I WOULD LIKE TO
Version | 8 |
Approval |
201st Council on 13 July 2020 |
Date | 13 July 2020 |
2. STF Credit Allocation
2.1 A portion of the penalty contribution paid by the recruiting bank will be allocated to the releasing bank in the form of Credits at nominal value as per Table 1 below.
Allocation | Effective Date |
25% |
20/10/2011 |
10% |
01/01/2018 |
25% |
01/01/2020 |
2.2 Effective from 1 January 2020, 10% of the current year’s Credit allocation to the releasing bank will be earmarked for ABS Executive Education programmes.
3. Validity Period
3.1 Credits earned and earmarked in one calendar year must be utilized within the following 2 calendar years. Unutilized Credits will be forfeited upon expiration.
3.2 There is no legal obligation by STF to pay the banks the remaining Credits in cash equivalent upon the termination of the scheme.
4. STF Credit Utilization
4.1 The eligibility and restriction for utilization of Credits are set out in Table 2 below:
Table 2: STF Credit Entitlement
Entity | Eligible | Effective Date |
AICB | All qualifications awarded by AICB or jointly awarded with another professional body. Claimable fees include exam sitting, online resources, study text and all other charges directly attributable to the qualifications. Exam fees include first and subsequent sittings subject to the respective qualifications’ limitation. Conferences organized by AICB or in collaboration with other strategic partners. Claimable expenses include trainers’ fee, food and beverages, and venue costs directly attributable to the program. Participant’s airfare, ground transport & accommodation are not claimable except with the approval of AICB Council. Membership fee for individual members and corporate members. |
7/9/2016 1/1/2020 |
ABS | All programs offered by ABS or in collaboration with other strategic partners. Claimable expenses include trainers’ fee, food and beverages, and venue costs directly attributable to the program. Participant’s airfare, ground transport & accommodation are not claimable except for Executive Education programmes. |
7/9/2016 |
FSTEP | 3-month STF fully sponsored program conducted by ABS. Salary or allowance paid to FSTEP students are not claimable. |
1/1/2017 |
ICLIF | All programmes under the collaboration agreement dated 16 July 2019 (Collaborative Programmes), subject to AICB’s approval and must be marketed as jointly organized by AICB and ICLIF. Claimable expenses include trainers’ fee, food and beverages, and venue costs directly attributable to the program. Participant’s airfare, ground transport & accommodation are not claimable unless it is an integral part of the collaborative program fee as agreed by AICB and ICLIF. Utilization of STF Credit for Collaborative Programmes is subject to a cap of RM200,000 per bank per year. |
16/7/2019 |
ASB | Master of Business Administration for Working Professionals (MBA-WP) with a concentration in Finance and Analytics offered by ASB. Conditions: · Capped at one candidate per bank per annum; and · The candidate must be an Associate member of AICB. |
13/7/2020 |
Abbreviations:
AICB – Asian Institute of Chartered Bankers
ABS – Asian Banking School
FSTEP – Financial Sector Talent Enrichment Programme
ICLIF – The Iclif Leadership and Governance Centre
ASB – Asia School of Business
4.2 Exemptions to the guidelines and special requests are subject to AICB Council’s approval.
5. Process
5.1 STF Resources Sdn Bhd will notify financial institutions (FIs) of their Credit balances on a monthly basis. As the information include staff salary, the statement will be released to the CEO, Head of Human Resource and any other recipients designated by the Head of Human Resource only.
5.2 In order to utilize the Credits to purchase a program, FIs are required to submit the STF Credit Utilization Form upon registration or signing of the proposal for the program.
5.3 Credits will be deducted immediately upon receipt of the STF Credit utilization form duly authorized by the Head of Learning and Development.
5.4 For effective management of the Credits, no reversal will be entertained for undelivered programs.
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