree in Banking and Finance offered by the IBSL. For this we have applied for degree awarding status from the UGC. They have investigated our capability and it is very likely we get the degree awarding status this year.

This new move is an excellent opportunity for school leavers to equip with required qualification to become marketable in the job market.

Another good news is that IBSL awards Gold medals and Special prices to its outstanding students at the annual convocation. For those students, now we are trying to get job opportunities in Banks. The process is now being considered by the relevant authorities.