BY PROVIDENCE OBUH

Lafferty Group and FlTC, the management development institution for financial services in Nigeria, has entered into a strategic partnership aimed at improving the fortune of retail banking in Nigeria, with the launch of the International Academy of Retail Banking (IARB) in the country.

Speaking at the launch of the academy in Lagos, General Manager/Head of Councils, Mrs Evelyn Hunter-Jordan said the academy is unique in being an international organisation providing an education programme with in-depth focus on retail banking as a profession.

According to Jordan, IARB offers programme and certifications for high achievers in retail banking at three levels — foundation, intermediate and expert.”

She explained that retail bankers who have completed their studies successfully and passed the experts examination of the academy will become members of the IARB and become entitled to use the designation CIRB (Certified International Bankers).

“Prior to setting up IARB, Lafferty Group engaged with a number of central banks and has now recruited a core faculty of more than fifty senior retail bankers from around the world,” she said.

Speaking on the reason behind the establishment of and timing of IARB, Chairman Lafferty Group, Mr. Michael Laferty said it is now generally agreed that retail banking should be regarded as a profession. He noted that a key focus of IARB will be to develop retail bankers who will rebuild customer trust and form profitable long-term relationships.

In the same vein the Managing Director, FITC, Mrs Lucy Newman said the company’s alliance with Lafferty Group for delivery of IARB is in line with its aspiration to become the preferred provider of training, consulting and research services to the financial sector in West Africa.

Newman added that it is also anticipated that professionalism in retail banking can have a positive impact on financial inclusion in Nigeria’s economy noting that the partnership will help banks fulfill their aims in the region .

“Retail banks have a very significant role to play in Nigeria’s growing economy” she said.

Garry Marsh, Head Retail Banking, Diamond Bank Plc who was among the seven bankers inducted as honorary members of IARB at Lafferty Group’s International Retail Banking Council in Rome last month said “It’s an exciting time to be involved in retail banking here and I’m sure IARB will find a motivated and enthusiastic audience in Nigeria.”

Marsh disclosed that the IARB is scheduled for introduction and roll out in Nigeria within the third quarter of 2011.