Banking lies at the heart of every economy. The importance of banking to the economy, society and individuals is clear to all. When banking is done well, it benefits us all, which is why customers, policy-makers, regulators, shareholders and bankers themselves want to see a re-invigorated banking industry built on solid foundations of customer and client-focused, ethical professionalism.

We all want to see banks and bankers successfully supporting customers and clients whilst lending responsibly, acting as trusted advisers to individuals and businesses, and playing a positive role facilitating sustainable economic growth.

To achieve this requires more than regulatory reform and re-building banks’ financial capital reserves. It also needs the banking industry in every country to base its human capital on solid foundations of customer and client-focused, ethical professionalism. To build a banking industry staffed by banking professionals with high levels of technical competence and the appropriate values, attitudes and behaviour. This, however, begs two questions:

‘What knowledge and skills are required by professional bankers?’

‘What are appropriate standards of behaviour for bankers?’

At present, there are no definitive, internationally agreed answers to these key questions, and the many detailed questions that follow from these. Banking institutes and regulators in some countries are working to improve ethical and professional standards, but at present there is little international co-operation on these issues which underpin the successful operation of the global banking profession.

Recognising this deficiency, 25 national banking institutes agreed in 2017 to establish the Global Banking Education Standards Board (GBEStB) to develop and encourage the implementation of the world’s first international standards for the professional education and training of bankers.

Who Will Benefit From Global Banking Education Standards?

The primary beneficiaries of our initiative will be those banking institutes supporting this initiative, as they will:

Receive support in developing an ethical and professional culture in their national banking industry, sustained by internationally agreed standards:
Tap into the large pool of expertise and experience of their peers;
Enhance their standing by playing a role on the global stage and participating in standards development; and
Provide internationally recognised education programmes to individuals qualifying with them, facilitating the free movement of professional bankers across the globe.