OUR HISTORY
FORMATION
In the 1970’s and 1980’s the acceptable education level for employment in the banking industry, generally, was Form 6 and above. However with technological and other enhancements, professional sofistication in banking service levels, and abundant availablity of tertiary-standard manpower resources over time, the entry point progressively rose to diploma and even degree status qualifications.
A need was thus identified by banks to train and develop their respective existing personnel to meet the growing demands and expectations of the industry.
The Fiji Institute of Bankers (FIB) was formed in December 1991 and established as a registered Association under the requirements of the Industrial Associations Act in January 1992 to fulfill this need.
The Institute commenced dialogue with the University of the South Pacific (USP). In the absence of a formal agreement however, the Chair of Banking was established on the basis of an exchange of written communication in which financial and academic commitments were made in general terms at the initial stages and more specific after the formation of the Fiji Institute of Bankers. It is believed that Government approval was given through RBF although no records of this endorsement exist.
As part of its undertaking the Institute funded the establishment of the Chair of Banking, and bankers began undertaking appropriate courses of study in banking and finance related subjects. The FIB continued to provide funding for its operations for five years.
A review of the activities and achievements of the Chair and its effectiveness was then undertaken. However there was no commitment recorded on part of the Institute that it could continue to avail funds beyond this period.
Although the funding arrangement by FIB has ceased, the USP has since developed the faculty into a powerful medium of learning.
STRUCTURE
The management structure of the Institute and its principle functions were determined after considerable research with similar overseas organisations, and early available records of this activity seem to indicate that the intention of the Institute was to formulate policies and directives which in broad terms would be designed to achieve its objectives at a local level. The administrative structure of FIB is explained in detailed elsewhere in this website.
FUNDING
The management structure of the Institute and its principle functions were determined after considerable research with similar overseas organisations, and early available records of this activity seem to indicate that the intention of the Institute was to formulate policies and directives which in broad terms would be designed to achieve its objectives at a local level. The administrative structure of FIB is explained in detailed elsewhere in this website.