Page 24 - NIBAF-Training Matters January-March 2021
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delivery channels, “Regulatory Regime of Digital Keeping in view the pandemic, NIBAF Lahore
Financial Services and Branchless Banking (BB)” was conducted a newly developed program for
revised in Dec-2019. The key changes were aimed commercial banks on "Business Continuity & Disaster
at accelerating the level of outreach of Branchless Recovery in Bank Branches" on Feb 18-2021. The
Banking operations and to strengthen the controls program contents broadly covered areas that
related to Money Laundering (ML)/ Terrorist included understanding why business continuity is
Financing (TF) risks. In order to promote awareness necessary, risk evaluation and control, impact
on the new framework and encourage financial analysis and risk assessment, business continuity
institutions to expand outreach and to further enable strategies, emergency preparedness and response,
the institutions already offering BB services to disaster management in case of fire, earth quake,
streamline their existing operations in accordance floods, office management, first aid dealing with
with the revised regulations, NIBAF Lahore chapter pandemics, business continuity plan exercise, audit
conducted one day online training program on the and maintenance, crisis communication and
subject on Jan 27, 2021. The program was coordination with external agencies. Mr. Shahid
conducted by Mr. Nadeem, Joint Director-Banking Iqbal, a certified professional on subject, conducted
Policy and Regulations Department, SBP who is the program very successfully with impressive
directly involved in formulation of the revised feedback from participant on both the content and
framework. The key discussion points of the training the style of delivery.
program included types of BB accounts and related Documentation plays a vital role in international
due diligence requirements, recent amendments in trade by facilitating smooth flow of goods and
AML act and its impact on CDD requirements of BB payments across jurisdictions. Complete and
Regime, BB Operating Model and permissible BB accurate documentation tends to eliminate risk of
activities, BB Agent categorizations and acquisition non-completion by the foreign partner,
requirements, steps taken by SBP to combat COVID- reduces foreign exchange risk and supports ready
19 pandemic, BB Trends and way forward.
availability of financing for trade transactions.
Another online training program on “e-CIB NIBAF-Lahore launched an online course on
Reporting-effective compliance of instructions & “Settlement Mechanism and Documentation in
guidelines” was conducted on Feb 17, 2021 by Mr. International Trade” on Feb 22, 2021. This course
Sajid Khan, Joint Director, Banking Conduct and was designed to equip the participants with the
Consumer Protection Department, SBP. Key critical fundamental understanding about the
discussion points included purpose and objective of policies, procedures and mechanisms of the
eCIB, difference between Public (eCIB) & Private International Trade. Syed Muhammad Anwar ul
Credit Bureaus, importance of data quality, Haq, a seasoned banker with diverse experience in
reconciliation of data before reporting in eCIB, foreign trade and Banking operations was invited
major issues in eCIB reported data, legal & to share his experiences and expert knowledge with
regulatory implications of incorrect data reporting, the participants. The program contents included an
steps to ensure accuracy in eCIB data reporting, overview of risk in international trade, modes of
how to report write off/waiver and subsequent settlement (advance payment, open account,
recoveries/ charge off , overdue reporting and documentary credit), rights and obligations of the
Prior intimation notice to borrowers, drafting of buyers and sellers, rights and obligations of the
Offer/Settlement/NOC letters in case of write issuing/advising/confirming bank, mode of
off/financial relief/restructuring and ensuring payment under L/C, types of letter of credit,
timely submission of eCIB data. transport and commercial documents involved in
international trade, etc.
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