The International Finance Corporation has supported the launch of an innovative elearning program in Finance of International Trade for Selected Emerging Market Issuing banks in Pakistan and Bangladesh. This program, developed by eBSI Export Academy and accredited by the Institute of Export UK also incorporates ICC UCP 600 certificate module delivered by Coastline Solutions.
The key benefits of the FIT initiative can be outlined as follows:
Builds capacity in technical international trade and finance skills.
Learning can be accessed regardless of geographic location of learner and at a pace and time suitable to learner.
Provides international certification by the Institute of Export United Kingdom (IOE) which has a long track record in trade certification.
Provides international certification by way of certificate issued by the International Chamber of Commerce in Paris (ICC).
Brings additional benefits to trade finance supports provided by the risk coverage of the IFC GTFP.
Provides an operational day-to-day support tool for trade finance professionals with responses to technical queries and issues.
Reduces operational risk for banks in emerging markets as trained and certified staff are unlikely to make operational errors leading to operational losses. Operational risk and its potential to cause financial loss is a component for risk determination under Basel II.
Increases the penetration of the use of traditional trade finance instruments into the corporate market as such trade instruments have been acknowledge as involving less risk than conventional lending or general banking facilities.
Skilled trade finance professionals have capacity to support their emerging exporters and importers in engaging in cross border international trade which in turn promotes economic activity, development and reduction in poverty.
Provides access to learners in emerging markets to skills, knowledge and international qualifications which otherwise would be impossible or extremely expensive to achieve by standard learning methods.
With the increasing level of travel and visa restrictions this program provides otherwise unavailable access to learning to participants in emerging and developing markets.
The highly visual and interactive learning system provides learners with an enjoyable learning experience and increases their retention capability and in turns empowers participants in the workplace.