IOE International Trade - Exporting Excellence through Education

IFC/FIT Initiative

The first group of students from Bangladesh to take part in the IFC ‘FIT Initiative' programme.

The Institute of Export today announced their participation in the successful launch of an Online Training and Certification Initiative for Trade Finance Professionals in Bangladesh which is being offered under the auspices of the International Finance Corporation; the private sector investment arm of the World Bank Group.

The IFC/'FIT'‘' Initiative is an e-learning certification programme for International Trade Finance personnel working either in banks or in International Trading Companies. The First country roll-out of this new Trade Finance Certification took place during a series of promotional workshops in Chittagong and Dhaka, Bangladesh in association local coordinating partner ICC Bangladesh and the developer of the core e-learning content for the certification, electronic Business School International.

The first two month course will commence on 24th March according to Mr. Ataur Rahman, secretary of ICC Bangladesh. "Given the current reliance by Bangladesh on Letters of Credit as a method of payment, the opportunity afforded by IFC, eBSI and The Institute of Export to broaden the skill base to allow other payment options and to develop a practical understanding of Trade Finance will clearly enhance export performance in an ever more adverse trading environment, according to Mr. Rahman.

The IFC ‘FIT Initiative' e-learning program has been designed with two main goals:

1. To train and certify international trade finance professionals in their core area of expertise and thus enhance their productivity in their day-to-day roles

2. To build an online global network of international trade and finance professionals who will share knowledge and experience on an online platform specifically developed for the program - a powerful tool in the resolution of common trade finance queries and issues.

Vincent O'Brien, First Director of eBSI said "The IFC 'FIT' Initiative' will provide advanced skills in the ‘Finance of International Trade' (FIT) to participants of the program." Successful participants will receive valuable certification in the Finance of International Trade from the Institute of Export in the United Kingdom as well as a certificate of achievement in Documentary Credits and UCP 600 from the International Chamber of Commerce in Paris

Further national rollouts are anticipated with a programme commencing in May 2008.

Douglas Fermie, Director of IoE: "The Institute of Export has always been eager to support emerging markets in the development of export capacity and we are delighted to extend our academic bona fides to this multinational effort."

Full details can be found at: www.ifcfitinitiative.net

Antonio Jesus Rodrigues Mato of, Dublin who was awarded
the ACIT from Thomas Smith,  Operations
Director of eBSI, at a ceremony on 20th November, 2008.

Two Graduates from Bangladesh being awarded the ACIT
by, Vincent O’Brien, First Director of eBSI on 3rd December,  2008