Industry-wide Commitment to Professionalise the Malaysian Banking Industry through Certification of Specialist Areas


In October 2017, the Member Banks of the Association of Banks in Malaysia  signed the second industry commitment with the Asian Institute of Chartered Bankers (AICB) to enhance the professional standards in the Malaysian banking industry through specialised certifications.

The commitment is to ensure all key personnel in critical job functions in the following areas have the relevant technical skills and expertise:

  1. Anti Money Laundering and Counter Financing of Terrorism (AML/CFT)
  2. Internal Audit
  3. Compliance
  4. Credit
  5. Risk Management

This requirement will take effect beginning January 2018. It was also agreed that 50% of the relevant staff should be certified by 2020 and 100% by 2022.

The Implementation Framework of the industry commitment is as follows:

Category Requirement
A. Specialised Function : Internal Audit 
Senior Management (C-suite)
  • To complete Chartered Banker or revised CIAFIN (Certification for Bank Auditor) within 5 years from effective date of:
    • 1 January 2018 for existing employees in audit function; or
    • Date of appointment (new joiners) or date assumed of audit function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • existing CIAFIN with at least 3 years of relevant audit experience; or
    • professional accounting or audit certification with at least 3 years of relevant audit experience.
  • Any other certifications should gain AICB’s accreditation and if eligible will be considered as a pathway to AICB’s membership.
  • To maintain professional designation and membership with AICB upon completion of certification:
    • Chartered Banker (CB); or
    • Certified Bank Auditor.
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on Internal Audit and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from Certification (to be approved by AICB) may be accorded in the following instance:
    • Senior Management with at least 15 years of audit or relevant experience inclusive of 5 years in C-1 position; or
    • Staff who possess professional or specialised certification in audit

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

Entry Level to Mid Level
  • To complete the revised CIAFIN (Certification for Bank Auditor) within 5 years from effective date of:
    • 1 January 2018 for existing employees in audit function; or
    • Date of appointment (new joiners) or date assumed of audit function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • existing CIAFIN with at least 3 years of relevant audit experience; or
    • professional accounting or audit certification with at least 3 years of relevant audit experience.
  • Any other certifications should gain AICB’s accreditation and if eligible will be considered as a pathway to AICB’s membership.
  • To maintain professional designation (Certified Bank Auditor) and membership with AICB annually.
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on Internal Audit and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from Certification (to be approved by AICB) may be accorded in the following instance:
    • Entry level – CIAFIN or professional or specialised certification in audit
    • Mid level – Professional or specialised certification in audit

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

B. Specialised Function : Risk Management 
Senior Management (C-suite)
  • To complete Chartered Banker or Bank Risk Management (BRM) certification within 5 years from effective date of:
    • 1 January 2018 for existing employees in risk function; or
    • Date of appointment (new joiners) or date assumed of risk function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • Possess professional certification such as Financial Risk Manager (FRM) or Professional Risk Manager (PRM).
  • Any other certifications should gain AICB’s accreditation and if eligible will be considered as a pathway to AICB’s membership.
  • To maintain professional designation and membership with AICB upon completion of:
    • Chartered Banker (CB); or
    • Bank Risk Management (Certified Bank Risk Practitioner)
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on risk and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from Certification: (to be approved by AICB) may be accorded in the following instance:
    • Senior Management with at least 15 years of risk management or relevant experience inclusive of 5 years in C-1 position; or
    • Staff who possess professional or specialised certification in risk management.

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

Entry Level to Mid Level
  • To complete the BRM certification within 5 years from effective date of:
    • 1 January 2018 for existing employees in risk function; or
    • Date of appointment (new joiners) or date assumed of risk function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • professional certification in risk management such as Financial Risk Manager (FRM) or Professional Risk Manager (PRM).
  • Any other certifications should gain AICB’s accreditation and if eligible will be considered as a pathway to AICB’s membership.
  • To maintain professional designation (Certified Bank Risk Practitioner) and membership with AICB annually.
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on risk and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from Certification: (to be approved by AICB) may be accorded in the following instance:
    • Staff who possess professional or specialised certification in risk management.

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

C. Specialised Function : Credit 
Senior Management (C-suite)
  • To complete Chartered Banker or Professional Credit Certification (PCC) within 5 years from effective date of:
    • 1 January 2018 for existing employees in credit function; or
    • Date of appointment (new joiners) or date assumed of credit function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • degree or professional qualifications and with relevant banking work experience.
  • Any other certifications should gain AICB’s accreditation and if eligible will be considered as a pathway to AICB’s membership.
  • To maintain professional designation and membership with AICB upon completion of:
    • Chartered Banker (CB); or
    • Certified Business or Retail Credit Practitioner.
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on credit and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from certification (to be approved by AICB) may be accorded in the following instance:
    • Senior Management with at least 15 years of credit or relevant experience inclusive of 5 years in C-1 position exercising credit authority; or
    • Staff who possess professional or specialised certification in credit.

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

Entry Level to Mid Level
  • Credit Origination to Recovery Functions to complete the Professional Credit Certification (PCC) within 5 years from effective date of:
    • 1 January 2018 for existing employees in credit function; or
    • Date of appointment (new joiners) or date assumed of credit function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • degree or professional qualifications and with relevant banking work experience.
  • Any other certifications should gain AICB’s accreditation and if eligible will be considered as a pathway to AICB’s membership.
  • To maintain professional designation (Certified Business or Retail Credit Practitioner) and membership with AICB annually.
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on credit and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from certification (to be approved by AICB) may be accorded in the following instance:
    • Staff who possess professional or specialised certification in credit.

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

D. Specialised Function : Compliance  
Senior Management (C-suite)
  • To complete Chartered Banker or Advanced Certification in Regulatory Compliance or a higher level certification in Compliance or any other specialised certification related to compliance (to be introduced by AICB at a later stage) within 5 years from effective date of:
    • 1 January 2018 for existing employees in compliance function; or
    • Date of appointment (new joiners) or date assumed of compliance function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • degree or professional qualifications with compliance work experience.
  • Any other certifications should gain AICB’s accreditation and if eligible will be considered as a pathway to AICB’s membership.
  • To maintain professional designation and membership with AICB upon completion of:
    • Chartered Banker (CB); or
    • Certified Practitioner – Compliance
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on compliance and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from Certification (to be approved by AICB) may be accorded in the following instance:
    • Senior Management with at least 15 years of compliance or relevant experience inclusive of 5 years in C-1 position; or
    • Staff who possess professional or specialised certification in compliance.

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

Entry Level to Mid Level
  • For entry level, to complete Certification in Regulatory Compliance; and for mid level, to complete Advanced Certification in Regulatory Compliance within 5 years from effective date of:
    • 1 January 2018 for existing employees in compliance function; or
    • Date of appointment (new joiners) or date assumed of compliance function; whichever applicable.
  • Accelerated Pathway is available for those who:
    • Possess degree or professional qualifications with compliance work experience.
  • Any other certifications should gain AICB’s accreditation and if eligible will be considered as a pathway to AICB’s membership.
  • To maintain professional designation (Certified Practitioner – Compliance upon completion of Advanced Certification in Regulatory Compliance) and membership with AICB annually.
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on compliance and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from Certification (to be approved by AICB) may be accorded in the following instance:
    • Staff who possess professional or specialised certification in compliance.

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

 E. Specialised Function : Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) 
Senior Management (C-suite)
  • To complete Chartered Banker or Certified Professional in AML/CFT Certification or any other specialised certification related to AML/CFT (to be introduced by AICB at a later stage) within 5 years from effective date of:
    • 1 January 2018 for existing employees in AML/CFT function; or
    • Date of appointment (new joiners) or date assumed of AML/CFT function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • Degree or professional qualifications with AML/CFT related work experience.
  • Any other certifications recognised by AICB and will be considered as a pathway to AICB’s membership.
  • To maintain professional designation and membership with AICB upon completion of:
    • Chartered Banker (CB); or
    • Certified Professional in AML/CFT: Certified Senior Practitioner – AML/CFT
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on AML/CFT and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from Certification (to be approved by AICB) may be accorded in the following instance:
    • Senior Management with at least 15 years of AML/CFT or relevant experience inclusive of 5 years in C-1 position; or
    • Staff who possess professional or specialised certification in AML/CFT.

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

Entry Level to Mid Level
  • For entry level, to complete Certification in AML/CFT; and for mid level, to complete Advanced Certification in AML/CFT within 5 years from effective date of:
    • 1 January 2018 for existing employees in AML/CFT function; or
    • Date of appointment (new joiners) or date assumed of AML/CFT function; whichever applicable.
  • Accelerated Pathway is available for those who possess:
    • Degree or professional qualifications with AML/CFT related work experience.
  • Any other certifications recognised by AICB and will be considered as a pathway to AICB’s membership.
  • To maintain professional designation and membership with AICB upon completion of Advanced Certification in AML/CFT: Certified Practitioner – AML/CFT;
  • To comply with the annual CPD requirement of 35 hours, of which 10 hours to be mandatory CPD on AML/CFT and 5 hours on Ethics.
  • 50% of relevant staff to be certified by 2020.
  • Exemption from Certification (to be approved by AICB) may be accorded in the following instance:
    • Staff who possess professional or specialised certification in AML/CFT.

Note: Recommendation for exemptions to AICB must be approved by respective institution’s CEO

For any enquiries on the implementation of the industry commitment, please email membership@aicb.org.my.