Monrovia – The Banking Institute of Liberia has graduated 114 individuals from several banking institutions to deliver effective and efficient service delivery in the banking and financial sector of the Liberian economy.
The Banking Institution of Liberia established in March 2014 is a corporate training institute specializing in banking financial management and non-financial related disciplines in Liberia.
By: J.H. Webster Clayeh
The institution is supported by the Central Bank of Liberia and the Banking Association of Liberia. It aims to provide capacity-building and cutting-edge training support to stakeholders in the banking and other corporate and financial sectors.
The institution became formally operational following the appointment of its first Director-General, Assistant Professor Richard S. Panton in 2018.
Giving the keynote address at the program marking the formal joint closing exercises of the 2021 Level 2 Cycle and 2022 Level 1 Cycle at the auditorium of the University of Liberia main campus, the Managing Director of Ecobank Liberia George Mensah-Asante said after a long period of sustainable peace, the financial sector in Liberia is moving steadily thereby making banking and the financial sector more effective to drive Liberia’s economy.
With the enormous progress, the Ecobank Liberia boss decries that the banking and financial sector faces the challenges of the scarcity of the right types of skills and professional training.
This challenge, he says, is even more based on the expansion of the operation of the banking and financial sector in Liberia.
Mr. Asante urged participants to use the training they have gotten from the Banking Institute of Liberia to be effective in their various financial institutions’ internal and extender operations.
“The global banking industry is an evolving one with a great opportunity for personal and professional growth. We indeed, therefore, have a pool of professionals to promote a saving and investment culture,” he said.
According to the president of the Liberia Bankers Association, the role of graduates is key to providing resources and enforcing financial advice in the country.
“Keep learning new skills in the wake of more technology-implied financial services,” Mr. Asante said.
Also speaking, the Director General of the institution Asst. Prof. Richard A. Panton said Level two participants covered the period from February 15 to April 30, 2021.
He added that graduation for 33 participants who fall in this category was put on hold due to the COVID-19 restrictions.
Also, 81 candidates completed 12 level-one short-term bank-related courses covering the period from August 1 to October 28, 2022.
Mr. Panton added: “The candidates bring to a total of 114 participants nominated from the CBL and LBA members’ institutions.”
According to him, human capital development is essential for national growth and development in society. He added that when there is highly skilled and trained manpower, the challenges facing society can easily be overcome.
“Trained and skilled staff can unravel complex problems in the environment,” he said.
Mr. Panton also called on the CBL and heads of commercial banks to make training at the Banking Institute a compulsory requirement for employment and upward mobility in the sector.
He added: “This will elevate the institute well as increase its visibility in the industry. This best practice is imminent and carried out on the African continent.”