Update on AICB Membership Regulations


Amendments have been made to the following regulations:

  1. Membership Admission, Resignation, Cessation and Re-admission Regulations
  2. Continuing Professional Development (CPD) Regulations
  3. Fees and Subscription Regulations.

The key changes are as follows:

Items Regulation Amendments
1 Membership Admission, Resignation, Cessation, and Re-admission Regulations 3.2 Admission as Affiliate

A person shall be eligible for admission to membership as an Affiliate if he:

  1. holds an acceptable qualification for entry to any of the examinations of the Institute; or
    • Executive Banker
    • Professional Banker
    • Chartered Banker
    • Certified Credit Executive
    • Retail Credit Professional
    • Business Credit Professional
    • Certification in AML/CFT
    • Advanced Certification in AML/CFT
    • Certified Professional in AML/CFT
    • Certification in Regulatory Compliance
    • Bank Risk Management
    • An Introduction to Ethics in Banking

    OR

  2. has passed or been granted exemption from any of the examinations of the Institute but has not satisfied the practical experience or other requirements for admission to membership as an Associate or Chartered Banker; or
  3. employee and former employee of financial institutions, as well as individual who intend to pursue a career in banking.
2 Membership Admission, Resignation, Cessation, and Re-admission Regulations 3.3 Admission as Associate

A person shall be eligible for admission to membership as an Associate if he:

  1. has passed any of the following examinations of the Institute and completed at least 3 years of approved practical experience:
    • Professional Banker
    • Retail Credit Professional/Business Credit Professional
    • Advanced Certification in AML/CFT
    • Certified Professional in AML/CFT
    • Bank Risk Management
    • Advanced Certification in Regulatory Compliance
    • Certified Credit Professional

    OR

  2. is a current Ordinary Member or International Member in good standing of FMAM [Persatuan Pasaran Kewangan Malaysia (ACI – Financial Markets Association of Malaysia)], has passed the Pasaran Kewangan Malaysia Certificate (PKMC) examination.
3 Membership Admission, Resignation, Cessation, and Re-admission Regulations 3.5 Admission as Chartered Bankers

A person shall be eligible for admission to membership as a Chartered Banker if he:

  1. has passed the Chartered Banker examination and has at least 10 years of core banking experience (refer to Appendix 1); or
  2. is a qualified member of:
  • the Chartered Institute of Bankers in Scotland (CIOBS); or
  • the Hong Kong Institute of Chartered Bankers (HKICB).

Any person admitted as a Chartered Banker is required to maintain his membership of both AICB and CIOBS.

4 Membership Admission, Resignation, Cessation, and Re-admission Regulations 3.6 Advancement to Fellow

A Chartered Banker may apply for advancement to the status of Fellow if he:

  1. has been a Member of the Institute for a continuous period of at least 7 years and has had a total of at least 15 years of core banking experience, of which at least 5 years must be in a senior management capacity; and
  2. has satisfied the Council as to his fitness to become a Fellow which includes:
  • providing evidence of core banking experience such as testimonials from the employer;
  • providing evidence as to Continuing Professional Development (CPD) which he has undertaken.
5 Membership Admission, Resignation, Cessation, and Re-admission Regulations 5.2 Practical Experience Requirements

All applicants for admission to membership as an Associate or a Chartered Banker must demonstrate that they have completed the prescribed period of practical experience in banking and financial services as set out in these regulations, in addition to having passed the relevant professional qualification examinations.

6 Membership Admission, Resignation, Cessation, and Re-admission Regulations 7 Professional Designation

7.2 An Individual Member is entitled to use the professional designation only if he remains a current Member of the Institute and complies with the Continuing Professional Development requirements as set out in the Regulations.

7 Membership Admission, Resignation, Cessation, and Re-admission Regulations 12 Re-Admission to Membership

12.1 Any person who has resigned or ceased to be a Member may apply for re-admission provided that he has paid any outstanding amount due to the Institute, including any fine and/or costs imposed as a result of disciplinary action, and has satisfied any other requirements as the Council may prescribe.

12.2. A person seeking re-admission as a Member following suspension or exclusion from membership by virtue of an order made by a Disciplinary Committee or an Appeal Committee must satisfy the Council that all the conditions as laid down by the Disciplinary Committee or Appeal Committee (as applicable) have been satisfied. In particular, where an order for exclusion from membership prohibits the person from applying for re-admission for a specified period, he may only apply for re-admission after the expiry of such period.

12.3. In the case of an applicant whose membership ceased by virtue of bankruptcy, he must satisfy the Council that he has been discharged or his bankruptcy has been recalled.

12.6 An applicant for re-admission to membership shall on application pay a re-admission fee equivalent to the total of the current year’s subscription and the subscriptions for the previous years (at the applicable subscription rates) during which his membership lapsed. In this regard:

  1. a full year’s subscription is due in respect of the year in which the resignation or cessation of membership occurred;
  2. where the applicant’s membership has lapsed for less than one year, the re-admission fee shall be equivalent to the current year’s subscription

For the avoidance of doubt, this regulation applies to resignation or cessation of membership that occurs after 1 September 2015. Where the resignation or cessation of membership occurred prior to 1 September 2015, the applicant is only required to pay the subscription for the year in which the application for re-admission is made.

8 Continuing Professional Development (CPD) Regulations 5 .CPD Requirements
All Members subject to mandatory CPD, must comply with the following minimum requirements for CPD:

  1. Members who hold a professional designation
    • at least 35 hours of relevant CPD activity in each calendar year, of which 20 hours must be structured CPD; and
    • at least 10 hours of the structured CPD must be in areas directly related to banking and 5 hours of the structured CPD in ethics.
  2. Members who hold a professional designation and who are Dual Membership Holders are required to undertake:
    • at least 38 hours of CPD activity in each calendar year in areas directly related to banking or finance: and
    • of this, at least 20 hours must be structured CPD programmes conducted or recognized by SIDC (Securities Industry Development Corporation) and 5 hours must be structured CPD in ethics.
  3. Members who do not hold any professional designation are required to undertake at least 5 hours of structured CPD on ethics every two years.
9 Continuing Professional Development (CPD) Regulations 7. CPD Declaration

7.1 All Members subject to mandatory CPD, save as set out in regulation 7.2, are required to complete a CPD declaration as to compliance with the CPD requirements. The declaration is to be submitted as follows:

  • Members who hold a professional designation are required to submit a CPD declaration annually by 31 January of the following year (e.g. the CPD declaration for the year 2017 should be submitted by 31 January 2018);
  • Members who do not hold any professional designation are required to submit a CPD declaration biennially by 31 January following the end of the biennium (e.g. the CPD declaration for the biennium 2017-2018 should be submitted by 31 January 2019).
10 Continuing Professional Development (CPD) Regulations

8. CPD Records

Members subject to mandatory CPD are required to record their CPD activities online in the membership portal on the AICB website. Members may record their CPD activities as and when they are undertaken and CPD hours earned can be recorded to the nearest half hour.

11 Fees and Subscription Regulation 3. Payment of Annual Subscription

3.3 Generally, there will be no refund of the annual subscription paid.

The revision of the regulations was largely influenced by the need to enhance and sustain a strong culture of ethical and professional standards for those engaged in the banking and financial industry, as well as individuals who intend to pursue a career in banking. The primary audience for the regulation are the existing Individual members of AICB and prospective members.

This is the second edition of the regulation, and replaces the first edition published on 1 September 2015 with immediate effect. The latest version of the regulations containing the amendments can be downloaded below:

For any enquiries on the above, please email membership@aicb.org.my or call 03-2095 6833 ext 180/182/123/157.