Page 19 - NIBAF-Training Matters July-September 2021

NIBAF Lahore

NIBAF-Lahore conducted a blend
of trainings in the first quarter of
FY22 which included online
trainings focusing on digitization
initiatives of SBP, AML/CFT
compliance, a face-to-Face ToT
on Foreign Exchange Operations
for potential trainers from financial
institutions and three customized
trainings on-demand.
As SBP has been making
headways towards achieving its
vision to promote digitization in the
banking sector and enhance
efficiency of the payment system This was followed by discussion on Branchless banking, Branch
infrastructure, Pakistan’s first various aspects of Raast including managers, Transformation unit, IT
instant payment system (Raast) its objectives, features, scope, use- Audit, ADC, Cards and Customer
has been launched to enable end- cases and process flows, Service attended the training. Mr.
to-end digital payments among stakeholders, SBP plan for Nadeem discussed the Importance
individuals, businesses and implementation and tentative and need for Branchless Banking
government entities and hence timeline, different streams of work (BB) Regulations, BB Operating
facilitate settlement of retail in-progress and milestones Models and types of Accounts,
payments with greater efficiency. In achieved so far. The session Agent categorizations, BB agent
order to create awareness about concluded with an exercise for acquisition requirements, Recent
this initiative, two online trainings participants to propose a product amendment in AML act and its
on the subject were conducted on idea under the assumption that the impact on Customer due diligence
July 27, 2021 and 15 Sep, 2021 and Micro Payment Gateway is taking for BB Accounts, Permissible BB
attended by 60 participants from care of all the infrastructure needs activities, Branchless Banking
different departments of financial and a regulatory sandbox is Authorization Process, BB
institutions including project available. Both the sessions Initiatives taken by SBP to combat
management, ADC, Cards, received excellent feedback with COVID-19 pandemic, BB Trends
Operations, ATM, technical respect to the program content as and way forward. Online training on
services, settlement and fraud. The well as delivery of trainer. Another AML/CFT Compliance and Latest
trainer successfully covered all the online training on Digital Banking Updates was conducted on Aug 5,
relevant areas starting the session was conducted from Aug 30-31, 2021 by Mr. shahid Iqbal who
with an introduction/background of 2021 by Mr. Nadeem Khan, Joint discussed Money Laundering
the payment eco-system in Director, Banking Policy & /Terrorism Financing and its
Pakistan, challenges and Regulations Department, SBP. The consequences, FATF Methodology
opportunities associated with program was well received by to assess the countries, Current
modern payment methods, country industry and total 23 participants Status of Pakistan to meet FATF
experiences on adoption of instant from many areas of banking requirement, Recent Amendments
or near real-time payment systems. including Application side, in AML Act, Regulations for SBP
REs on AML/CFT/CPF R-1 to R-15,
Risk Assessment and results of
Pakistan Assessments, Targeted
Financial Sanctions (TFS),
Essential of TFS, discussion on
why organizations / Financial
Institutions are required to
implement the TFS regime,
Proliferation Financing, aspects of
Reporting STR, components of a
good quality STR, red flag
indicators. The session was
attended by participants from
different categories of institutions
including banks, exchange
companies and DFIs.