The Institute of Bankers in Malawi (IOBM) was established in 2002 after The Bankers Association of Malawi had been receiving numerous enquiries about setting up of the Institute of Bankers with the aim of enhancing the level of professional competence and skills relevant within the banking industry in Malawi.
The IOBM is an independent professional body whose mission is to promote standard of professional competency and level of skills in banking and the financial services sector in the country. The Institute is a member of Alliance of African Institute of Bankers which consist of 12 Institutes in Africa. The Institutes include;
- Institute of Bankers in Malawi
- Tanzania Institute of bankers
- Institute of Bankers in South Africa
- Chartered Institute of Bankers Nigeria
- Zambia Institute of Banking and Financial services
- Uganda Institute of Banking and Financial services
- Chartered Institute of Bankers Ghana
- Botswana Institute of Bankers
- Rwanda Institute of Bankers
- Egyptian banking Institute
- Kenya Institute of Bankers
- Institute of Bankers Sierra Leone
So far, the institute has forged strong links with other similar institutions within the SADC region and in Europe such as the Chartered Institute of Bankers in the United Kingdom.
The Institute of Bankers in Malawi strives to continuously attest quality examinations through rigorous process that starts from identification of examiners, the formulation of examinations, moderation of examinations, scrutiny of results and approvals by the University of Malawi (UNIMA) - The Polytechnic, Faculty of commerce. During its 15 years of service, IOB has emerged as a leading Institute in Banking and Finance education for those employed as well as seeking employment in the banking Industry, aiming for professional excellence. The Institute has awarded qualifications to student members and these include Certificate in banking, Diploma in banking and Advanced Diploma in Banking in specialized areas such as Credit Management, Treasury and International Banking, Estates and Trusts Management, Financial Planning and Marketing. The Institute plans to help graduates to sustain their professionalism through Continuing Professional Development programs.
IOBM also provides short term professional training courses to the Banks and Financial Institutions. It awards Certificates of attendance/completion to candidates who successfully complete short courses. The Institute currently enjoys popular support from the entire Banking industry in Malawi including the Reserve Bank of Malawi.