CIMA and Association of Professional Bankers – Sri Lanka in strategic collaboration

The Association of Professional Bankers – Sri Lanka (APB) and The Chartered Institute of Management Accountants (CIMA) have entered into a collaborative agreement with the aim of creating value to the members of APB and the banking sector. 

The partnership focuses on strategic initiatives to support and develop human capital in the banking sector. The agreement was entered into by APB in line with one of the Association’s main objective of promoting and facilitating studies in the field of banking and allied subjects within and outside Sri Lanka.

Accordingly, now both APB and CIMA will work together to develop a strategic development program for senior leaders in financial institutions through CIMA’s thought leadership and international faculty. 

CIMA will also provide exclusive access to its digital learning solutions through the APB to all members of APB and banks in Sri Lanka. These learning solutions are structured around various topics ranging from application of block chain in financial services, Islamic finance, accounting and finance, data analytics, strategy and soft skills such as leadership and negotiation. These well researched and structured professional development programs will allow members to harness contemporary business skills and competencies required in today’s rapidly transforming digital world. 

APB, Sri Lanka’s foremost representative organisation of banking professionals was established in 1988 with the aim of functioning as a forum for the banking fraternity to enhance knowledge, discuss developments in the profession and on business in general. 

Banking and finance industry being a key contributor to the economic development of the country, APB has always taken an active role in ensuring the greatest value- be it in terms of knowledge or support is provided to their membership. This strategic agreement with CIMA was established in line with these primary objectives of APB. 

The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world’s leading and largest professional body of management accountants. CIMA helps individuals and businesses to succeed by harnessing the full power of management accounting – not just accounting for the balance sheet, but accounting for business. The CIMA curricular is constantly revamped to suit the present needs of businesses and the future trends. 

In 2017, The Association of International Certified Professional Accountants (AICPA & CIMA) was formed, combining the strengths of The American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 650,000 members and students in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, The Association of International Certified Professional Accountants advances the reputation, employability and quality of CPAs, CGMA designation holders and accounting and finance professionals globally.

Commenting on the agreement, Association of Professional Bankers – Sri Lanka President Aruna Fernando stated: “This is a historic occasion for APB which is on the way to get itself incorporated through an Act in Parliament. APB’s main objective is to enhance the professional skills of its members and the other bankers at large and through this partnership agreement APB will be in a position to provide learning opportunities for the Sri Lankan bankers on key areas at very competitive rates from a world renowned professional body.”

CIMA in Sri Lanka Country Manager Zahara Ansary ACMA, CGMA stated: “We are pleased to collaborate with the Association of Professional Bankers (APB) of Sri Lanka. We look forward to supporting APB members and the Sri Lankan banking sector with the cutting-edge training and certifications available via CIMA through The Association of International Certified Professional Accountants. These would vary across key areas including business and finance, people and leadership as well as digital skills, which are essential to build successful careers and transform organisations. Through our collaboration, members will be able to acquire the knowledge and competencies they need to transform Sri Lanka’s banking sector.”

The agreement was exchanged at the APB Research Symposium 2021 organised by the Association of Professional Bankers on 22 March at the Hilton Colombo.