Dear Colleague,

At the recent World Conference of Banking Institutes hosted by The Chartered Institute of Bankers of Nigeria, banking institutions representing more than 20 countries launched the Global Banking Education Standards Board (GBEStB). The GBEStB is a voluntary, industry-led initiative which aims to develop clear, internationally agreed standards for the education of Professional Bankers ("Professional Banker" is a term that signifies "individuals subscribing to the relevant education programme(s) of a GBEStB member organization.") These standards will inform the development of national banking education programmes delivered by banking institutes, and others providing the foundation for high-quality and robust education and qualification of bankers. This is our strategic intent which should, ultimately, enhance and sustain global standards of ethics and professionalism in banking worldwide.

There are several reasons for setting these education standards for bankers at this time. Firstly, the financial crisis of 2007-2009 brought increased regulation (including new capital and liquidity standards) and compliance at global, regional and national levels. In addition, the advent of FinTech and other new technologies have introduced new ways of banking that challenge traditional approaches. Finally, the level of professionalism of bankers today has been sorely challenged by scandals and questionable, unethical behaviour. All these factors point to a need to raise the standard of education of bankers globally.

The GBEStB has established the Education Standards Committee to develop initial standards for banking education. As it begins its work, the Committee is keen to have the perspectives of regulatory bodies, standard setters, policymakers, employees of financial institutions, educators and other key stakeholders. We would, therefore, greatly appreciate it if you kindly fill and submit the questionnaire on or before Monday, October 16, 2017.

Simon Thompson

Chair, Education Standards Committee
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