Page 37 - NIBAF-Training Matters January

Page 37 - NIBAF-Training Matters January - June 2023

P. 37

NIBAF Lahore efﬁcient record-keeping, real-time
tracking of cases and system gen-
erated reports. Besides the digitiza- statements, borrowing product / Financial Assets, SBP Instruction on from with top-notch practitioners Digitization of Drawback of Local conducted by NIBAF-Lahore.
in the ﬁeld.
ﬁrst one-day online session

IFRS-9 implementation, impact of
performance matching, banker’s /
Taxes and Levies (DLTL) Schemes
tion, SBP has also delegated some exporter’s responsibilities / incentives, IFRS-9 on Financial Disclosures, for Trade Sector, Procedure for conducted on January 25, 20
Programs for processes to banks including the on-site veriﬁcation process under implementation challenges for The ninth iteration of the program Lodgment and Effective Use of followed by a one-day F2F p
sub-allocation of EFS limits which is
MS Excel
part-II and penalties charged / refund

was held at NIBAF-Lahore from
banks and further guidance.
on March 21, 2023. Mr. Khur
Financial Institutions further expected to rationalize the under part-II. The session was very Participants from relevant depart- February 13-17, 2023. Experts from Foreign Exchange Operation Units Fayyaz, Deputy Director,
processing time.

Supervision Department-2, S
different organizations including
interactive with detailed clariﬁcation
on various queries of the partici- ments of SBP and different com- SBP, SBP BSC, FATF, FIA, NAB, of SBP BSC ofﬁces process exporter delivered a well-str
In order to apprise participants on pants on the electronic procedures mercial banks attended the session NCTA, FBR, FMU and banks were claims submitted by Authorized program sharing key insight
key features of the scheme and the was given by the trainer. which aimed to impart basic to invited to share insights on different Dealers in respect of subsidy and digital frauds in the curre
Regulatory perspective capitalize and depend on technolo- use of digital platform, an online intermediate level understanding areas. Key areas covered included Duty Drawback Schemes on behalf io to help bankers better u
on Fintech, Regtech and Suptech gy-driven solutions. In order to give session on the topic was conducted Regulatory Framework on of the new accounting model regulatory regime & legal require- of Federal and Provincial Govern- stand the nature of the dig
an overview of key initiatives in the on January 18, 2023. Mr. Adeel Khan, Proceeds Realization Certiﬁcate under IFRS-9 and the changes ments to meet international stan- ments as per instructions issued by crimes and identify ways to
The ﬁnancial services sector is area, an online session on the topic Deputy Chief Manager, SBP BSC required to be implemented for dards, SBP regulation & compliance the relevant Ministry/Department. their clients from ﬁnancial
going through signiﬁcant transfor- was conducted on January 12, 2023 Multan conducted the program When a customer receives funds compliance. Both the sessions were requirements for ﬁnancial institu- Since the process has been The trainer used real-life
mation with the application of a by Ms. Saima Hameed, Joint Direc- and discussed EFS schemes in from abroad in his/her account in attended by almost 60 participants tions ,basic concepts and typolo- digitized, an online session covering and case studies to demonst
range of new technologies such as tor, Exchange Policy Department, detail particularly focusing on PKR, banks issue them a proof of from different ofﬁces of BSC, SBP gies of money laundering , role of digitization of DLTL Schemes for the importance of a risk-ba
big data, artiﬁcial intelligence, SBP. The main topics covered recent developments like electronic funds received called Proceeds and banks. Financial Monitoring Unit (FMU) trade sector, procedure for lodg- approach for managing digit
cloud computing, block chain etc. during the session included Regu- submission & approval of ERF cases Realization Certiﬁcate (PRC). In and Reporting Requirements , role ment of claims and effective Use of frauds. Widespread exercise
Opportunities and risks of new latory Regime on Inward Remit- and off-site monitoring role of SBP/ order to provide convenience to the Advance Professional Certiﬁcate and investigations by Law Enforce- MS Excel was conducted on Febru- interactive activities furt
entrants, new technologies, and tances, SBP Initiatives for promot- SBP BSC after handing over the banking customers, SBP has also in AML & CFT (APCC- 9) ment Agencies, Trade Based ary 21, 2023. role in catalyzing digital transfor- companies successfully utilizing cloud the participants to
new strategies is leading the ﬁnan- ing Home Remittance, Roshan ERF operations to banks. He kept digitalized the process of the Home Remittances initiatives. Both the trainers effec- Money Laundering (TBML), Money mation especially in ﬁnancial computing technology. Around 20 ries learned in practical s
cial sector policy makers and regu- Digital Accounts & its afﬁliated the participants engaged through- issuance and veriﬁcation of such tively handled queries received NIBAF’s ﬁve-day Advance Profes- Laundering through correspondent Syed Ali, Assistant Director, Foreign institutions that process and store participants from different ofﬁces The training program hi
lators to readjust their approaches. Products, automated issuance & out the session and discussed the PRCs. All Authorized Dealers are Home remittances contribute from participants which included sional Certiﬁcate Course in banking and the role of National Exchange Operations Department, vast amount of data on a daily basis. of SBP, SBP BSC and banks attended the importance of com
This reshaping of the regulatory veriﬁcation of Proceeds Realization underlying processes and bank’s required to issue and verify ePRCs signiﬁcantly in Pakistan’s economic ofﬁcers from banks and SBP. Anti-Money Laundering & Combat- Counter Terrorism Authority (NCTA) SBP BSC conducted the session As cloud computing enables banks the training program. between the operational fro
and compliance landscape is also Certiﬁcates, framework of digital role in detail. The main topics and the Statement of PRCs activities. Hence, SBP together with ing of Terrorist Financing has estab- in combating the ﬁnancing of starting the discussion with an to access their IT resources over the staff and risk managemen
leading the ﬁnancial institutions to onboarding of merchants and covered during the session includ- (S-PRCs). Under this automation, the Government of Pakistan intro- IFRS 9-Accounting Model For lished itself as comprehensive terrorism. practical case studies and overview of DLTL & Subsidy Schemes internet, it can revolutionize banks Risk Based Approach for of banks and the need for
invest heavily in monitoring and customers, regulatory framework ed discussion on the importance of customer will receive an e-PRC duces various policy initiatives, Financial Instruments certiﬁcate program for compliance evening talks were also held on by GoP, claims and process-ﬂows processes with regards to data Managing Digital Frauds collaboration and more effe
compliance structures that use of mobile banking account, security Development Finance & Financial instantaneously as soon as funds from time to time, to increase the professionals in the local ﬁnancial different areas including role and and assessment of claims, use of management and storage. Given strategies for addressing i
technology to satisfy regulatory and of digital payments and way Inclusion, speciﬁc tools used for are credited in the account. Further, ﬂow of home remittances through SBP has issued detailed guidelines industry. This program has been functions of FATF secretariat Regulatory Approval System (RAS) the sensitivity of their data, banks An effective fraud risk manage- ingly complex digital f
compliance requirements. forward for innovative banking promotion of different segments banks will also issue a S-PRC to their formal channels and encourages to banks on implementation of designed by NIBAF in close consul- pakistan, SBP stance on digital Portal, usage of Pakistan Customs’ must also be fully aware of the Cloud ment creates an enterprise-wide reduce risks for the ban
products. Sixteen participants from under the Development Finance customers mentioning all remit- banks and exchange companies to International Financial Reporting tation with market practitioners currencies and ML/TF risks associat- data, issues in processing of claims Security and Privacy concerns and view to keep organization’s fraud 80 participants from SBP,
In order to give an overview of SBP and foreign exchange ofﬁcers spectrum, core indicators of Finan- tances received by them from mobilize home remittances Standard 9 (IFRS-9) and ﬁnancial and all relevant stakeholders ed risks with crypto currencies. and discrepancies in data and their proper mitigation. risk within tolerance limits by incor- and FinTechs attended
FinTechs and its application in the from different ﬁnancial institutions cial Inclusion and role of Export abroad during the year. through quality banking services reporting formats with tiered dates including experts from SBP, SBP documentation and effective use of porating risk awareness, account- iterations conducted over t
local and ﬁnancial sector an online attended the session. Finance Schemes , speciﬁc objec- and marketing efforts. for implementation deadlines to BSC, FATF, FIA, NAB, FBR and FMU. Participants were rigorously evalu- Excel tools and templates. It was a In order to develop an understand- ability, and transparency in all
session on the topic was conducted tive and scope of the EFS scheme, On the suggestion of the Pakistan facilitate the industry but has also This course offers a unique combi- ated throughout the session using very interactive session with many ing of cloud computing, its applica- processes, implementing proactive Regulatory Perspective o
on January 10, 2023 by Mr. Shoukat Digitization of Export Reﬁnance digitization of EFS Scheme, central- Banks' Association(PBA), a half-day In order to build awareness and encouraged early adoption of the nation of topics that builds on theo- host of methods during various queries from the participants which tion in the banking sector and data controls to prevent frauds at the Banking Fraud
Bizinjo, Additional Director, Schemes & their Operations ization and E-Submission of EFS online session on the topic was capacity of remittance ofﬁcers standards. retical and practical skills of partici- activities and daily quizzes to Mr. Ali addresses in detail. The session security concerns, an online train- outset while also putting in place
Payment Systems Policy & Over- cases, delegated functions & arranged on January 19, 2023 to working in banks and exchange pants enabling them to comply ensure thorough understanding of was attended by participants from ing program on Cloud Computing dynamic detection and control While the digital methods a
sight Department and Mr. Rajeev As a major step towards ease of processes of EFS, roles & responsi- develop understanding of relevant companies, a one-day online train- In order to support bankers transi- with applicable legal & regulatory topic covered and certiﬁcates were different ofﬁces of SBP BSC. and its role in Driving Digital Inno- systems to swiftly mitigate organi- reinventing the pa
Gulrajani, Deputy Director, Digital doing business, SBP has digitized bilities of stakeholders after digiti- ofﬁcers in the area and to address ing program was conducted on the tion to the new standards, signiﬁ- frameworks and adopt best practic- awarded to successful candidates vation was conducted on February zational repercussions from fraud tem in the country, they a
Innovation and Settlements the process of obtaining reﬁnance zation of schemes, Export Finance their speciﬁc queries. The session topic on January 20, 2023. Team of cant capacity building is required es in the context of the ﬁnancial after a comprehensive exam. Partic- Cloud Computing and its role in 22, 2023. Mr. Hassan Azwar, Cyber incidents. opening opportunities for
Department, SBP. The main topics from SBP by banks under the Scheme- Part I & Part II, limit alloca- was delivered by Ms. Saima trainers from Exchange Policy given the data challenges as well services industry. Evening talks on ipants from different ofﬁces of SBP Driving Digital Innovation Security Expert at NACTA who has sters, who are increasingly
covered during the session includ- Export Finance Scheme (EFS). The tion under Part II, process of entitle- Hameed, Joint Director, Exchange Department including Mr. Rashid lack of required capacity in the area. important topical areas in AML and BSC and banks attended this train- also been a part of digital ﬁnancial In order to highlight key risks and ing sophisticated met
ed FinTechs and disruptions, back- digitization is expected to reduce ment under Part II, documents Policy Department, SBP. The main Mehmood, Senior Joint Director & Consequently, NIBAF continues to CFT further offer an opportunity for ing program. Cloud computing is a powerful services team at SBP conducted preventive strategies in the area, defrauding banks and
ground and categorization, the turn-around time of processing required for reﬁnance loan under topics covered during the session Ms. Paras Shah, Deputy Director regularly offer trainings on the participants to interact and learn technology that can play a critical the program. Since this was a new different iterations on the topic, customers presenting
FinTechs in Pakistan & Global the claims and also facilitate Part-II, discussion on EE-1/EF-1 included introduction to PRCs, delivered a comprehensive session topic. Two online iterations of the & technical topic, the trainer started both online and F2F, have been challenges in fraud m
context, RegTechs & SupTechs, over- background and rationale for digiti- discussing deﬁnition and scope of program were conducted in Febru- from foundation level concepts and
view of international regulatory zation, regulatory instructions for home remittances, signiﬁcance for ary-2023 and June-2023 by Mr. slowly progressed towards an inter-
cooperation initiatives and SBP issuance and veriﬁcation of PRCs developing economies and Paki- Fahad Bin Ammad, Joint Director, mediate level discussion on key
initiatives regarding RegTechs & and S-PRCs, eligibility criteria for stan, overview of domestic home Banking Policy & Regulations areas. He explained cloud-based
SupTechs. Around 26 participants customers, standard format, proce- remittances infrastructure, system Department, SBP. The trainer innovation strategies and platforms,
from different banks and ofﬁces of dure for automated issuance and constituents and stakeholders, discussed the topic building upon cloud-native applications and micro
SBP BSC attended the program. veriﬁcation, steps to avoid misuse of home remittances of Pakistan in foundation level concepts to facili- service and their use in creating
e-PRC and S-PRC, violations global and regional perspective, tate the participants and help them more agile and responsive systems,
Let's Be Compliant with SBP observed across banking industry challenges and opportunities for develop better understanding to use of Artiﬁcial Intelligence and
Digital Drive on FX Front and preventive measures to avoid recipient country/remitters/beneﬁ- support successful implementa- Machine Learning at scale with
penalization. Ms. Saima handled ciaries, innovation and digitalization tion. He discussed the reasons for cloud computing and innovative
The ongoing digitization in the the queries very effectively and kept drive for promotion of home remit- replacement of IAS-39, changes in applications in different industries,
banking sector is being witnessed the participants engaged through- tances, role of the Government, the classiﬁcation and measure- securing data in the cloud and
in all aspects of banking operations out the session. Participants also SBP, PRI and ﬁnancial institutions ment of ﬁnancial instruments implications of cloud-based innovation
including the foreign exchange expressed keen interest in the train- in facilitating remittances, incentive under IFRS-9 and comparison with on data privacy and governance. Mr.
operations. Exchange Policy ing and sought clarity on practical Schemes for remitters and beneﬁ- Basel III- Regulatory treatment of Hassan also facilitated online group
Department, SBP has launched issues experienced in the area. ciaries, impact of measures taken to accounting provisions, elements of activities with the help of break out
many projects and products that promote remittances and new the IFRS 9 Impairment Model for rooms and discussed use cases of

37 Training Matters | January-June 2023

for innovations & creative ideation,
and looming deadlines from
high-stake projects. All these
factors underscore the importance
of building a resilient workforce
that allows people to perform at
their best and proactively respond
rather than react when faced with
emotional triggers. Hence, the ability
to utilize emotional intelligence in
the workplace is widely recognized
as a valuable skill by employers. This
capacity to recognize and effective-
ly manage emotions of oneself and
the others is a trait that is increas-
Mr. Javaid Ahmad, Ex Joint Director, importance of dashboard reporting ingly being considered as import-
SBP conducted the session from and visualization in presenting data ant as the intellectual ability in
March 13-14, 2023 and discussed the insights. The trainer’s presentation organizational workforce for its role their emotional triggers to develop emerging technologies, and digital FinTech
Change Management kept the participants engaged importance of revamped uniform skills and ability to articulate com- in enhancing workplace relation- strategies for responding to ﬁnancial services. His work has
Three iterations of the Change Man- through interesting discussions version of Business Writing & plex concepts in easy-to-under- ships, managing stress, and career challenging situations. The trainer included developing and imple- The FinTech industry is growing
All organizations face changes in agement program were conducted and examples of major enterprise Reporting at SBP and SBP BSC. The stand manner made the program progression. created a supportive and encourag- menting cybersecurity measures rapidly as the ﬁnancial transactions
their business environment push- at NIBAF Lahore over the period. Mr. wide changes over the history of trainer focused on different areas engaging and interactive for the ing learning experience allowing for the nation's ﬁrst Instant increasingly rely on customer
ing them to adopt new and better Javaid Ahmad Bhatti, Director, SBP BSC and its beneﬁts for the including effective business writing participants. With multiple In order to develop EI skills of participants to candidly share their Payment System-RAAST which is service innovations spurred by
ways of doing things. SBP manage- Currency Management Depart- employees as well as the organiza- principles for different forms on hands-on practice sessions and employees and support them in own experiences and insights in considered to be a key driver of integration of technology and data.
ment is mindful of the fact that a ment, SBP BSC discussed the tion and its external stakeholders. internal & external communication exercises, participants were able to developing teams and work various personal and professional innovation in the ﬁnancial services The expanding ﬁntech ecosystem
crucial part of putting organization- importance of change manage- Around 70 participants from differ- including ofﬁce letters & memos, hone their data handling skills and cultures that are both adaptable situations. Overall, this training was industry. Mr. Azwar conducted an has led to increase in the demand
al change into practice is getting a ment, how it can be implemented, ent ofﬁces of SBP BSC attended email etiquettes, report writing create with their own dashboard and engaging despite the challeng- both informative and inspirational interactive session for the partici- for professionals with expertise in
buy-in from employees across the and the beneﬁts it can bring to an this training program. techniques, recording minutes of reports by the end of the program. ing circumstances, NIBAF Lahore for the employees. Around 85 pants explaining Blockchain and digital technologies, programming
organization. Recognizing this, organization in the context of the meetings etc. Trainer discussed the The trainer shared useful feedback organized three iterations, both F2F participants from SBP, Commercial Cloud Computing as an emerging and data science within the bank-
NIBAF designs and offers trainings Vision and Mission of SBP BSC. Mr. Business Writing & Reporting principles of effective communica- and tips on the dashboards devel- and online, over the period. Dr. Banks and different ofﬁces of SBP innovative technology, its scope to ing sector also. In order to meet the
on Change Management to enable Bhatti also stressed the signiﬁcance Skills tion that cuts through ambiguity, oped by participants to further Hanif Mohammad, a renowned BSC attended these programs. improve the delivery of ﬁnancial demand for this skillset, NIBAF-La-
employees embrace change and of the “people” factor in the change confusion, and redundancy. Partici- improve their efﬁcacy. Around 12 corporate trainer and consultant services, and innovative ideas for its hore organized two iterations of the
enable the management to management process and encour- Effective communication is the pants drafted content for different participants from different ofﬁces specializing in Strategy, Business Driving Innovation in Financial integration in traditional banking one-day online program on the
manage and channelize employ- aged participants to focus on devel- cornerstone of any successful business scenarios requiring of SBP BSC attended this program. Management and Human Services: Exploring Blockchain processes. The key topics covered topic on April 13, 2023 and June 14,
ees’ varied reactions from avoid- oping the skill set that will be business, and this program focuses relevant form of written communi- All the participants appreciated the Resource Management, led the and Cloud Technology during the session included an 2023. Mr. Ahmed Sumair, Joint
ance and denial to being fully required in coming days. He on enhancing writing and report- cation and practiced different training and rated it to be an excel- program emphasizing the impor- overview of connection between Director, Payment Systems Policy &
invested in the new ways. These emphasized that by enhancing ing skills of SBP BSC ofﬁcials. This exercises to apply their learnings to lent learning experience. tance of Emotional Intelligence and Disruptive technologies are driving Cloud Computing And Digital Inno- Oversight Department conducted
trainings prepare and sensitize one’s ability to manage change, comprehensive training program is the actual work environment. its effect on one’s personal and business model reinventions glob- vation, Cloud-based Innovation the program on “FinTechs”, exten-
employees to be mindful of regular everyone can play an important role designed to teach the different Around 16 participants from differ- Emotional Intelligence (EI) professional lives. Dr. Hanif did an ally especially within the ﬁnancial Strategies, Concepts Of Decentral- sively discussing use cases in the
and transformational changes, to ensure that SBP BSC remains at techniques that can be used to ent ofﬁces of SBP BSC attended excellent job in presenting the core sector with the mainstreaming of ization, Block Chain and Distributed ﬁnancial services industry quoting
discuss the ongoing and expected the forefront of innovation and improve composition style, gram- this program. Participants appreci- Today’s employees operate in a concepts of Emotional Intelligence the technologically driven experi- Ledger Technology (DLT), digital instances of successful bank &
changes, to set the tone for employ- growth. The trainer also had shared mar, punctuation, and tone in ated the trainer’s efforts and guid- challenging work environment with relatable examples and ences. On the one hand customers currencies and smart contracts, ﬁntech partnerships. The key topics
ees and avoid any negative impact reading material and group work writing. This program is tailored to ance for improvement in their fraught with rapid changes in conducting practical exercises to expect process transformations, cloud-based innovation platforms , covered during the session includ-
from surprise and to convey man- before the start of the program for a equip the necessary skills to express writing style to align it with the systems and workﬂows, pressures help the participants recognize automations and innovative service overview of cloud architecture and ed the characteristics and types of
agement assurance of full support preliminary warm-up to the session in a clear, concise, and coherent organization's standards of main- delivery, and on the other the networking, overview of cloud-na- FinTechs, disruption in the global
to every one throughout the contents. He addressed various manner for varied communication, taining clarity, professionalism, and changing competitive landscape of tive applications and micro services, ﬁnancial landscape and challenges
change process. queries of the participants on the internal or external. effectiveness in communication. the ﬁnancial sector vouches for , overview of server less computing, from Neo Banks to the legacy
future direction of SBP BSC and transformation of business opera- its beneﬁts, use cases and its role in ﬁnancial institutions, Artiﬁcial Intel-
In order to support developing an Data Analytics, Power BI & tions through integration of emerg- innovation, cloud-based artiﬁcial ligence & Machine learning for
agile workplace, a systematic Dashboard Reporting ing technologies. intelligence and machine learning, FinTechs, regulatory landscape of
approach is being followed to cloud security and privacy. Mr. FinTechs in Pakistan, scope of func-
manage enterprise-wide change in This training program has been In order to apprise participants on Azwar also held a detailed discus- tions of top FinTechs Operating in
SBP and its subsidiaries that starts structured to provide a comprehen- the key emerging technologies, sion on “Block Chain solving all Pakistan and Fintech Sandboxes.
with sensitizing and preparing sive overview of Data Analytics, one-day online training was problems under the sky!”. Case Mr. Sumair conducted an interac-
employees to the expected trajec- Power BI, and Dashboard Report- conducted on the topic by Mr. studies related to Block Chain and tive program keeping the partici-
tory of the organization and the ing tools to help participants com- Hassan Azwar on April 11, 2023. Mr. Future Trends with respect to Paki- pants engaged throughout the
evolving roles and expectations plete their day-to-day assignments Hassan Azwar is a seasoned tech- stan were also shared along with session with interesting discussions
from the teams. Hence, NIBAF with efﬁciency. Mr. Sohaib Jamal, an nologist currently serving as Cloud-based Digital Innovation Use on use cases, global and local case
regularly offers trainings to build expert corporate trainer in the area, Deputy Director in the Payment Cases. Around 28 participants from studies, articles and short videos on
necessary capacity to instill readi- conducted this F2F program from Systems Policy & Oversight Depart- ofﬁces of SBP, SBP BSC and other ﬁntech concepts and experiences.
ness to assimilate expected chang- March 16-17, 2023 at NIBAF-Lahore ment of SBP. He holds a Master's ﬁnancial institutions attended the Around 50 participants from SBP,
es in workﬂows and behaviors to with the support of practical exam- degree in Cyber Security and is program. different ofﬁces of SBP BSC, and
support further innovation, organi- ples. Mr. Jamal covered the techni- certiﬁed as a PMP®, CISA, CISM, other banks attended the two itera-
zation growth and career advance- cal aspects of data analytics in CRISC, and API Security Architect tions of the program.
ment of its employees. detail while also emphasizing the with expertise in cybersecurity,

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