Global Banking Standards Body Preaches Ethics Education, Training For Bankers

The Global Banking Education Standards Board (GBEStB), as part of efforts to promote ethical standards as well as provide the foundation for high quality and consistent education for bankers worldwide, has challenged member institutes, including the Chartered Institute of Bankers of Nigeria (CIBN) to focus their training programmes on ethics education and training for professional bankers.
Unveiling the new standard consists of seven key recommendations that all GBEStB member bodies must comply with, chair of the GBEStB Education Committee and Chief Executive of the Chartered Banker Institute, Simon Thompson, said the board comprising over 20 banking institutes, will begin the implementation of the Ethics Education and Training standard from June 1, 2018.
The banking standard for banking practitioners, the first across the globe according to a statement by Seye Awojobi, Registrar/Chief Executive Officer of CIBN, focuses particularly on Ethics Education and Training for Professional Bankers.
He quoted Thompson as saying it “sets out our expectations of and guidance for GBEStB member bodies in terms of general recommendations and recommendations for the content, delivery and assessment of ethics education for professional bankers.”
The recommendations, he added, also included key ethical principles for professional bankers; content of ethics education and training programmes; delivery of ethics education and training programmes; assessment of ethics education and training programmes; impact measurement (of the Standard) and public declaration.
He further disclosed that a consistent approach in the promotion of ethical standards and education of professional bankers worldwide would help develop a strong ethical culture within the banking industry, thereby improving financial stability.
Consequently, Awojobi therefore urged banking practitioners, regulators and other stakeholders to endorse and support the GBEStB initiative, to ensure Nigeria’s compliance in line with global best practices.