The Chartered Institute of Bankers of Nigeria has unveiled a new partnership with the International Finance Corporation, the private sector arm of the World Bank, in its ongoing drive towards enhancing corporate governance in the banking sector.

Giving the hint in his welcome address at the opening session of the ongoing 6th Annual Conference of the Institute in Abuja, the President of the Institute, Mr. Segun Aina, said under the arrangement, the corporation would offer support to CIBN’s capacity-building initiative in area of corporate governance as part of its global best practice goal.

The CIBN boss said sundry other measures were being embarked upon by the leadership of the Institute, including strategic partnership with global development partners and relevant bodies like the Alliance of African Institute of Bankers, in order to professionally equip bankers to play their roles in national development and ensure high ethical standards in the sector.

He said, “I am happy to announce that one of the results of our recent discussions with reputable national and international organisations is that the IFC has expressed its willingness to help enhance corporate governance in the banking sector.

“The Institute had also interacted with and conducted benchmarking trips to various high-ranking professional banking Institutes in Europe, Asia and North America in furtherance of its global best practice goal. Outcomes of these engagements are being strategically rolled out and it includes new professional banking examinations structure, introduction of new certification programmes, technology-driven flexible and convenient learning and examination process and so on.”

“Furthermore, CIBN continues to play a leading “founder-member” role in the evolving Global Banking Education Standards Board due for launch in 2013 during the World Congress of Banking Institutes billed for Kenya”, Aina said.

While restating the increasing critical roles banks will continue to play in the development of global economies through increased financial intermediation and regional redistribution of resources in the form of foreign direct investments amongst others, the seasoned banker said the theme of the conference, ‘Transformation of African Economy: Financial Services Industry as Catalyst’ was chosen as part of the body’s attempt at capturing the role of the sector in effectively impacting on economic development of the country.

“I would like to emphasise that the theme of this year’s conference was specially selected both for its significance and relevance in driving the African economy towards providing a better quality of life for all Africans.

“It is my firm belief that this conference would provide a unique opportunity for players and service providers in the financial services industry in Africa to critically explore, share experiences and identify strategies to be pursued in ensuring that financial services effectively play its expected roles in the transformation of the African economy”, the institute’s president said.

Source: Punch