Launching the Investment Advisor Training and Certification Program in cooperation with Jordan Securities Commission
In view of the agreement signed by the Institute of Banking Studies and Jordan Securities Commission last year, and in continuation of the Institute's persistent efforts to develop the capital market and deepen the concept of specialization in all professions under it and in conformity with the new Securities Law, the Institute has started at its premises the Investment Advisor Training and Certification Program during 28/5 - 20/7/2006 in cooperation with Jordan Securities Commission, AMIR Program funded by USAID, and the National Association of Securities Dealers (NASD).
This program, the first of its kind in Jordan and the region, aimed at raising the professional standard of the securities market professionals through providing them with a comprehensive knowledge on capital markets as well as the latest amendments to the laws and regulations of securities and applied standards in this field. The program focused on the various technical and applied aspects to the methods of quantitative, fundamental and technical analysis of investment tools, investment portfolios and equity. The program dealt also with the usage of the new investment products in local markets, and management of investment portfolios according to the latest standards and practices in the international financial markets, in addition to enriching the participants' knowledge in the ways for linking the macro and micro-economic indicators with capital markets.
This program which was carried out in English language over (8) weeks for (160) training hours has been presented to the participants through lectures using various training methods such as discussions, case studies, teamwork, simulation, research and strategic sessions. The training during the program concentrated on theoretical and applied techniques. At the end of the program, participants will get licenses from Jordan Securities Commission qualifying them to work as Investment Manager, Investment Trustee and Financial Advisor after passing the required certification exam.
The program met distinguished participation from various banks and financial institutions as well as investment and brokerage companies. Twenty one trainees who have undergraduate degrees in Finance, Accounting, Business Administration and Economics, attended this program which the Institute will carry out during this year and the coming years in conformity with the concluded agreement and similar to the Brokers Training and Certification Program.
Specialized Professional Diploma Program in Bank Leadership
Following the persistent efforts of the Institute of Banking Studies to create trained and qualified banking cadres, who can accommodate the banking and financial sector with a banking generation characterized by specialization and in depth knowledge in the various fields of bank activities, and equipped with skills of creativity and distinction. And in view of the big success achieved by the Institute through presenting the specialized professional diploma programs in financial analysis, bank credit and investment portfolios management, the Institute of Banking Studies launched the Specialized Professional Diploma Program in Bank Leadership at its premises in Amman during 7/5 20/7/2006. The program aimed at qualifying the employees who occupy administrative, supervisory and leadership positions to acquire a specialized professional diploma in bank leadership (banking leader).
The implementation of this program used the training units method similar to the other specializations within this series of programs. The program includes eleven training units held after working hours for five days a week, and each training unit operates within a workshop that handles the subjects of the program in a comprehensive and harmonious way.
This program included subjects of bank leadership and its contemporary challenges, the mechanism of teamwork and management of meetings for banking purposes, in addition to focussing on strategic planning and change management, developing communication skills, techniques and strategies of negotiation, time and work pressures management. The program also discussed effective problem solving methods and decision-making as well as the new methods of evaluating individual and institutional achievements and bank branches management. Moreover, the program provided an opportunity for the participants to gain acquaintances, skills and behavioral patterns that improve their current performance at work and prepare them to assume higher executive and leadership responsibilities.
The Institute aspires through presenting such programs to enrich its training activities in view of its continued prospects to contribute effectively in advancing and upgrading the Jordanian financial and banking sector in all fields, and deepening the concept of specialization among its cadres.
Special Comprehensive Training Program for Beginners /for Jordan Commercial Bank Employees
During the second quarter of this year, the Institute's management carried out the Comprehensive Training Program for Beginners for Jordan Commercial Bank employees at the Institute's premises from April 16th till May 11th for twenty trainees. This program aimed at widening the trainees' knowledge in different aspects of banking operations, in order to facilitate assimilation in their institution and to develop their mental abilities and productivity. The program has been designed using the latest scientific approaches that conforms to the nature of the financial and banking activities.
The program consisted of two parts: the first includes the internal banking operations and aims at increasing the participants knowledge in the mechanism of performing the internal banking operations and provides them with skills and experiences related to the nature of their work in this field. This part include bank accounts such as deposits, savings, fixed accounts, certificates of deposits, direct and indirect credit facilities, bank guarantees, bank risks inquiry and bank accounting. The second part of the program includes the external banking operations and aims at raising the participants efficiency through providing them with the different technical aspects of the external banking operations. This part include subjects such as documentary credits, bills of collection, external transfers, correspondent banks and the basics of dealing and opening accounts with them.
The carrying out of such specialized programs comes within the existing cooperation between the Institute and the managements of the banks in order to raise the efficiency of their employees in the different financial and banking fields from various managerial levels. The Institute will continue to hold more of the ordinary and specialized training courses in accordance with its policy to provide the institutions of the financial and banking sector with trained and qualified cadres.
The Financial and Administrative Assistant to the Dean Attends the Financial Risk Management Seminar
The Financial and Administrative Assistant to the Dean of the Institute of Banking Studies attended a specialized banking seminar organized by the Union of Arab Banks in Beirut, Lebanon during 23/5 -26/5/2006 under the title Financial Risk Management. The seminar aimed at providing the participants with comprehensive understanding of risk management techniques on the micro and macro levels, how to measure the different aspects of the interest rate, its assessment and determining the risks of foreign currency rates, in addition to evaluating exposure to credit risks, methods used by risk managers in financial and banking institutions to avoid credit risks, and providing them with the latest developments in the strategies of risk management in the international banking arena.
Basic Course of the Sustainable Microfinance Training Program for UNRWA Employees
In continuation of the Institute's efforts in training the human resources working in the microfinance institutions on the local and regional levels, and in accordance with the contract concluded with AMIR Program, the Institute held at its premises in Amman the Basic Course of the Sustainable Microfinance Training ProgramÓ during 20/5 -24/5/2006. Twenty trainees from United Nations Relief and Works Agency for Palestine Refugees (UNRWA) employees working in Syria, Lebanon, the West Bank and Jordan attended the course. This course which consists of (35) training hours aimed at developing the participants skills and increasing their productivity at their works, as well as providing them with the best methods of lending, the latest international best practices in choosing customers, how to cover the expected costs of financing, and other subjects that enhances the progress and continuity of the microfinance organizations.
The Institute has decided, however, to hold more training courses of this program whether basic or advanced ones, in addition to increasing the subjects that are covered within this context to include the aspects related to the microfinance industry in cooperation with different international institutions that support the organizations of this sector.
Specialized Banking Seminars Held at the Institute During the Second Quarter 2006
During the second quarter of this year, the Institute held five seminars as follows:
1- Advanced Anti-Money Laundering
This seminar took place during the period 2/4 - 6/4/2006 in cooperation with Bond Associates / UK. (30) trainees from the different local banks and financial institutions attended the seminar that discussed the legal framework of anti-money laundering legislation as well as the new developments of these legislations in Jordan, Europe and USA. Also the seminar discussed the stages of money laundering , advanced monitoring techniques, reporting, auditing and the international attempts to combat money laundering as well as assuring the correctness of information sources and know your customer and (KYCB), and all this through an in-depth study of advanced practical cases in this field.
2- Securitization and its Applications in Islamic Banks
The Institute of Banking Studies organized this seminar during 23/4 Ð 27/4/2006 in cooperation with the Islamic Research and Training Institute attached to the Islamic Development Bank / Jeddah. Thirty trainees from different Arab banks and financial institutions in Saudi Arabia, Kuwait, Sudan, Libya and Jordan took part in this seminar. The seminar discussed the technical and legal nature of securitization and its scope in Islamic banks as well as the institutional and legal requirements for its application. The seminar also discussed the role of Islamic securitization in financing projects and companies, and its importance as an instrument for liquidity and risk management in Islamic banks , and how to raise the efficiency of asset and liability management through the experiences of some Islamic banks in applying securitization.
3- IT Auditing and Controls
This seminar took place in cooperation with MIS Training Institute / UK and (23) trainees attended it from the various institutions in the local banking and financial sector during 14/5-17/5/2006. This specialized seminar handled several subjects such as the fundamentals, standards and necessary requirements to audit the IT systems, databases, networks, E-Banking, and how to carry out their audit from the beginning of the banking operation and until its end, in addition to monitoring its input and output. The participants also discussed case studies from a number of international banks in this field.
4- E-Banking Risk Management
This seminar took place in cooperation with Euromoney Training / UK during28/5-31/5/2006 and (13) trainees attended it. The seminar discussed E-Banking and the banking and operational risks associated with it, as well as the measures and policies to reduce and minimize these risks and their effects in accordance with the Basel II resolutions. The seminar also discussed the evaluating and auditing of these risks as well as E-Banking operations in the light of the latest developments on the international banking arena.
5- Excellence in Customer Service
The Institute of Banking Studies carried out this seminar during 19/6 -22/6/2006 in cooperation with Crown Agents Bank / UK and with the participation of (18) trainees representing the various Jordanian banks and financial institutions. This specialized seminar dealt with the advanced concepts of customer relationship management, and how to put policies for their service through understanding the desires and needs of clients and conveying them to the decision makers in the institution, in order to achieve excellence in customer service and attract as much as possible new clients. The participants also discussed during the seminar how to adapt the customer service strategy to the general strategy of the institution since its utmost importance in light of internal and external competition among the organizations of the banking and financial sector.