Regulatory Alerts2023-07-26
Added
DFIM Circular Letter No. 16: Inclusion of Passing Banking Professional Exam (Former Banking Diploma Examination) in the Promotion Policy of Officers as Mandatory Requirement.
The Department of Financial Institutions and Markets clarifies exemptions from the mandatory Banking Professional Exam requirement for officer promotions under DFIM Circular No. 01/2023. Officers appointed or promoted immediately prior to that circular are exempt from the exam for their next single step promotion, though they must pass it for subsequent steps or if joining another institution at a higher rank. Additionally, officers previously exempted must pass the exam if posted to departments related to authorized banking business core services.
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