Chartered Banker Institute Welcomes Three Truths...

PARN Global News Article - 2 October 2015

Chartered Banker Institute Welcomes Three Truths for Finance

Chartered Banker Institute Welcomes Three Truths for Finance

The Chartered Banker Institute has welcomed The Governor of the Bank of England, Mark Carney’s recent speech ‘Three Truths for Finance’.

In his speech Mr Carney stated: “Individuals need to be held more to account for their actions. Doing so will require new common standards, cast in clear language, better training and higher qualifications, and ways to ensure that when employees are fired, their history is known to those who consider hiring them.”

Founded in 1875 and as the oldest professional banking institute in the world, the Institute believes it is well placed to support the Governor’s call for better training and higher qualifications. It currently has around 25,000 members and, with 6,500 new student enrolments this year, the Institute sets the benchmark for professional and education standards in banking, working in collaboration with individual members to maintain its standards.

Simon Thompson, Chief Executive of the Chartered Banker Institute, commented: "The Institute and our members have long campaigned for bankers to be professionally qualified at a high level, and have consistently argued for regulators and banks to focus as much attention on rebuilding the industry's human capital as on rebuilding its financial capital. It is pleasing to see a recognition of the importance of qualifications and training at the highest level. Only highly qualified, technically competent bankers can ensure positive outcomes for their customers and for society - being a 'good' person isn't enough without the ability to understand the consequences of decisions."