History of EIFS
The EIFS started its activity in February 1966, when National
Bank of Ethiopia and the Commercial Bank of Ethiopia established
the Ethiopian Institute for Banking Studies (EIBS) to provide
trainings to the Ethiopian Banking sector.
With the nationalization of banks and insurance companies in
January 1975, the NBE was given the authority to direct,
coordinate and control the activities of the financial sector.
As a result, the Ethiopian Institute of Banking and Insurance (EIBI)
was re-structured by the National Bank of Ethiopia as a central
training institute for the employees of the financial sector
industry in 1976. During the next 31 years, the EIBI conducted
educational diploma programs in Banking and Insurance and
short-term training programs to the staff of the financial
industry.
The EIBI, again, was transformed into the Ethiopian Academy of
Financial Studies (EAFS) in 2007 to render short-term training
programs and thereon to resume the educational programs in the
areas of banking and finance, insurance and micro financing.
In 2009, the EIFS was renamed again and became the Ethiopian Institute of Financial Studies in order to better represent the scope of activities to be undertaken.
Ethiopian Institute of Financial
Studies (EIFS)
EIFS provides short term training courses grouped in four main
categories: Banking, Microfinance, Insurance and Management
Development. Theses courses are either provided in half day or
full day sessions with different duration. The Institute offers
a big variety of trainings; please see our current training
program for more information.
In total EIFS offers 48 different training courses on the above
mentioned categories. In the fiscal year 2009/10 they were
organizing 143 different training sessions including half day
and full day sessions.
The EIFS is based and mainly supported by the National Bank, but
it also is supported by the public financial institutions:
Commercial Bank of Ethiopia, Construction and Business Bank of
Ethiopia, Development Bank of Ethiopia and Ethiopian Insurance
Corporation. But the trainings of the Institute are open to
private banks, insurance companies, and microfinance
organizations as well.
EIFS is the first indigenous Ethiopian Training & Educational
Institute which has been trying to meet the training &
educational needs of the financial sector since its formation
about 33 years ago. Throughout 2010 the EIFS was accompanied by
international consultants from the German firm Frankfurt School
of Finance & Management who worked on the modernization and
professionalization of the Institute. Their work was part of
World Bank’s Financial Sector Development Program (Financial
Sector Capacity Building Project). The consultants conducted an
extensive training needs assessment and afterwards developed 34
new training courses and provided them to EIFS. The training
materials follow the interactive methodological approach and
therefore consist of illustrations on all topics and many
hands-on practical exercises and case studies.
The aim of the Institute is to develop further and to broaden
their product offers, including certification programs and in
the long run even bachelor and master degrees. This goal is also
well visible in the EIFS vision:
“To be a fully-fledged independent center of excellence for
enhancing the development of human resources of the Ethiopian
Financial Services Industry.”
Capacity Building in 2010
Frankfurt School of Finance & Management started to work with
the Ethiopian Institute of Financial Studies (EIFS) in January
2010. After a very successful
six-months-capacity-building-project the project stakeholders
decided to extend the project for another six months. The
financing is made by the International Development Association
(IDA) in the context of the Financial Sector Capacity Building
Project for National Bank of Ethiopia.
After carrying out an extensive Training Needs Assessment in the first phase of the project, the objective of the second phase was to further improve and extend the EIFS curriculum and boost the management abilities in the Institute. In the context of the project 13 newly developed trainings were piloted and in total 34 new courses were developed –in the area of management, banking, insurance and microfinance. The updated curriculum of the Institute will guarantee an up-to-date training supply for the Ethiopian Financial and Insurance Sector. In addition to that, the Institute will be supported to improve its daily management and efficiency with the help of proper management tools, e.g. the quality of the trainings will be improved by the introduction of a more comprehensive and effective evaluation system. The implementation of proper MIS and a homepage for EIFS will upgrade the Institute’s administration and marketing capabilities.
Description of Actual Services provided
in the project:
» Development of strategic plan for
the Institute.
» Development of certified training
products
» Development of 34 new training
products based on the Training Needs Assessment results.
» Review of curriculum of EIFS and
revision of training products.
» Capacity building of EIFS staff
in the area of training evaluation.
» Capacity building of EIFS staff
in daily management
» Development of a training plan
for the second half of 2010.
» Delivery of 13 pilot workshops by
international trainers
» Implementation of MIS and
homepage for EIFS
Course Catalogue:
»
Management
»
Banking
»
Central Banking
»
Insurance
»
Training Program
Please complete the
Registration/application form and e-mail it at the
following address: eifs@nbe.gov.et