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RETAIL BANKING ACADEMY (RBA) AND IOBSA SIGN MEMORANDUM OF UNDERSTANDING

RBA candidates to be awarded designation
By Retail Banking Academy
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Johannesburg, 11 September, 2014 - The Retail Banking Academy (formerly IARB) and the Institute of Bankers in South Africa (the second oldest Banking Institute in the world) will today enter into a Memorandum of Understanding whereby IOBSA will undertake an evaluation of the Academy's credit bearing programmes and award candidates a designation. The Memorandum will be signed at an event held at the Wanderers Club in Johannesburg.

Today's announcement is in line with the shared common objectives of IOBSA and the Retail Banking Academy - supporting and improving the standards and competencies of those working in the banking and financial services sector and helping to develop and embed a culture that raises standards of professionalism.

Since its launch in 2011 students from over 60 countries have enrolled with the Retail Banking Academy. Candidates from all the major South African banks have already registered for Academy courses. Indeed, a South African bank (Nedbank) was the Academy's first African client.

Evelyn Hunter-Jordan, Academy CEO, welcomed the announcement. She said 'In 2013 our programmes were accredited by the Chartered Banker Institute in the United Kingdom. With this new memorandum we have consolidated our relationship with the two longest established and highly regarded banking institutes in the world. It is our aim to enter into similar arrangements with other such organisations worldwide in pursuit of our mission to promote retail banking as an internationally recognised profession'.

Jalda Hodges, Chairman of the Board of IOBSA commented 'We share a common aim and it is important that we find ways to work together to the mutual benefit of our members.'