HKIB appointed as a professional qualifications assessment agency for the banking sector

By Edil Corneille

The Hong Kong Institute of Bankers (HKIB) has been appointed by the Education Bureau (EDB) as a Professional Qualifications Assessment Agency (PQAA) under the Hong Kong Qualifications Framework (HKQF). The accreditation is valid for a period of 5 years from August 1, 2020. HKIB provides training programmes and certifies professional qualifications for local banking and financial practitioners.

With the appointment, the organisation is said to be the third PQAA recognised under the HKQF, as well as the first professional body in Hong Kong’s banking sector to receive this status. Following this accreditation, HKIB is authorised to issue professional qualifications up to Level 6 under the HKQF, which is at the same standard as a Master’s degree.

Carrie LEUNG, Chief Executive Officer, HKIB enunciated, “The appointment marks an exciting new chapter for HKIB and is a testament to our sound professional standing and assessment strategy. In recent years, the Institute has been actively promoting a common qualifications benchmark in the banking sector with the aim to enhance the level of core competence and continuous development of banking practitioners. As a PQAA, we can further expand and strengthen this benchmark by providing practitioners with HKQF-, regulator- and employer-recognised qualifications, meeting the growing demand for mutual recognition of qualifications brought about by increased talent mobility.”

HKIB is now able to issue the Certified Banker, Certified Anti-Money Laundering Professional, Associate Anti-Money Laundering Professional, Associate Cybersecurity Professional, Certified Credit Risk Management Professional,  Certified Credit Risk Management Professional, Associate Credit Risk Management Professional, and Certified Retail Wealth Professional and Associate Retail Wealth Professional qualifications.

A spokesman for the EDB stated, “The appointment enhances the development of vocational and professional education and training in the banking industry in Hong Kong. The HKQF-recognised professional qualifications issued by HKIB promote the recognition of skill-based competence and qualifications for the banking industry and provides learners with quality-assured vocational pathways under the HKQF. The qualifications also facilitate the professional development of banking practitioners, which is conducive to maintaining the competitiveness of Hong Kong as an international financial centre.”

As HKIB develops these professional qualification programmes in Hong Kong, the Institute will also continue to introduce more of them to the Macao market following the MOU that it signed with the Macau Institute of Financial Services (MIFS) in 2018, and will continue to deepen its strategic collaborations with professional institutes and regulators in the Guangdong-Hong Kong-Macao Greater Bay Area.