DFIM Circular No. 01: Regarding Banking Professional Exam

Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh. Ref No.: DFIM Circular No. 01 Managing Directors / Chief Executive Officers All Finance Companies operating in Bangladesh.

Dear Sir, Re: Regarding Banking Professional Exam.

1. It is acknowledged that it is necessary for the employees of finance companies to enhance their professional excellence and acquire intermediate and advanced knowledge related to economics and banking. The Banking Professional Exam conducted by the Institute of Bankers, Bangladesh (IBB) has two levels: Level 1 (Intermediate Banking Knowledge) which tests primary and intermediate banking knowledge, and Level 2 (Advanced Banking Knowledge) which tests advanced banking knowledge and skills.

2. Recently, the curriculum of the Banking Professional Exam has been modernized and made contemporary. In this context, the following instructions regarding the Banking Professional Exam for employees of finance companies shall be followed:

(a) For the promotion of employees currently holding the position of Senior Officer or equivalent to a higher position, finance companies must allocate 10% of the total marks assigned by the finance company for passing the Banking Professional Exam (5% for passing Level 1 and 5% for passing Level 2);

(b) Employees of finance companies who were recruited or promoted immediately prior to the issuance of DFIM Circular No. 01 dated February 22, 2023, will automatically receive the previously allocated full marks for the said examinations even if they have not passed the Banking Professional Exam, when promoted one step higher from the position they held;

(c) From January 1, 2026, any employee moving from a bank or finance company to another finance company for appointment to a relatively higher position must pass the Banking Professional Exam;

(d) Employees who have completed 15 years of service since joining or being promoted to the position of Senior Officer or equivalent will automatically receive the previously allocated full marks for the said examinations even if they have not passed the Banking Professional Exam, when considered for eligibility for promotion to a higher position, taking experience into account;

(e) From February 1, 2025, it will be mandatory for employees joining or being promoted to the position of Senior Officer or equivalent in finance companies to pass the Level 1 examination for their first subsequent promotion and the Level 2 examination for their second subsequent promotion. The date of recruitment or promotion of employees must be mentioned accordingly from this date. The instruction under paragraph 2(d) of this circular will not apply to employees appointed or promoted to the specified positions from February 1, 2025; and

(f) This policy will not apply to employees appointed in positions not directly involved in the core business of finance companies, such as Doctors, Legal Officers, Engineers (Civil, Mechanical, Electrical, and IT Professionals), and Marketing and Publication posts.

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3. To ensure passing the Banking Professional Exam, finance companies must mandatorily provide official incentives of at least BDT 35,000/- (Thirty-Five Thousand Taka) for passing Level 1 and at least BDT 50,000/- (Fifty Thousand Taka) for passing Level 2, which will be effective from the 99th Banking Professional Exam.

4. All previous instructions issued by this Head Office regarding this matter, including DFIM Circular No. 01 dated February 22, 2023, and DFIM Circular Letter No. 16 dated July 26, 2023, are hereby repealed. However, all actions taken and measures adopted by finance companies based on the aforementioned instructions shall be deemed valid.

5. These instructions are issued under the authority granted by Section 41(2)(d) of the Finance Company Act, 2023, and shall come into force immediately.

Yours faithfully,

(Gautam Kumar Ghosh) Director (DFIM) Phone: 9530178.