China banks on Scottish expertise
New qualification is based on Scottish banking standards
One of China's most prestigious financial institutes has today endorsed Scotland's reputation as a leader in financial services and education.
Following a partnership agreement between the Chartered Institute of Bankers in Scotland (CIOBS); the Wealth Management Institute of Lujiazui (WMI China) and BPP Professional Education, China's first Chartered Corporate Banker Qualification has opened for registrations.
Based on standards set in Scotland, the qualification is expected to attract around 10,000 students in its first year, rising to about 50,000 a year within three years of launch. The first cohort is expected to enrol in September.
Anne MacColl, chief executive of Scottish Development International, said: “Today’s announcement will position Scotland as an influential knowledge partner offering world-class education, training and professional expertise to a growing banking sector in China.
“For CIOBS, this is an important step in the organisation’s plans for international expansion. It has identified and successfully capitalised on a key market opportunity in China by partnering with a prestigious in-market institution.
“The organisation now joins the growing list of Scottish financial services companies operating in China, which include RBS, Standard Life, Aberdeen Asset Management and Martin Currie.
“The Chinese market continues to offer vast potential for Scottish financial services firms in fields such as banking, fund management, PE/VC, insurance, pensions, securities, consultancy, training, education and legal & professional services. We will continue to work with ambitious companies in this sector to support their international expansion plans.”