TFP and ICA offer unique training opportunity

New courses allow EBRD partner banks access to internationally recognised qualifications

The TFP is proud to launch two training courses offering internationally recognised qualifications in financial crime compliance. Up to 120 TFP partner banks will have the chance to train their staff to the standard of leading international banks. The training is jointly funded by the EBRD and International Compliance Association (ICA).

Why is this training being introduced?

A survey carried out by the Banking Commission of the International Chambers of Commerce in 2015 identified a number of difficulties posed by various legal and regulatory requirements. These multiplied both the cost and complexity of compliance and created barriers to trade finance.

For example, 70 per cent of the participating banks said that they had rejected trade finance transactions due to the regulations on know your customer (KYC) and trade-based money laundering, with 46 per cent of respondents experiencing termination of correspondent relationships due to related costs and complexities.

In addition, 91 per cent of respondents expected compliance requirements to increase over the next year. And 53 per cent considered the lack of compliance harmonisation between jurisdictions a great challenge to the trade finance industry.


To address these challenges, two institutions – the ICA and EBRD – are for the first time jointly funding scholarships for two training courses that will be offered to the EBRD’s partner banks: the ICA Certificate in Know Your Customer (KYC)/Customer Due Diligence (CDD) and the ICA Specialist Certificate in Trade Based Money Laundering (TBML).

The courses will also be offered to the central banks in selected economies where the EBRD invests.

This new collaboration between the two institutions has made it possible for EBRD partner banks to access the training undertaken by leaders in trade finance, minimise costs of compliance and, therefore, stimulate trade finance transactions in the EBRD’s regions.

“We are very excited to offer our partner banks this unique opportunity to train their trade finance staff in compliance to the standards of leading international banks,” explained Kamola Makhmudova, EBRD.

“These qualifications will be another step closer to removing trade barriers and facilitating trade between the countries where we operate, helping them establish correspondent connections with wider networks around the world.”

Echoing these comments, Bill Howarth, ICA President, said: “We are excited to be working with another like-minded entity that aligns with our vision for the professionalisation of compliance. Enhancing the knowledge and skills of regulatory and financial crime compliance professionals in developing economies is an ongoing priority for us. We look forward to working with the EBRD to empower these professionals to perform to the highest standards and to be able to fight financial crime more effectively.”

Find out more

For more information about the ICA go to:

Enhancing the knowledge and skills of regulatory and financial crime compliance professionals in developing economies is an ongoing priority for us.

Bill Howarth

ICA President

46% of respondents experience termination of correspondent relationships due to related cost.