ISQ-Rules-2007

Rules
IBP Superior Qualification (ISQ)

The new year has emerged with new challenges and opportunities for the Institute of Bankers Pakistan. To face the challenges lying ahead, the IBP family sat together for a proactive assessment of the future trends and needs of the stakeholders. The IBP team entered into frank and forthright discussion with all the stakeholders including but not restricted to training institutes of the banks, Human Resource Departments, trainers, resource persons, coordinators, examinees and trainees. Thorough discussions were also held with the outside consultants to identify the needs and the gaps in our capacity building efforts. The Academic Board of IBP had several marathon sessions to examine the usefulness of the existing programs offered by IBP, the weaknesses, the gaps, the needs and expectations of the market and the perception about the future. This rigorous exercise culminated into developing IBP Annual Strategic Business Plan as also a Model of Superior Qualification in banking and financial services sector, thereby creating a route for continual professional development. The IBP Council and Academic Board had several meetings to thrash out the proposal and finally accorded approval. The key ingredients of the IBP Superior Qualification program are as under:

i	Junior Associateship of IBP The existing Banking Diploma (DAIBP) has been replaced with a high value qualification of Junior Associates of IBP (JAIBP) This infact is an effort to translate the stakeholders’ expectations into an effective, valuable and need focused professional qualification:

a	There is a building block approach in the JAIBP format. The new entrants would be allowed to enroll themselves in the Stage-I and gradually move upward to receive the coveted qualification and the title of JAIBP.
b	The nomenclature of some of the courses of old DAIBP has been changed so as to align them with the business dynamics and stakeholders expectations.
c	The curriculum and syllabus of the entire Banking Diploma Examination has been critically examined by a team of experts for the value addition and program enrichment. This has resulted in deletion, reduction and/or adjustments in some of the parts, sections or sub-sections of the previous curriculum.
d	Graduation (Equivalent to Second Class – 45%) in any discipline from a recognized University will be the basic academic qualification for entry into the program which will remain open to all those already working in the financial services sector as well as those who are aspiring to join them.
e	Those who have qualified under the existing format or are in the process of completing their DAIBP will not lose any credits. They will be treated at par with those in the new format. Hence the revised plan will not create any problem for the existing participants of the program.

NEW JAIBP FORMAT
Stage-I

1101	Business Communication for Financial Services
1102	Laws relating to Financial Services
1103	Accounting for Financial Services
1104	Macro Economics and Financial System of Pakistan

Stage-II

1201	Information Technology in Financial Services
1202	Lending Operations and Risk Management
1203	Human Resource Management – Basic Practices
1204	Marketing of Financial Services

Stage-III

1301	Monetary Economics
1302	International Trade & Forex Exchange Operations
1303	Management Accounting for Financial Services
Specialization Subjects (any one subject to be selected)
1351	Leasing and Micro Finance
1352	SMEs and Agricultural Finance
1353	Islamic Banking and Finance
1354	Retail and Consumer Banking Operations

     Associateship of IBP (AIBP)
     The Associateship of IBP (AIBP) will be awarded to those who:

a	Have completed the examination process and have qualified for DAIBP (Stage-I, II & III) or (DAIBP {Part-I & II} plus Special Certificate) or JAIBP.
b	Have acquired minimum 3 years' experience in the financial services sector after completing DAIBP/ JAIBP. Those who have cleared DAIBP on or before Summer 2004 are eligible for Summer 2007 examination.
c	Have a record of Continual Professional Development (CPD) during last 3 years through receiving or imparting training or other knowledge related activities. A minimum of 20 hours CPD per year is mandatory.
d	Have completed 5 additional courses as mentioned below:

Core Subjects

3101	Anti Money Laundering Measures and Business Ethics
3102	Corporate and Banking Law
3103	Advance Risk Management
3104	Financial Planning and Budgeting

Specialization subjects (any one subject to be selected)

3151	Financial Derivatives
3152	Project Financing
3153	Capital Markets
3154	Strategic Human Resource Management
3155	An Introduction to Insurance
Those who pass the five subjects and meet all the above mentioned requirements will be awarded Associateship by the Council of the Institute.

Fellowship of IBP (FIBP)

Prestigious Fellowship of the Institute of Bankers Pakistan (FIBP) will be awarded by the Council to those high class professionals who:
a	Have earned Associateship of IBP (AIBP) through IBP Superior Qualification (ISQ).
b	Possess minimum 5 years experience after completion of Associateship with year-to-year record of continual professional development through imparting or receiving training.
c	Passed the following two core subjects, submitted Dissertation on a topic to be approved by the IBP Academic Board and defend the dissertation in the viva voce:

Core Subjects

5101	Strategic Management in Financial Institutions
5102	Risk Management Systems and Operations
5151	Defend their Dissertation through presentation and Viva Voce.
5152	Have at least 2 articles published in the prestigious local or international journals.
The IBP will maintain a complete record of continual professional development for those who enter into the process, and authorize their participation in the Associateship and Fellowship levels. The aim is to develop this qualification in such a manner that this may attain highest acceptability within and outside the country.

1	Entry to Knowledge Process
	1.1	All ardent knowledge seekers whether working in a financial institution or not may enter in to this process. The entry qualification is graduation or equivalent from a recognized university with minimum second class (marks obtained 45%) or masters in any discipline. They should submit IBP Relationship Form duly completed along with attested copies of academic testimonies, computerized national identity card (CNIC). The Form should be accompanied by the prescribed relationship fee and commuted subscription. Life time Relationship subscription is Rs 5,000/-. The one time entry fee is Rs 500/- charged only in the case of new entrants. The IBP relationship process shall remain open throughout the year.
	1.2	The relationship forms are available from the office of the Institute at Karachi, its Local Centres and Coordinating Offices. Addresses of Local Centres and Coordinating Offices are in the knowledge plan as aslo on IBP wbesite (Directory - Domestice Network) its also downloadable from IBP website (www.ibp.org.pk).
	1.3	Access number shall be allocated by IBP on acceptance of the relationship form. The number is an identification, which must be quoted in all correspondence with the Institute. The reply to communication is likely to be delayed/omitted in case the Access number is not quoted.
	1.4	Professionals who had earlier paid lifetime subscription are required to obtain fresh Access number without payment of entry and lifetime subscription fee.
	1.5	The relationship is liable to cancellation if arrears of fee, charges, penalties, late fee or any other claims are not settled.
2	Examinations
	Examinations are conducted strictly in accordance with the prescribed rules contained in the Knowledge Plan, printed on question-cum answer book, admit card and other IBP communications. Prospective examinees are advised, in their own interest, to read the rules carefully. In case of non-compliance/non-observance of rules, their entries/results may be liable for cancellation.
3	Eligibility for Examination
	3.1	Knowledge seekers, who have obtained ISQ-Access number from IBP and have cleared all dues, are eligible to appear in the examination provided they have not been disallowed due to any other reason.
	3.2	Candidates who were debarred for a certain number of examinations on account of foul acts committed by them in the examinations are advised to send their examination forms only after the expiry of the period of debarment. In case they appear in the examination during period of debarment their entire result of that examination will be cancelled and they will be liable to further actions as per rules.
4	Exemptions
	4.1	As ISQ curriculum is unique, focused towards financial services sector and dedicated towards applied aspects of banking and finance, the IBP Council headed by Governor, State Bank of Pakistan has decided not to allow exemption in any subject of its ISQ Program on the basis of university degree or any other professional qualification.
	4.2	The candidates who were appearing in the Institute’s examination under DAIBP format will get exemptions on equivalency basis under the ISQ program provided their time limit as per examination rules has not expired.

Subject under Stage I, II, III	Equivalency with ISQ subject
Economics	Macro Economics & Financial System of Pakistan
Business Communication	Business Communication for Financial Services
Information Technology in Banks	Information Technology in Financial Services
Agricultural & Small Business Finance	SMEs and Agricultural Finance
Accounting	Accounting for Financial Services
Banking Law and Practice	Laws relating to Financial Services
Human Resource Management & Development	Human Resource Management – Basic Practices
Marketing of Financial Services	Marketing of Financial Services
Financial Management	Management Accounting for Financial Services
International Trade Finance & Foreign Exchange	International Trade Finance & Forex Operations
Credit Management	Lending Operations and Risk Management
Monetary Economics	Monetary Economics

5	DAIBP under old format of Part I – II
	All Diploma holders under old format of Part-I & II are eligible to join in the ISQ process leading to Associateship (AIBP) and Fellowship of IBP (FIBP). However as a first step and in line with the existing IBP rules, they will be required to pass the following five subjects and acquire Special Certificate. This will equate them with the JAIBPs under Stage I, II and III format. They will then be able to prepare for Associateship examination. These five subjects are:
	i	Information Technology in Financial Services
	ii	Lending Operations and Risk Management
	iii	Human Resource Management – Basic Practices
	iv	Marketing of Financial Services
	v	Management Accounting for Financial Services

Subjects of Examination

The examination for Junior Associateship of the Institute of Bankers Pakistan (JAIBP) is divided into three stages with four papers in each stage. On successful completion of Stage-I and II, the successful candidates will get memoranda. Memoranda will, however not be issued on passing Stage-III. Instead, they will get then credentials on completion of all the three stages. The new syllabus is effective from Summer, 2006 examination.

In a dynamic scenario the revision and updation of syllabus should be an ongoing exercise and hence the Institute reserves the right to revise the syllabus from time to time.

Each paper in ISQ format carries 100 marks and is of 3 hours duration. Examination paper (question-cum answer book) will be a blend of objective and subjective questions. Candidates are advised to study the latest editions of prescribed books, literature, State Bank of Pakistan Reports, Circulars, Economic and Business pages of news papers and IBP economical letters.

7	The Building Block Approach
	7.1	Fresh Entrants Those who appear in the ISQ Examination for the first time should start their knowledge journey through Stage-I. They will be allowed to appear in the Stage-II examination only after passing at least two papers of Stage-I. They should appear for examinations for the remaining subjects of Stage-I alongwith subjects in Stage-II. They will not be allowed to appear in the examination of Stage-III unless they have passed all the subjects of Stage-I and at least two subjects of Stage-II.
	7.2	Mid-Stream Examinee Those who have been appearing in Stage-I, II or III and could not complete the same are required to appear under new syllabus for the remaining subject(s). However, their previously passed papers are exempted on equivalency basis subject to their remaining chances/time limit.

8	Examination Entries
	8.1	Entries must be made on the prescribed form, which may be obtained from the Institute, its local centres, coordinating offices and website. Examination entry forms must be deposited alongwith appropriate examination fee at designated branches of MCB Bank Limited or Allied Bank Limited. The candidates if they so desire, may also send their form completed alongwith requisite documents and Pay Order/Demand Draft for prescribed fee, directly to IBP office at M.T. Khan Road, Karachi, Pakistan.
	8.2	Where a candidate is entering the examination for the first time and is not enrolled with the Institute, his examination entry form must be accompanied with Relationship Form of the Institute. Old examinees must also fill Relationship Form and obtain new ISQ-Access Number. They have to mention their old enrolment number in the Relationship Form to claim the credit of passed subjects (if valid) as also to avail the exemption of relationship fee. Examination entry forms of old examinees without enrolment/accession number are liable to be rejected outrightly.
	8.3	A copy each of the recent passport size photograph of the candidate should be pasted on the examination form, admit card and identification slip duly attested by the authorized officer of his/her bank/financial institution. In case of candidates of non-financial institutions a gazetted officer/principal or head of the institution should attest the same. Clear rubber stamp of the officer attesting the photographs showing his official designation and full address should be affixed. The candidates whose identity is found doubtful by the IBP supervisory staff due to old photographs will be disallowed to take the examination. Photocopies of photographs are not acceptable.
	8.4	Candidates should fill their complete office address with the name of the branches and departments to ensure safe delivery of admit cards, result slips, publications or any other correspondence. Any change in address should be notified to the Institute immediately. Admit Cards of participants not working in financial sector or elsewhere will be sent at their mailing / residential address.
	8.5	Name and signature of the candidates on the entry form should agree with the name and signature given on the original Relationship Form.
	8.6	Candidates should submit their examination entry forms at the earliest possible date and should not wait till the closing date of February 28th for the summer examination and August 31st for the winter examination.
	8.7	Examination form should be complete in all respect and must bear correct information. Incomplete forms or forms giving incorrect information are liable to be rejected out-rightly. If, after the examination, it is found that their relationship or examination form is not in order, their paper(s) may be cancelled.
	8.8	Last dates for filing the examination forms for the Summer Examination is February 28, and for winter examination it is August 31, every year.
	8.9	The summer and winter examinations would commence on the second Mondays of May and November, respectively.

9	Fee Structure
	9.1	Accession and Examination Fee structure is given as under : For Local Examinees: • Commuted Life Time Relationship Fee Rs 5,000/- • Processing Fee (one time) Rs 500/- • Examination Fee per subject Rs 500/- For Overseas Examinees: • Commuted Life Time Relationship Fee US$ 150/- • Processing Fee (one time) US$ 40/- • Examination Fee per subject US$ 20/-
	9.2	Late Fee: 50% of the examination fee up to mid of March/September respectively for summer and winter examination respectively. 100% of the examination fee up to end of March/September respectively for summer and winter examination.
	9.3	Relationship and Examination Forms are accepted in the designated branches of MCB Bank Limited or Allied Bank Limited alongwith the fee through payment vouchers.
	9.4	Fee once paid is neither refundable nor can it be carried over to the next examination under any circumstances.
	9.5	Candidates should make enquires if their remittance is not acknowledged within a reasonable time.

10	Examination Centres
	10.1	Centres of examination are not finalized until after the receipt of entries. However examinations are normally arranged at places where State Bank of Pakistan or Pakistani Commercial Banks have their offices.
	10.2	Name of the town where the candidate is posted should invariable be placed first in the space provided in the examination entry form.
	10.3	In the event of there being no centre at his place of posting, the candidate may opt to appear from the centre at the nearest. i) Districts headquarter (provided there is no examination centre at the place of posting). ii) Divisional headquarter (if there is no centre at district headquarters).
	10.4	The Institute makes all possible efforts to arrange the examination at the candidates’ place of posting. In the event of the Institute’s inability to do so for any reason no liability will be accepted by the Institute for any expenses and / or losses incurred by the candidates in this regard. Centres to non-finance examinees are generally assigned at their place of residence or employment.

11	Change of Examination Centre
	11.1	Change of centre shall not be permitted except in case of transfer or deputation on official duties and application for that purpose duly certified by the employer must be received by the Institute at least 21 days prior to the commencement of the examination. Change of centre will confirm by the institute after payment of Rs. 500/-.
	11.2	Candidates obliged to go, at short notice, on official duties to centres other than their place of posting, will be allowed to appear in the examination from those centres provided the letter for change of centre is received duly signed by a senior executive or official.
	11.3	Candidates working abroad will be allowed to take their examination in Pakistan while on leave, provided the Institute receives their applications duly forwarded by their banks at least 21 days prior to the commencement of examination.
	11.4	Candidates shall not be allowed to change examination centres without prior approval of the Institute. Examination taken at centres other than those assigned to the candidates shall be treated as irregular & cancelled and candidates will be debarred from appearing in the subsequent examination.
	11.5	Change of centres is allowed to the candidates not working in the financial institutions in case of their change of residence and / or employment provided their applications duly recommended by the employers and / or gazetted officers are received in the Institute’s office at least 21 days prior to the commencement of the examination.

12	Admit Cards
	12.1	Admit cards are generally dispatched a 10days before the commencement of examination. In case of non-receipt of admit cards, candidates are advised to contact the Institute’s head office immediately. Request for issue of duplicate admit cards may be considered on receipt of candidate’s application alongwith two recent attested photographs and attested CNIC / Photo identity.
	12.2	All candidates should also produce on demand their admit cards, computerized national identity card or photograph identity documents. Candidates without Admit Cards will not be allowed to appear in the examination.

13	Use of Calculators
	Candidates are not permitted to use mathematical tables, slide rules and mathematical calculator etc. during the examination. The use of simple, silent and battery powered calculator is allowed.

14	Commission of Foul Acts in the Examination
	The superintendent shall have power to discontinue the examination for the day or for the entire period of examination of those candidates found using unfair means or misbehaving with the invigilating staff or creating disturbance in the examination premises. All cases of foul acts will be dealt with according to prescribed rules given in the Knowledge Plan.

15	Entry into Examination Hall
	15.1	No candidate shall be permitted to enter in the examination hall after the lapse of half an hour from the time fixed for the commencement of the examination.
	15.2	No candidate shall bring charts, tables, books, papers or any other material of similar nature. Any book or paper brought by the candidates should be handed over to the invigilator/examination superintendent before the commencement of the examination.
	15.3	Use of Mobile phone, computer or any other gadget inside the examination centre is strictly prohibited.
	15.4	Candidates must ensure that the examination superintendent or invigilators signs question-cum answer books as otherwise it may lead to complication for the candidates.
	15.5	Adhesive seals for question-cum answer books available with the invigilating staff should be affixed at the proper place on answer-cum answer book by the candidates.
	15.6	Candidates shall use blue or black ink for writing their answers. Use of any other ink or marker or pencil for writing answers is not allowed. Non-compliance of this instruction will mean cancellation of the paper.
	15.7	Candidates’ rough work or mathematical calculations not intended for the examiners should be neatly ruled through.
	15.8	Candidates are advised in their own interest that answers should be concise, written in good, neat handwriting and in the pace provided in question cum answer book.
	15.9	All answers shall be written in English language only. Answers written in any language other than English will mean cancellation of the paper.
	15.10	The question-cum answer books collected from the candidates shall be counted, arranged according to roll numbers and packed either in envelopes with cloth lining or in the cloth stitched parcels and sealed in the examination hall for dispatch to the Institute in the presence of all the invigilators and any candidate who may choose to remain in the hall.

16	Writing of Names, Roll Numbers, Appeals, etc.
	16.1	Candidates are forbidden to write their names, roll numbers or other particulars in any part of their question-cum answer book except on the slip provided. Disclosure of identity in any manner is not allowed and is liable to penalties.
	16.2	Candidates should write fictitious names when asked to write a letter or report in any paper.
	16.3	Candidates are forbidden to write appeals in any part of their answer-cum answer book.

17	Substitute Writer
	No candidate will be allowed the facility of substitute writer in the examination under any circumstances.

18	Secrecy Arrangements
	18.1	Question-cum answer books are forwarded to examination superintendents in sealed envelopes to be opened in the presence of invigilators and candidates at the time of start of examination. Two candidates picked up by the superintendent randomly, should verify by signing the envelop that the seal was intact. Invigilator will countersign the envelope before unsealing it.
	18.2	The question-cum answer book does not bear the name of the Institute, subject and date of examination. The examination superintendent will announce the names of the subjects and code numbers of each paper immediately after the distribution of question-cum answer books to the candidates. Candidates must ensure that the paper delivered to them is the same in which they intend to appear. Late comers must enquire from the examination superintendent the name of the subject and code number.
	18.3	Instructions printed on the question-cum answer book should be strictly followed.

Examinee’s Attendance

After half an hour from the commencement of examination, the invigilators will take signature of the candidates on the invigilation charts provided for the purpose. The candidates should produce their admit cards so that their particulars are verified and their answer books are signed by the invigilators concerned. The invigilator will sign on the top of the slip attached with the question-cum answer book.

20	Smoking
	Smoking and any other edible in the examination hall is not permitted.

Closing Time

A bell will be rung ten minutes before the close of the examination when candidates are expected to revise their work and get the question-cum answer book ready for delivery. At the second bell the question-cum answer book should be handed over to the invigilators. Ten minutes before the close of examination, the door of the examination hall shall be closed and no candidate shall be allowed to leave the seat till the close of the examination. Candidates shall not leave the examination hall without handing over their question-cum answer books to the examination superintendent or invigilator.

22	Pass Marks and Grades
	22.1	Passing criteria in each subject is 50% out of 100 marks.
	22.2	Candidates securing 80% marks or more in any of the subject will be treated to have passed the subject with distinction.
	22.3	Candidates failing in any subject will find on the result slip a symbol indicating the margin by which they failed to reach the pass standard. The explanation of the symbols is as follows.

Failed (A)	(49 – 45)	Within 10% of the pass standard
Failed (B)	(44 – 38)	Between 11% and 25% below pass standard
Failed (C)	(37 – 30)	Between 26% and 40% below pass standard
Failed (D)	(29 – 0)	More than 40% below pass standard
No further indication of the standard attained will be given.

23	Time Limit
	23.1	Fresh Entrants The new entrants of JAIBP have to pass all twelve subjects in five years. This time limit will be counted from the first appearance in any paper by marking attendance on the attendance sheet/invigilator chart. Incase they do not complete JAIBP in the prescribed time limit of five years, the papers passed if any, will stand cancelled and they will be required to appear afresh.
	23.2	Mid Stream Examinees The candidates who were appearing in the DAIBP Examination and have passed one or more subjects have to pass all the remaining subjects of JAIBP latest by Winter, 2010. Incase they do not complete JAIBP by Winter, 2010 the papers passed if any, will stand cancelled and they will be required to appear afresh.

24	Communication of Results
	24.1	Results of the examination will be communicated to the candidates by post on their addresses as given in the entry forms unless a change of address is previously notified. A list of successful candidates will also be sent to the banks/financial institutions. In case of non-finance participants result slips will be sent at their mailing/home addresses. Provisional Certificates will be issued to the successful candidates with date of commencement of examination and number of attempts. The detailed result of successful candidates is also displayed at IBP’s website on announcement of result.
	24.2	Result slips will only show pass or fail in each subject.
	24.3	The Institute reserves the right to correct, modify alter or change the results in any manner if they are found to be wrongly tabulated or compiled.
	24.4	Typographical or computer input error, if any, will not entitle the examinee to interpret the result in his/her favour and to claim any benefit therefor. The Institute reserves the right to correct such mistakes as and when they come to notice and no action shall lie against the Institute.
	24.5	The Institute reserves the right to cancel the result of candidates who are found guilty of using unfair means in the examination detected subsequent to the announcement of their results.

25	Re-totalling of Marks
	25.1	Request for re-assessment of the answer shall not be entertained.
	25.2	Examinees are allowed to have their marks re-totalled on payment of Pak Rs 500/- or US$ 20/- per subject. The requests shall be made in the candidates’ own handwriting within 45 days of the date of declaration of result.
	25.3	No information whatsoever shall be furnished to the candidates in respect of marks actually obtained.

26	Punishment for Foul Acts
	The Council of the Institute shall have the right to disqualify any candidate who, they have reason to believe, has received or given unfair assistance at the examination. The Council may
	a	Cancel the result of such candidates in any or in all the subjects of the examination at which he may have appeared, and also
	b	Debar him/her from appearing in future examinations for a specified period. The decision of the Council shall be final.

27	Issue of Certificates, Memorandum and Junior Associateship Credential
	27.1	On successful completion of examination of all the subjects of Stage-I or Stage-II, Memorandum signed by the Chairman of the Academic Board and the Chief Executive of the Institute of Bankers Pakistan will be issued.
	27.2	On passing all the subjects, prescribed under old and new syllabus, credentials signed by the President and the Chief Executive of the Institute of Bankers Pakistan are issued to successful candidates.
	27.3	Candidates securing 80% marks or more in any subject will have their Memoranda / Credentials marked with distinction against such subject or subjects.
	27.4	Fee for the issue of duplicate / amended certificate / memorandum / credential is Rs 1,000/- each.