New CISI deal with Tanzania Institute of Bankers to enhance global professional standards

By Lora Benson | May 21, 2020

The Chartered Institute for Securities & Investment (CISI) and the Tanzania Institute of Bankers (TIOB) have signed an MoU with the aim of advancing professional standards in the Tanzanian banking sector.

The collaboration will ensure that the following CISI qualifications will be offered to TIOB students and members:

  • International Certificate in Wealth & Investment Management
  • Global Financial Compliance
  • Risk in Financial Services
  • Operational Risk
  • Managing Operational Risk in Financial Institutions

In addition, candidates will also receive 12 months Student CISI membership which includes access to the full range of CISI member benefits. These include over 500 videos on the CISI TV channel, over 180 e-learning modules or “Professional Refreshers” to update sector knowledge, 1,300 articles in the exclusive member magazine The Review and opportunities to attend CPD events.

190520DamasMugasheTIOBDrofFinandBusDevDamas Mugashe TIOB Director of Finance and Business Development (right) said: “TIOB is committed to partnership engagements at local and international level as part of fulfilling its strategic objectives 2020-2022. Running joint professional programs with The Chartered Institute for Securities & Investment (CISI) will benefit both Institutes by bringing international professionally recognized accredited programs to its members in Tanzania. This will also market some of the CISI programs locally and contribute to its growth. TIOB believes that its members, having acquired those qualifications will enhance their professional careers and better serve the financial Sector in Tanzania, and will be part of the larger international network of professionals. Moreover, TIOB believes that this partnership will contribute to accelerate its transformation agenda and will enhance cooperation between the two entities”.

The Tanzania Institute of Bankers (TIOB) is a banking industry apex body established in 1993 under the Companies Ordinance (CAP. 212), now Companies Act, 2002.

 TIOB’s mission is to promote economic growth by offering financial accreditations that will enhance value and ethics in the global banking and financial sector sustainably, primarily through:

  • Developing competent financial services providers through a wide range of high-quality professional banking accreditation programs and innovative learning opportunities.
  • Being a formidable consultative partner in all matters concerning financial knowledge and the bearer of well-crafted industry professional standards.
  • Providing service excellence through strong strategic alliances.

TIOB’s vision is to develop globally-accredited financial services professionals with the highest ethical standards.

TIOB is a member of the Alliance of African Institutes of Bankers (AAIOB) and it is a co-creator of East Africa Banking School which include Uganda, Kenya and Tanzania. Other Countries in the East African Region are in the process of establishing their Institutes and will subsequently join this regional cooperation. TIOB has 8,000 current individual members and also serves more than 50 corporate members.

Lisa Elo CISI Senior International Development Manager said: “We are delighted to be working with TIOB on this important initiative, which affords both our organisations the ability to grow the profession in Tanzania. This agreement provides us with the opportunity to support our partners at TIOB to help progress professionalism and promote the highest standards of integrity and ethics within the Tanzanian banking sector.”

With 45,000 members in over 100 countries the CISI is the leading professional body for those working, or looking to establish a career, in the financial services sector. The CISI has been working in Tanzania since 2014 when it signed an MoU with the Capital Markets & Securities Authority to provide licencing exams for practitioners working in capital markets. CISI opened its first African office in Kenya in 2018 and over the last three years over 4000 exams have been taken across the East African Community.

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