AICB’s New Professional Education and Membership Framework: Frequently Asked Questions (FAQs)
1. What is the entry requirement for each level under the new Chartered Banker (CB) Framework?
The entry requirement for each level under the new CB Framework is as follows:
- Level 1 – Minimum SPM or the equivalent
- Level 2 – Completed Level 1
- Level 3 – Completed Level 2.
2. Will I be able to apply for exemptions under the new CB Framework?
Exemptions may be considered for modules in Levels 1 and 2 if a member fulfils the requirements under the Recognition of Prior Learning (RPL) and Recognition of Prior Experiential Learning (RPEL) schemes. For clarity, RPL assesses an individual’s formal learning to determine the extent to which that individual has achieved the required learning or competency outcomes, while RPEL assesses the relevant skills and knowledge acquired through work experience and trainings, or other external qualifications. The outcomes of these assessments will determine whether a member is eligible for the exemption requested.
Further information on exemptions will be communicated in August 2021.
3. Am I required to be an AICB member before enrolling for a qualification under the new CB Framework?
Yes, all individuals are required to be an AICB member to enrol for a qualification under the new CB Framework.
4. When can I start submitting my applications for qualifications under the new CB Framework?
You may submit your application from June 2022 onwards via the AICB Member Portal.
5. May I enrol for a qualification programme under the new CB Framework at any time of the year?
Yes, applications are accepted throughout the year for most qualifications. However, certain qualifications, such as those developed in collaboration with our programme partners, the Asian Banking School (ABS) and the International Compliance Association (ICA), have specific registration periods. Please view the enrolment and examination schedules on AICB's website before submitting your application.
6. How different is the new CB Framework from the current CB Framework?
The main difference between the old and new frameworks is that the specialised qualifications are now part of the CB Framework. The new CB Framework reflects a new qualification structure and new / revised modules introduced at Levels 1, 2 and 3. There are also changes to the entry requirements and assessment structures for qualifications, as well as membership designations, among others. New or revised learning materials will be made available.
The new CB Framework offers the following benefits:
- A faster route to achieving the Chartered Banker status, from 9 modules in current curriculum to 5 modules in the new curriculum.
- Specialist qualifications at Level 2 of the CB Framework, which lead to the Associate Chartered Banker status.
- An updated syllabus, refreshed to include emerging developments.
- The introduction of an Ethics module in the Specialist level (Level 2), which enables members to combine their technical knowledge with an understanding of professional ethical behaviour at the workplace.
- The Certificate in Financial Services (CFS), which provides a broad understanding of the banking sector at the Foundation level (Level 1)
- An application-based assessment, which enables members to apply the knowledge learnt in the workplace.
For more information on the benefits of the new CB Framework, please click here.
7. Upon completing a Level 1 qualification under the new CB Framework, may I enrol for any specialised qualifications?
Yes, you may enrol for any of the qualifications under the Specialist level (Level 2) upon completing Level 1.
8. Is there a time limit to complete a qualification under the new CB Framework?
Yes, the time limits to complete qualifications under the new CB Framework are as follows:
- Foundation (Level 1) – 12 months
- Specialist (Level 2) – 36 months
- Chartered Banker (Level 3) – 48 months.
Each module within a qualification must be completed in 12 months, failing which the member will be required to re-register for the module.
9. What is the assessment structure and mode for qualifications in Levels 1, 2 and 3 under the new CB Framework?
The types of assessments vary from one module to another, and include multiple-choice questions (MCQs), written examinations, and / or assignments. For more details on the assessment structure, please click here.
10. What are the membership designations under the new CB Framework?
The membership designations under the new CB framework are as follows:
- Affiliate Member – applicable to members who are pursuing OR have completed the Foundation level (Level 1).
- Associate Chartered Banker – applicable to members who have completed the Specialist level (Level 2).
- Chartered Banker – applicable to members who have completed the Chartered Banker level (Level 3).
11. May I use my membership designation if my membership with AICB has expired?
Membership with a professional body is an added value proposition and a mark of public recognition and commitment to ethical conduct. Upon completion of a qualification, members must maintain a valid membership with AICB and adhere to AICB’s Code of Professional Conduct and Continuing Professional Development (CPD) requirements.
12. What are the fees for the modules under the New CB Framework?
The fees for qualifications under the new CB Framework will be announced in October 2021.