Membership

ELIGIBILITY

Persons eligible to become members of the Institute are primarily those in the employment of:-

  • Commercial Banks locally incorporated,
  • Foreign-owned Commercial Banks conducting businesses in Fiji,

but now also include persons employed by:-

  • Registered Merchant banks,
  • Foreign-owned Commercial Banks conducting businesses in Fiji.

Membership of persons from other institutions bodies and organisations is at the discretion of the Committee of Management, and prior attainment of academic qualifications is not an admission pre-requisite.

ACCREDITATION GRADES OF PROFESSIONAL QUALIFICATIONS:

Upon commensurate to appropriate qualifications there may be four or more grades of professional accreditation bestowed by the Institute. Currently these grades are:-

(i) Certificate (CFIB): being those with three (3) years’ experience in the industry, have satisfactory completed the recognised qualifications in terms of Certificate offered by tertiary or fellow institutions recognised by the Institute. The approval of applications for this Grade shall be at the discretion of the Committee of Management.

(ii) Associate (AFIB): being those with at least three (3) years’ experience in the industry, have satisfactory completed the recognised qualifications in terms of Diploma and Degree offered by tertiary or fellow institutions recognised by the Institute. The approval of applications for this Grade shall be at the discretion of the Committee of Management.

(iii) Senior Associate (SAFIB): being those with at least five (5) years’ experience in the industry, have satisfactory completed the recognised qualifications in terms of Diploma and Degree offered by tertiary or fellow institutions recognised by the Institute. The approval of applications for this Grade shall be at the discretion of the Committee of Management.

(iv) Fellow (FFIB): being those of Senior Associate status who have had at least fifteen (15) years’ experience in the industry and have five (5) years’ experience at managerial levels. The applications for this Grade shall be considered for approval by the Executive Council on the recommendation of the Committee of Management.

A member who is awarded the above Grades shall be entitled to use the distinguishing accreditations CFIB, AFIB, SAFIB, FFIB and FFIB (Hon) after his/her name. This privilege shall immediately terminate on ceasing to be a member of the Institute. However, the exceptions are where a person was formerly a Certified Associate or Fellow Associate may be re-admitted to membership under provision 10 and provision 11(c) of this constitution.

 

HONORARY MEMBERSHIP

The Institute shall have the powers to elect honorary members. The following honorary accreditations are presently bestowed by the Institute:

(a) Honorary Life Members

Honorary Life Membership for distinguished services rendered to the Institute may be conferred upon any FIB member, on the recommendations of the Committee of Management and with the approval of the FIB council.

(i) Upon the recommendation of the Committee of Management, and with the approval of the FIB Council, the Honorary Life Membership may be conferred upon a person who has been a financial member of the FIB for thirty (30) years.

(ii) Life Membership shall be conferred by the Committee of Management upon any FIB member on payment of twenty (20) times the general member’s subscription rate applicable at the time of payment.

(b) Honorary Fellow

An “Honorary Fellow” of the Institute may be conferred by the Council upon any person for distinguished and meritorious service either to the Institute or to Fiji’s Banking and Finance Industry on the recommendation of the Committee of Management. Once pronounced, the Honorary Fellow will remain as one for life.

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RATES

FIB’s Constitution empowers the Committee of Management to determine its entrance, subscription and membership or other fees or levies from time to time. However, there is presently no entrance fee payable. The initial membership commences from the “General Member” status and upgrades are granted along the lines mentioned below:-

Subscriptions are payable directly to the Institute by cheque (cash applies
to hand delivered applications only).

For the time being the annual subscription rates are as follows:-

GENERAL Member $15-00
CERTIFICATE Member (CFIB) $20-00
ASSOCIATE Member (AFIB) $25-00
FELLOW Member (FFIB) $30-00