Page 43 - NIBAF-Training Matters January - June 2023
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efficient record-keeping, real-time
tracking of cases and system gen-
statements, borrowing product /
erated reports. Besides the digitiza-
Taxes and Levies (DLTL) Schemes
performance matching, banker’s /
first one-day online session
in the field.
IFRS-9 implementation, impact of
tion, SBP has also delegated some
exporter’s responsibilities / incentives,
for Trade Sector, Procedure for
conducted on January 25, 20
IFRS-9 on Financial Disclosures,
processes to banks including the
on-site verification process under
followed by a one-day F2F p
for
challenges
Lodgment and Effective Use of
implementation
The ninth iteration of the program
sub-allocation of EFS limits which is
was held at NIBAF-Lahore from
banks and further guidance.
on March 21, 2023. Mr. Khur
MS Excel
part-II and penalties charged / refund
further expected to rationalize the
under part-II. The session was very
Fayyaz, Deputy Director,
February 13-17, 2023. Experts from
processing time.
different organizations including
Participants from relevant depart-
Foreign Exchange Operation Units
Supervision Department-2, S
interactive with detailed clarification
SBP, SBP BSC, FATF, FIA, NAB,
on various queries of the partici-
of SBP BSC offices process exporter
well-str
a
delivered
ments of SBP and different com-
In order to apprise participants on
pants on the electronic procedures
NCTA, FBR, FMU and banks were
program sharing key insight
claims submitted by Authorized
mercial banks attended the session
key features of the scheme and the
digital frauds in the curre
was given by the trainer.
invited to share insights on different
which aimed to impart basic to
Dealers in respect of subsidy and
use of digital platform, an online
Regulatory perspective
capitalize and depend on technolo-
io to help bankers better u
Duty Drawback Schemes on behalf
intermediate level understanding
areas. Key areas covered included
on Fintech, Regtech and Suptech
gy-driven solutions. In order to give
session on the topic was conducted
Regulatory Framework on
of Federal and Provincial Govern-
regulatory regime & legal require-
stand the nature of the dig
of the new accounting model
an overview of key initiatives in the
on January 18, 2023. Mr. Adeel Khan,
under IFRS-9 and the changes
Proceeds Realization Certificate
ments to meet international stan-
ments as per instructions issued by
crimes and identify ways to
area, an online session on the topic
Deputy Chief Manager, SBP BSC
The financial services sector is
required to be implemented for
the relevant Ministry/Department.
their clients from financial
dards, SBP regulation & compliance
going through significant transfor-
Multan conducted the program
was conducted on January 12, 2023
has
requirements for financial institu-
the
process
been
The trainer used real-life
compliance. Both the sessions were
When a customer receives funds
Since
and discussed EFS schemes in
by Ms. Saima Hameed, Joint Direc-
mation with the application of a
from abroad in his/her account in
attended by almost 60 participants
digitized, an online session covering
and case studies to demonst
tions ,basic concepts and typolo-
detail particularly focusing on
tor, Exchange Policy Department,
range of new technologies such as
the importance of a risk-ba
PKR, banks issue them a proof of
digitization of DLTL Schemes for
gies of money laundering , role of
from different offices of BSC, SBP
big data, artificial intelligence,
recent developments like electronic
SBP. The main topics covered
funds received called Proceeds
Financial Monitoring Unit (FMU)
and banks.
trade sector, procedure for lodg-
approach for managing digit
submission & approval of ERF cases
during the session included Regu-
cloud computing, block chain etc.
frauds. Widespread exercise
ment of claims and effective Use of
Realization Certificate (PRC). In
and Reporting Requirements , role
Opportunities and risks of new
and off-site monitoring role of SBP/
latory Regime on Inward Remit-
Advance Professional Certificate
MS Excel was conducted on Febru-
interactive activities furt
order to provide convenience to the
and investigations by Law Enforce-
SBP BSC after handing over the
tances, SBP Initiatives for promot-
entrants, new technologies, and
banking customers, SBP has also
ment Agencies, Trade Based
ary 21, 2023.
in AML & CFT (APCC- 9)
the participants to apply t
new strategies is leading the finan-
ing Home Remittance, Roshan
ERF operations to banks. He kept
Home Remittances
Money Laundering (TBML), Money
computing technology. Around 20
in
financial
especially
initiatives. Both the trainers effec-
ries learned in practical s
digitalized the process of the
mation
Digital Accounts & its affiliated
the participants engaged through-
cial sector policy makers and regu-
issuance and verification of such
participants from different offices
institutions that process and store
tively handled queries received
NIBAF’s five-day Advance Profes-
Laundering through correspondent
The training program highli
Syed Ali, Assistant Director, Foreign
lators to readjust their approaches.
Products, automated issuance &
out the session and discussed the
of SBP, SBP BSC and banks attended
vast amount of data on a daily basis.
sional
Certificate
Course
remittances
Exchange Operations Department,
Home
banking and the role of National
in
from participants which included
contribute
the importance of communica
PRCs. All Authorized Dealers are
verification of Proceeds Realization
underlying processes and bank’s
This reshaping of the regulatory
As cloud computing enables banks
SBP BSC conducted the session
Counter Terrorism Authority (NCTA)
between the operational fro
the training program.
significantly in Pakistan’s economic
Anti-Money Laundering & Combat-
required to issue and verify ePRCs
officers from banks and SBP.
role in detail. The main topics
and compliance landscape is also
Certificates, framework of digital
PRCs
to access their IT resources over the
in combating the financing of
starting the discussion with an
ing of Terrorist Financing has estab-
activities. Hence, SBP together with
the
Statement
and
of
staff and risk managemen
onboarding of merchants and
leading the financial institutions to
covered during the session includ-
IFRS 9-Accounting Model For
Risk Based Approach for
of banks and the need for
terrorism. practical case studies and
(S-PRCs). Under this automation,
overview of DLTL & Subsidy Schemes
the Government of Pakistan intro-
lished itself as comprehensive
internet, it can revolutionize banks
invest heavily in monitoring and
ed discussion on the importance of
customers, regulatory framework
certificate program for compliance
evening talks were also held on
Financial Instruments
Managing Digital Frauds
customer will receive an e-PRC
collaboration and more effe
by GoP, claims and process-flows
processes with regards to data
duces various policy initiatives,
of mobile banking account, security
compliance structures that use
Development Finance & Financial
instantaneously as soon as funds
strategies for addressing i
management and storage. Given
from time to time, to increase the
and assessment of claims, use of
professionals in the local financial
different areas including role and
Inclusion, specific tools used for
of digital payments and way
technology to satisfy regulatory and
An effective fraud risk manage-
flow of home remittances through
are credited in the account. Further,
the sensitivity of their data, banks
Regulatory Approval System (RAS)
secretariat
FATF
industry. This program has been
ingly complex digital fr
SBP has issued detailed guidelines
functions
of
compliance requirements.
promotion of different segments
forward for innovative banking
pakistan, SBP stance on digital
reduce risks for the banks.
ment creates an enterprise-wide
designed by NIBAF in close consul-
to banks on implementation of
must also be fully aware of the Cloud
Portal, usage of Pakistan Customs’
banks will also issue a S-PRC to their
formal channels and encourages
under the Development Finance
products. Sixteen participants from
International Financial Reporting
80 participants from SBP, b
Security and Privacy concerns and
currencies and ML/TF risks associat-
banks and exchange companies to
data, issues in processing of claims
customers mentioning all remit-
view to keep organization’s fraud
tation with market practitioners
spectrum, core indicators of Finan-
In order to give an overview of
SBP and foreign exchange officers
their proper mitigation.
risk within tolerance limits by incor-
and discrepancies in data and
stakeholders
relevant
and
all
and FinTechs attended the t
ed risks with crypto currencies.
home
mobilize
Standard 9 (IFRS-9) and financial
remittances
tances received by them from
FinTechs and its application in the
cial Inclusion and role of Export
from different financial institutions
through quality banking services
iterations conducted over t
including experts from SBP, SBP
documentation and effective use of
porating risk awareness, account-
abroad during the year.
reporting formats with tiered dates
Finance Schemes , specific objec-
attended the session.
local and financial sector an online
for implementation deadlines to
Excel tools and templates. It was a
In order to develop an understand-
ability, and transparency in all
Participants were rigorously evalu-
and marketing efforts.
BSC, FATF, FIA, NAB, FBR and FMU.
session on the topic was conducted
tive and scope of the EFS scheme,
very interactive session with many
Regulatory Perspective on D
ated throughout the session using
This course offers a unique combi-
facilitate the industry but has also
On the suggestion of the Pakistan
processes, implementing proactive
ing of cloud computing, its applica-
on January 10, 2023 by Mr. Shoukat
digitization of EFS Scheme, central-
Digitization of Export Refinance
Banking Fraud
encouraged early adoption of the
Banks' Association(PBA), a half-day
host of methods during various
controls to prevent frauds at the
queries from the participants which
tion in the banking sector and data
In order to build awareness and
nation of topics that builds on theo-
Schemes & their Operations
Director,
Additional
ization and E-Submission of EFS
Bizinjo,
capacity of remittance officers
online session on the topic was
activities and daily quizzes to
security concerns, an online train-
Mr. Ali addresses in detail. The session
retical and practical skills of partici-
outset while also putting in place
standards.
functions
&
Payment Systems Policy & Over-
delegated
cases,
working in banks and exchange
dynamic detection and control
arranged on January 19, 2023 to
ing program on Cloud Computing
was attended by participants from
While the digital methods a
pants enabling them to comply
ensure thorough understanding of
As a major step towards ease of
processes of EFS, roles & responsi-
sight Department and Mr. Rajeev
topic covered and certificates were
and its role in Driving Digital Inno-
systems to swiftly mitigate organi-
reinventing the payments
develop understanding of relevant
different offices of SBP BSC.
In order to support bankers transi-
companies, a one-day online train-
with applicable legal & regulatory
bilities of stakeholders after digiti-
doing business, SBP has digitized
Gulrajani, Deputy Director, Digital
vation was conducted on February
frameworks and adopt best practic-
tion to the new standards, signifi-
zational repercussions from fraud
awarded to successful candidates
tem in the country, they ar
ing program was conducted on the
officers in the area and to address
zation of schemes, Export Finance
Innovation
the process of obtaining refinance
and
Settlements
Cloud Computing and its role in
es in the context of the financial
after a comprehensive exam. Partic-
22, 2023. Mr. Hassan Azwar, Cyber
cant capacity building is required
their specific queries. The session
topic on January 20, 2023. Team of
incidents.
opening opportunities for
Department, SBP. The main topics
Scheme- Part I & Part II, limit alloca-
from SBP by banks under the
given the data challenges as well
delivered
by
was
sters, who are increasingly
trainers from Exchange Policy
Ms.
Saima
Security Expert at NACTA who has
Driving Digital Innovation
ipants from different offices of SBP
services industry. Evening talks on
tion under Part II, process of entitle-
Export Finance Scheme (EFS). The
covered during the session includ-
lack of required capacity in the area.
Hameed, Joint Director, Exchange
BSC and banks attended this train-
important topical areas in AML and
Department including Mr. Rashid
also been a part of digital financial
ing sophisticated methods f
In order to highlight key risks and
ed FinTechs and disruptions, back-
ment under Part II, documents
digitization is expected to reduce
preventive strategies in the area,
Cloud computing is a powerful
Mehmood, Senior Joint Director &
CFT further offer an opportunity for
Consequently, NIBAF continues to
banks
services team at SBP conducted
Policy Department, SBP. The main
and
defrauding
ing program.
ground
the turn-around time of processing
required for refinance loan under
and
categorization,
presenting
customers
the program. Since this was a new
technology that can play a critical
Ms. Paras Shah, Deputy Director
participants to interact and learn
different iterations on the topic,
regularly offer trainings on the
topics covered during the session
Part-II, discussion on EE-1/EF-1
the claims and also facilitate
FinTechs in Pakistan & Global
both online and F2F, have been
challenges in fraud mitigat
topic. Two online iterations of the
included introduction to PRCs,
delivered a comprehensive session
& technical topic, the trainer started
context, RegTechs & SupTechs, over-
discussing definition and scope of
program were conducted in Febru-
background and rationale for digiti-
from foundation level concepts and
view of international regulatory
home remittances, significance for
slowly progressed towards an inter-
ary-2023 and June-2023 by Mr.
zation, regulatory instructions for
cooperation initiatives and SBP
issuance and verification of PRCs
Fahad Bin Ammad, Joint Director,
mediate level discussion on key
developing economies and Paki-
initiatives regarding RegTechs &
and S-PRCs, eligibility criteria for
&
Banking
areas. He explained cloud-based
stan, overview of domestic home
Policy
Regulations
SupTechs. Around 26 participants
The
innovation strategies and platforms,
Department,
customers, standard format, proce-
trainer
remittances infrastructure, system
SBP.
from different banks and offices of
cloud-native applications and micro
constituents
dure for automated issuance and
and
stakeholders,
discussed the topic building upon
SBP BSC attended the program.
service and their use in creating
foundation level concepts to facili-
verification, steps to avoid misuse of
home remittances of Pakistan in
global and regional perspective,
violations
S-PRC,
more agile and responsive systems,
e-PRC
and
tate the participants and help them
Let's Be Compliant with SBP
challenges and opportunities for
observed across banking industry
use of Artificial Intelligence and
develop better understanding to
Digital Drive on FX Front
support successful implementa-
Machine Learning at scale with
recipient country/remitters/benefi-
and preventive measures to avoid
tion. He discussed the reasons for
ciaries, innovation and digitalization
penalization. Ms. Saima handled
cloud computing and innovative
The ongoing digitization in the
drive for promotion of home remit-
the queries very effectively and kept
replacement of IAS-39, changes in
applications in different industries,
banking sector is being witnessed
the classification and measure-
the participants engaged through-
tances, role of the Government,
securing data in the cloud and
in all aspects of banking operations
out the session. Participants also
implications of cloud-based innovation
ment of financial instruments
SBP, PRI and financial institutions
including the foreign exchange
expressed keen interest in the train-
on data privacy and governance. Mr.
under IFRS-9 and comparison with
in facilitating remittances, incentive
operations.
Policy
Exchange
Schemes for remitters and benefi-
Basel III- Regulatory treatment of
ing and sought clarity on practical
Hassan also facilitated online group
Department, SBP has launched
accounting provisions, elements of
ciaries, impact of measures taken to
issues experienced in the area.
activities with the help of break out
many projects and products that
the IFRS 9 Impairment Model for
promote remittances and new
rooms and discussed use cases of
for innovations & creative ideation, Financial Assets, SBP Instruction on from with top-notch practitioners Digitization of Drawback of Local role in catalyzing digital transfor- companies successfully utilizing cloud conducted by NIBAF-
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,
43 Training Matters | January-June 2023
