Training Courses on Electronic Cheques Clearing System in Cooperation with the Central Bank of Jordan and ProgressSoft Corporation
In view of the distinguished success of the Institute of Banking Studies in its training activities and the good reputation it enjoys among the different banks and financial institutions on the local and regional levels, the Institute has started in cooperation with the Central Bank of Jordan and ProgressSoft Corporation training courses on using and implementing the Electronic Cheques Clearing System at its premises in Amman for local banks' employees as from 12/3/2006.
This clearing system has been adopted by the Central Bank of Jordan to be applied in Jordanian banks within its policy which aims at developing the Jordanian banking sector cadres through introducing them to the latest techniques used in the payments systems. The Electronic Cheques Clearing System has many benefits which are reflected on the public and the national economy and which include reducing the period of clearing cheques, increasing the efficiency of this operation, decreasing the risks and expenses involved, and increasing liquidity as well as preventing fraud and forgery of cheques and providing an electronic database for commercial banks and the Central Bank of Jordan .
The implementation of these training courses will continue at the Institute's premises until the middle of this year at a rate of four training courses per week and (15) training hours for each, distributed at two courses in the morning and two in the afternoon . The number of training courses held during the first quarter of this year is (12) training courses attended by (156) trainees from the different Jordanian banks. The same courses will be held at the Institute's branches in Irbid and Aqaba during the second quarter of this year at a rate of two training courses per week. However, the Institute will carry out more courses in its training plan on subjects related to the Electronic Cheques Clearing System when the actual application of the system is completed in all local banks and their branches in order to benefit the cadres of banking institutions.
The Institute's Management Meetings with Local and International Organizations
* Cooperative Group to Assist the Poor
The management of the Institute of Banking Studies met several times with the Cooperative Group to Assist the Poor(CGAP) which is affiliated with the World Bank. In these meetings, the CGAP in cooperation with the Arab Network for Microfinance (SANABEL) expressed their desire to make an agreement with the Institute to become their regional partner in promoting the training activities which CGAP and SANABEL offer to the microfinance practitioners of different managerial levels regarding small and medium size projects in different parts of the world .
A memorandum of understanding and mutual cooperation between the three parties will be signed upon completion of all the technical, administrative and financial matters. Jordan, Iraq and the West Bank will be the targeted areas in this preliminary stage. However, the Institute of Banking Studies was chosen to assume this role due to the outstanding success the Institute has achieved during the last few years in implementing the Sustainable Microfinance Training Program in cooperation with AMIR Program funded by USAID , and due to the good reputation the Institute enjoys on the local and international levels, as well as due to the distinguished technical and training facilities which the Institute possesses.
* The University of Jordan
The Dean of the Institute met at the Institute's premises on 16/3/2006 a delegation from the administrative and educational committee at the University of Jordan , headed by Dr. Mostafa Qrunfleh / Vice President for Administrative Affairs . The purpose of the meeting was to know about and see the Institute's training and technical facilities, its academic and training activities, and how the Institute apply theory to practice within a practical context beneficial to the trainees. However, the University delegation expressed the intention of the University of Jordan to adopt new procedures to introduce practical aspects in the banking and financial specializations materials in order to facilitate for the graduates their joining the work market .
The delegation was escorted to see the Institute's training facilities and equipments especially the Mock Dealing Room , the English language lab and computer labs . The delegation appreciated the high standard of the Institute's facilities as compared to all other local and regional training institutes and organizations. At the end of the visit, the Institute's management reiterated its readiness to offer assistance and consultancy in all aspects by which the Institute can contribute in supporting the educational process and make it achieve excellence in the Kingdom.
Special Courses for HSBC Middle East Bank
The Institute of Banking Studies has carried out special training courses for HSBC Middle East employees on Detecting Bank Counterfeit and Forgery during the first quarter of this year. These courses were attended by (60) employees as follows:
- (19) employees during the period 15/1-19/1/2006 .
- (21) employees during the period 22/1-26/1/2006 .
- (20) employees during the period 5/2-9/2/2006 .
These courses were held in the framework of the existing cooperation between the Institute of Banking Studies and HSBC Middle East Bank in order to improve the qualifications of the bank employees and to equip them with the proper experience to deal with counterfeit and forgery operations. The Institute of Banking Studies, however, will hold more special training courses on different subjects for some of the local banks employees during the second quarter of this year in continuation of the Institutes efforts to raise and upgrade the standard of the Jordanian banking and financial sector cadres in the different fields.
Specialized Banking Seminar at the Institute in Cooperation with Progressive Banking Solutions / Ireland
A specialized banking seminar was held at the Institute's premises entitled "Understanding Leadership and What it Means to be a Leader" in cooperation with Progressive Banking Solutions / Ireland during 19/2-21/2/2006. The seminar was attended by (28) employees from the middle and upper management levels of the different institutions in the Jordanian banking and financial sector . The seminar concentrated on several important specialized subjects regarding banking leadership namely: values and standards of leadership, skills and qualifications of prominent leaders and methods of selecting them , leadership and management and styles of leaderships, positive and dynamic leadership, change management and action planning and methods of applying new leaderships aspects in our banking and financial institutions .
Nevertheless, during this year and the years to come, more specialized seminars will be held in cooperation with Progressive Banking Solutions according to the training needs of the local financial and banking cadres.
The National and Military Education Course
On 16/2/2006, a ceremony was held in the Conference Hall at the Institute of Banking Studies to graduate (70) students of the Diploma Program who participated in the National and Military Education Course.
This course aimed at deepening the sense of belonging among the students and the values of pride in their country, history and culture . The course demonstrated the role of the Armed Forces in developing the local society and emphasized the role of the Great Arab Revolution and the Hashemites and the role of the Late King Hussein Bin Talal in the Palestinian problem and his keenness to point out the Palestinian rights in their land . The course also dealt with the current situation in the region and the peace process in the Middle East and its impact on the national economy.
At the end of the ceremony , Lieutenant Colonel Hani Abu-Zeid representative of the GHQ of the Armed Forces, distributed the certificates to the Diploma Program students, and in his turn , the Dean of the Institute presented the shield of the Institute to Lieutenant Colonel Abu-Zeid in appreciation of the Armed Forces efforts to serve the Jordanian society.
Comprehensive Training Program for Beginners
The Institute of Banking Studies carried out during the period 5/2-2/3/2006 in Amman the Comprehensive Training Program for Beginners, which was attended by (42) trainees from the different financial and banking institutions in Jordan for (70) training hours . This program has been held to acquaint the new recruits with the different aspects of banking operations in order to facilitate doing the jobs they assume in their institutions and to increase their efficiency, knowledge and productivity through using the latest training methods which suit the nature of financial and banking operations.
The program was divided into two parts: the first comprised the internal banking operations which aim at increasing the participants knowledge in the procedures of the internal banking operations, and at providing them with skills and experiences related to their work such as the basics of direct and indirect credit facilities, current accounts, bank cheques , clearing, credit risk inquiries and bank accounting and guarantees.
The second part of the program comprised the external banking operations which aim at increasing the participants efficiency through understanding the different technical aspects of external banking operations, and enriching their knowledge in dealing with correspondent banks and opening accounts. This part also covered subjects such as documentary credits, collections, foreign transfers and cheques.
Spot Foreign Exchange and Money Markets Dealers Program
In the Mock Dealing Room at the Institute of Banking Studies in Amman several training courses were carried out during the first quarter of this year within the Spot Foreign Exchange and Money Markets Dealers Training and Certification Program . Two training courses were held on Windeal for Money Market and were attended by (20) trainees, and a course on Windeal for Spot FX and was attended by (10) trainees from different banks and financial institutions .
These programs were designed to handle dealings in foreign exchange and money market operations as well as cross rates, the rules and risks of dealing in foreign exchange, short term derivatives in loans, the basics of dealing in money markets through banks or on behalf of individual customers, understanding the concepts of interest rates and their theories and dealing with deposits.
Brokers Training and Certification Program
In view of the Institute's efforts to reinforce the local capital market with qualified and well trained cadres, the Institute of Banking Studies has carried out during this quarter six training programs within the Brokers Training and Certification Program at the Institute's premises in Amman in cooperation with Jordan Securities Commission and AMIR Program . These programs were attended by (197) trainees from various banks, financial institutions and brokerage firms. The trainees who passed successfully the required exams were granted certificates qualifying them to get permits to work as brokers from Jordan Securities Commission.
Due to the increasing demand to attend this program as a result of the tremendous growth of the local financial market, this program will be carried out at the Institutes branch in Irbid during the period 16/5-22/6/2006 to benefit the banking and financial sectors employees working in the northern part of the Kingdom, beside continuing to present it extensively in Amman during this year.
Specialized Professional Diploma Programs
The Management of the Institute of Banking Studies continued to launch this year the Specialized Professional Diploma Programs for the cadres working in the financial and banking sector in harmony with the requirements of the coming era where specialization is considered to be the most important characteristic of modern banking and financial operations . During the first quarter of this year the Institute carried out two Specialized Professional Diploma Programs in Bank Credit both in Amman and Irbid and were attended by (24) trainees and (16) trainees consequently. Also two Specialized Professional Diploma Programs were also carried out in both Amman and Aqaba in Financial Analysis and were attended by (25) trainees and (15) trainees consequently. These programs were implemented in response to the needs of the banking and financial cadres in Jordan in order to create trained human cadres able to grasp and use the necessary technical skills and their applications as well as to cope with the banking and financial developments on the international level .
Also, the management of the Institute of Banking Studies decided besides presenting the current programs, to launch the Specialized Professional Diploma Program in Banking Leadership (Bank Leader) during the second quarter of this year in order to meet the training needs of the banking and financial cadres in management and leadership skills of the middle and upper management in this sector and those employees who are expected to occupy such posts.