Update on AICB’s New Chartered Banker Framework — Modules, Programme Fees and System Upgrade

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Update on AICB’s New Chartered Banker Framework — Modules, Programme Fees and System Upgrade


19 Jan 2022

Following our 24 November 2021 announcement, “Transition Guidelines for AICB’s New Professional Education and Membership Framework”, we are pleased to share further information on AICB’s New Chartered Banker (CB) Membership and Qualification Framework (CB Framework). Kindly note that the new CB Framework will be implemented in June 2022, and enrolments for its qualifications will commence simultaneously.

Please find below the newCB Framework (Diagram 1).

A. Introduction of New Regulatory Compliance Modules

AICB is pleased to introduce two new modules on regulatory compliance in the new CB Framework, developed in collaboration with the Asian Banking School (ABS) (Diagram 2):

Diagram 2: New Regulatory Compliance Modules Offered in the New CB Framework

More details on these modules will be available in March 2022.

B. ICA Programmes Recognised by AICB as Equivalent to Chartered Banker Modules

The International Compliance Association (ICA) programmes recognised by AICB as equivalent to Chartered Banker Modules are detailed below (Table 1). Effective from the February 2023 intake, kindly note that members who register for these ICA programmes are required to complete the compulsory module — Professionalism and Ethics (PET) — to be awarded the Specialist Certificate.

SpecialisationChartered Banker ModulesICA Programmes
Anti-Money Laundering /
Counter Financing of Terrorism
L1: Certificate in Anti-Money Laundering & Counter Financing of TerrorismL1: Certification in Anti-Money Laundering / Counter Financing of Terrorism
L2: Anti-Money Laundering & Counter Financing of Terrorism PracticesL2: Advanced Certification in Anti-Money Laundering / Counter Financing of Terrorism
Regulatory ComplianceL1: Certificate in Regulatory ComplianceL1: Certification in Regulatory Compliance
L2: Regulatory Compliance PracticesL2: Advanced Certification in Regulatory Compliance

Table 1: ICA Programmes Recognised by AICB as Equivalent to Chartered Banker Modules

C. Programme Fees

Fees for modules in the new CB Framework are as follows (Table 2), effective June 2022:

Programme LevelModuleWorkshop
Fees**(RM)
ModuleExam resit

Assignment
retake/
resubmission

Level 1
Foundation

Certificate in Financial Services (CFS)2,800700N/A
Certificate in Credit (CCR)2,800700N/A
Certificate in Anti-Money Laundering & Counter Financing of Terrorism (CAM) — formerly CAMEX3,400#700N/A
Certificate in Regulatory Compliance (CRCOP)4,000700N/A

Level 2
Specialised

Professionalism and Ethics (PET)3,200850N/A
Bank Audit Practices (BKA)3,200850N/A
Bank Risk Practices (BKR)3,200850N/A
Bank Business Credit Practices (BBC)3,200850N/A
Bank Retail Credit Practices (BRC)3,200850N/A

Anti-Money Laundering & Counter Financing of Terrorism Practices (SCAM) — formerly CAMCO

4,000#500350
Regulatory Compliance Practices (RCOP)5,000500350

Level 3
Chartered Banker

Bank Risk Management (BRM)5,000N/A1,000
Commercial Lending (COL)5,000N/A1,000
Bank Strategy, Operations and Technology (SOT)5,000N/A1,000

Table 2: Programme Fees in the New CB Framework

**Fees paid are non-refundable and subject to 6% Service Tax.
#Applicable for 2022 only. Fee will be reviewed in 2023.

D. AICB’s Integrated Membership and Qualification Management System (IMQS) Upgrade

To accommodate the new CB Framework, AICB’s Integrated Membership and Qualification Management System (IMQS) will undergo upgrades and enhancements in two stages, during which AICB’s Member and Corporate Portals will be inaccessible.

All portal users are advised to take note of the following dates on which the respective portals will be inaccessible and make the necessary arrangements prior.

1. Member Portal

No.

Services UnavailableStage 1Stage 2
1

Qualification Enrolment

Note: The enrolment closing date for the May 2022 exam sitting is 20 March 2022.
1–10 April 2022
3–12 June 2022
2
Membership admission, renewal and re-admission
3
New module registration and exam re-sit registration
4
Access to online learning (study materials)
5
Sponsorship and payment requests
6
Access to e-Resources and CPD Diary updates
7
Event registrations
8
Extension of qualification time limit application
9
Amendments/updates for personal details or information
10
Exam bookings and delivery

No interruption — members can make bookings and sit for online examinations via the Chartered Banker Institute’s (CBI) portal.

Table 3: Member Portal Services That Are Unavailable During the IMQS Upgrade

2. Corporate Portal

No.

Services UnavailableStage 1Stage 2
1
Membership admission, renewal and re-admission
1–10 April 2022
3–12 June 2022
2
Sponsorship approvals and payment requests
3
Report generation

Table 4: Corporate Portal Services That Are Unavailable During the IMQS Upgrade

For enquiries, please contact our Member Services team at [email protected] or call 1300-88-6833 / 03-2602 6833.

Note: The information provided above is correct as of the publication date.

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