About IABFM
Press Releases for the year 2016
Press Releases issued by the Academy, by members and partners in 2008-2009 appear below.
Press Releases generally approved for release on the association websites include:
- News about the membership
- Announcement of events for members and candidates
- News about our members in the press where IABFM™ is mentioned
- Formal announcements
- Tie ups or collaboration with other associations or government bodies
- Changes to the board governance structure
If you have a press-release you would like displayed on the member's website, please submit to [email protected].
Termination of Agreement with African Management Conferences (AMC)
July 10, 2016
Termination of Agreement with African Management Conferences (AMC)
The Board of Management of the IABFM wishes to advise its members that it has terminated the rights of AMC to promote and stage any IABFM programs operative from the 1st July, 2016. This means that AMC no longer has the rights to market any IABFM program.
This decision was not taken lightly given that AMC has promoted IABFM programs for a number of years in Southern, Eastern and Western Africa. However, it became evident to our Management that this action was necessary in order to protect the interests of our members. You are probably aware that when delegates attend any of the IABFM programs that part of the attendance fee includes payment for membership of the IABFM. Since 2014 these fees along with some other fees, which were collected by AMC on our behalf, have not, in many instances, been remitted to the IABFM. We are aware that delegates paid these fees in good faith and have, in all instances, honoured applications from any program attendees and will continue to do so. AMC has given a number of undertakings that these amounts will be forwarded but these undertakings have not been met.
The IABFM is a not for profit membership based organisation that only derives income from its certifications and is not in a position to provide extended credit to its providers. This point was made to AMC management numerous times but to no avail. It is for this reason that we have taken this unprecedented action and terminated the relationship with AMC.
Since the 1st July we have put in place a number of processes that ensure the continuity of availability of our programs. We are confident that these will provide an enhanced opportunity for you to continue to have access to the best trainers and best training programs available in Africa in both public and in-house programs.
The International Accounting Standards Board (IASB), the Indonesian Financial Services Authority (OJK) and the Institute of Indonesian Chartered Accountants (IAI) met in Jakarta on the 24th -26th May, 2016. The outcome of the meeting was that Indonesia is developing its plans for convergence with the full IFRS standards. There is no specific timeline established for the convergence to occur although it is likely to take some years. Indonesian GAAP has, since 2009, been adopting new IFRS standards but with a lag of a year so there has been some commonality of approach. We would anticipate that financial institutions, as with many other adoptee countries, would be the first industry required to adopt the IFRS.
Although this appears to be some time into the future some of the complexities of new standards, for example IFRS 9 due for adoption in 2018, are such that there is significant preparatory work to be completed in advance. Hopefully companies will also be given the option of whether to use the full IFRS or opt for the simpler IFRS for SMEs.
The IABFM has developed training programs to assist adoptees prepare for the introduction of the IFRS, whether they are the full IFRS or the IFRS for SMEs. If you need assistance then contact us at: [email protected]
The competitive banking environment in emerging economies has resulted in greater pressure for banks to perform better and to provide a broader range of services to the community. At the same time shareholders and other stakeholders are expecting the banks to show a better return so that they obtain a greater return.
The dilemma faced by banks is to align their strategy to meet the varying objectives dictated by government, shareholders and other stakeholders. The IABFM is aware of these, often conflicting, demands and has developed a suite of what we call “Beyond Banking – Creating Competitive Advantage” programs. Although the programs are designed for the general banking community they are also particularly relevant to the emerging economies where major banks are seeking to optimise their methods of operations. These programs provide state-of-the-art approaches to some of the everyday issues of the alignment of strategy to operational outcomes. The programs vary from 3 to 5 days and were designed by professional bankers from Europe, Far East Asia and the Middle East. They address issues such as designing innovative mortgage products, maximising branch profitability, creating online banking, management of product development, financial services distribution channels, relationship management and customer relations. All of these programs are available for in-house presentations.
More information about each of the programs can be seen in the Banking programs. Alternatively further information can be obtained from [email protected].