115 Years of history, the early vision of the Institute was to form a body to educate bankers, as described by Mr. Mackenzie (the 1st
President of IOBSA) as “a kind of Banking Club, where stimulants should be of an intellectual nature; a feast of reason and a flow of soul”.
The Institute of Bankers in SA is the Sole professional body for Bankers and Financial Services Professionals in the Financial sector recognised by the South African Qualifications Authority (SAQA) under The NQF Act No. 67 Of 2008 – 19 March 2013
Established in 1904, the institute of Bankers in South Africa (IOBSA) is a member driven, member centric Professional Body that exists for members that seek a career in the Banking and Financial Services sector. This includes offering of professional designations, the monitoring of a code of professional conduct and the delivery of carefully designed and monitored Continuous Professional Development (CPD) programmes through approved CPD service providers.
The role of the IOBSA has changed over the years.
Standard Bank institute: A self-organising society of bankers
A motion was passed by the council of Standard Bank Institute to establish the Institute of Bankers in SA representing the following institutions: Bank of Africa, the African Banking Corporation, the National Bank of Netherlands and the Standard Bank. The first curriculum was modelled on the English and Scottish Institutes
The institute broke new ground by introducing the Banking School
Registered coat of arms: institute motto “Finis coronat opus” translated “The end crowns the work”. IOBSA introduced a new membership category for Fellows (FIBSA)
Introduced the Licentiate and Associate Diploma
The first in the world to introduce the concept of modular education structure
The Institute hosted the 13th World Conference of Banking Institutes in Cape Town.
New legislative changes would position the Institute as the Education and Training Qualifications authority within the banking sector
To further streamline the functioning of the Institute, the Council approved the move for the Institute to operate under the articles and memorandum of a Section 21 Company
The IOBSA received recognition from the South African Qualification Authority (SAQA) as the Professional Body for Bankers in the Financial sector under the NQF Act No. 67 Of 2008
ReferencesThe Institute of Bankers in South Africa , n.d. Minutes of Council meetings and other material from the Institutes archives. s.l.:s.n.The Institute of Bankers in South Africa, 2007. SA Banker. Changing a 103 year Brand, pp. 8-9. The Institute of Bankers in South Africa, 2004. SA Banker. Celebrating 100 years of Serving the Banking and Financial services industry , 101(2), pp. 6-23.