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Standard Chartered has become the first bank to receive accreditation from the London Institute of Banking and Finance (LIBF) for its external trade and transaction banking training programme.
The bank’s Trade Institute, launched earlier this year, secured the accreditation following what LIBF described as a “rigorous assessment” of its curriculum. The programme has already trained more than 1,000 clients through virtual and face-to-face sessions. It focuses on trade industry guidelines and banking solutions.
Angel Cheung, Standard Chartered’s global head of trade client service, said the accreditation contributed to “raising industry standards” amid a global trade environment which is increasingly hard to navigate.
This marks LIBF’s first-ever accreditation of a bank’s external trade training programme. Alex Gray, LIBF’s director of trade and transaction banking, noted the partnership’s historical significance, especially as “both institutions have a shared history dating back to the 19th century.”
The curriculum covers various aspects of trade finance and aims to enhance clients’ understanding of industry practices whilst familiarising them with Standard Chartered’s trade solutions. Topics include letters of credit (both import and export), guarantees, standby LCs, and fundamental trade finance concepts with Incoterms coverage.
The curriculum combines in-person and online learning sessions, featuring practical applications on how to handle documentary credits and managing international trade risks.
The accreditation comes as banks face increasing pressure to provide more sophisticated support in terms of client-focused financial education.
