Founder member of FECMA

Advancing the credit profession

BFS-TI Accredited by Institute of Credit Management

19 August 2010

Leading institutes team up to offer specialist credit courses to clients

Manama, Bahrain 08 August, 2010:  The BFX Training Institute (BFX-TI), an internationally accredited training institute providing world class conventional and Islamic financial training and education courses, today announced that it has achieved accreditation as an official provider of tuition for the Institute of Credit Management (ICM) qualifications. The BFX-TI is the first and only organization in Bahrain to receive this prestigious endorsement.

Commenting on the announcement, Arshad Khan, Managing Director and CEO of the BFX and BCDC, hailed the partnership as yet another significant milestone for the BFX-TI in its mission to provide outstanding training services to the financial and non financial sector in Bahrain. “We are firmly committed to empowering our clients by providing the highest level of quality training and qualifications at the BFX-TI,” he noted, “and the Institute of Credit Management is an ideal partner to further strengthen the BFX’s position in Bahrain and the region as a whole.”

The ICM boasts 70 years experience in the field of credit management and is Europe’s largest organisation of its kind, focusing on trade, consumer, export credit and all credit-related services. Its course offerings will further augment the BFX-TI’s comprehensive choices of specialized curricula. The ICM’s list of courses include credit application processing, credit risk assessment, credit management, cash collections, debt recovery, negotiation and influencing, customer relations, amongst others.

Philip King, CEO of ICM, also welcomed the affiliation with the BFX-TI, saying, “The BFX-TI shares our belief that sound credit management policies are vital to business survival and growth. Organisations with well-trained credit professionals not only enjoy shorter working capital cycles, reduced risks of bad debts, and timely collection of receivables, but also benefit from enhanced relations with their customers.”

According to Mr. King, businesses are constantly faced with decisions on how much credit to extend to clients. This requires a systematic and all-inclusive approach that covers everything from vetting new customer applications to collecting outstanding receivables from existing clients.

In recent months, the BFX-TI, which is owned and operated by the Bahrain Financial Exchange (BFX), the MENA region’s first multi-class exchange, secured a number of similar partnerships with other high-calibre international leading educational and accreditation bodies such as Financial Technologies Knowledge Company (FTKMC), Institute of Leadership & Management (ILM), and the Chartered Institute for Securities & Investment (CISI).

The BFX-TI’s wide range of courses include leadership, management, sales, financial markets, banking and treasury Instruments, global securities operations, securities and investment, wealth management, Islamic finance, exchange-traded derivatives, operational risk, corporate governance and principles of financial regulation, all of which are taught by a select group of leading industry professionals and practitioners.