Institute of Bankers of Sri Lanka (IBSL) commences new lecture cycle in Oct.

The College of Banking and Finance (COBAF), the training arm of the IBSL, is ready to commence its new lecture cycle on 8 October, at the IBSL Towers located at No. 80A, Elvitigala Mawatha, Colombo 8 (Borella). This lecture cycle is conducted to prepare students for the Intermediate in Applied Banking and Finance (IABF) and Diploma in Applied Banking and Finance (DABF) examinations to be held in March 2018 island-wide. It covers all 17 subjects in the Applied Banking and Finance (ABF) syllabus. The lectures for each subject cover a total of 60 lecture hours during the period October 2017 to March 2018. 

Further, two lecture programs are offered for students to choose from week-end programs and week-day programs (Wednesday and Thursday) mainly for their convenience. The COBAF has consecutively conducted six lecture cycles with lecturers who are senior executives in banks and financial institutions having theoretical as well as on-the-job knowledge on respective subjects, since the launch of the ABF syllabus in April 2014. A large number of students who attended lectures at COBAF have successfully completed the IABF and DABF with its panel of experienced lecturers who are skilful in transferring knowledge.

Students attending this forthcoming lecture cycle will no doubt find an exciting experience with modern facilities offered by new 12-storey luxury building of the IBSL situated at No. 80A Elvitigala Mawatha, Colombo 8. It has a spacious library with a large collection of new books and journals, reading areas, canteen and a relaxing garden. Its car park has the capacity for 45 vehicles at any time and the location is easily accessible. The DABF qualification is awarded to students at the annual convocation held each year at the BMICH. Its 22nd convocation was held in June this year. For the first time, the IBSL held two convocations in 2017 in view of significantly increased number of award recipients. At each convocation, nearly 1,500 students and members receive various awards including DABF, FIB and AIB and the total No. of attendees is around 3,000. 

The lecture fees for the COBAF lecture cycles are highly affordable, given the facilities and high standard of tuition. The fees are Rs. 6,000 for each subject in IABF and Rs. 7,000 for each subject in DABF for the full lecture cycle. If a student completes both qualifications at first sitting, the total cost of obtaining the DABF qualification will be around Rs. 150,000 inclusive of tuition fees, library facilities, examination fees and subscriptions.

The IBSL has its origin in 1964 with the establishment of the Bankers’ Training Institute (Ceylon) (BTI) promoted and sponsored by the Central Bank and commercial banks. Subsequently on 25 April, 1979, the IBSL was incorporated by the Institute of Bankers of Sri Lanka (Incorporation) Act, replacing the BTI. Since then, the IBSL has been the leading banking and finance training institute in the industry over the past 53 years. While several examinations were held to offer a number of recognised professional qualifications from time to time, the latest examination model launched in 2014 covers Intermediate in Applied Banking and Finance (IABF) and Diploma in Applied Banking and Finance (DABF) by replacing the Certificate in Banking and Finance (CBF) and Diploma in Banking and Finance (DBF). 

The COBAF commenced its own training activities in 1999 and has been offering a large number of regular courses and seminars on subjects of banking and finance. The high recognition of the IBSL in the market is revealed by its training events and membership. Further, the IBSL offers nearly 60 in-house training programs/events annually to meet the growing needs of professional training and qualifications. Nearly 7,000 students and professionals participate in these programs each year at the COBAF. The IBSL’s professional membership includes Associates (nearly 6,500) holding title of AIB-Sri Lanka and Fellows (nearly 200) holding the title of FIB-Sri Lanka.

The functions of the IBSL stipulated in the IBSL Act are as follows:

1.To provide instruction and training for employees of banking institutions and for employees of the Central Bank of Sri Lanka in the study of the theory and practice of banking and of related subjects and for such purpose to provide all facilities including lectures, discussions and library facilities;

2.To conduct examinations and to issue certificates to those who are successful in such examinations;

3.To facilitate and encourage discussions on matters of interest to bankers; and

4.To take such measures as may be desirable to further the interest of banking

The IBSL is managed by a 12-member Governing Board consisting of high-ranking officials of banking industry in terms of the provisions of the IBSL Act. These members include two from the Central Bank of Sri Lanka (a Deputy Governor as the Chairman and an Assistant Governor as the Vice Chairman), four members from Bank of Ceylon and People’s Bank (CEO/ General Manager and a Deputy General Manager from each bank), three members from other banks (at present CEO/ General Manager from National Savings Bank, Sampath Bank and Seylan Bank) and three members elected from the Fellows and Associate members of the IBSL. 

For further inquiries, please contact Sachini/Kavindra Tel: 0112425611, 0112425613, 0774757700; email: [email protected]/[email protected] and visit the IBSL website www.ibsl.lk.