Rwanda Academy of Finance is an institute of vocational training aiming to provide with high quality training curricula for the different staff levels of the banking sector. There will be 3 programs to be developed: RAF 1 for employee level, RAF 2 for middle management level and RAF 3 for senior management level.
Every RAF program consists of 3 phases:
- A training curriculum per level in accordance with international standards and the organization of the production of on-site courses.
- An e-learning platform containing texts and exercises adapted to the Rwanda situation.
- The organization of yearly examinations on location, monitored by international experts and leading to high standard professional certificates per curriculum level (RAF 1,2 & 3)
The certificates RAF 1,2,3 will be required in the future by banks in Rwanda when individuals want to apply for a job in the sector.
The RAF 1 program -aiming at bank employee level- consists of the following modules:
- Bank Organization & Banking Activity
- Capital Market
- Bank Accounts & Payment Services
- Loans to Customers
- Risk Management in Banking
- Back Office Operations
- Selling Financial Services
- Company Accountancy for Non Accountants
- Anti-Money Laundering: AML & KYC
The RAF 2 -aiming bank middle management- and 3 -aiming bank senior management- programs are still under construction and will respectively be finished September 2020 and September 2021.
The Rwanda Academy of Finance seeks to set up high quality training curricula for the different staff levels of the banking, insurance and microfinance sector in order to enhance the financial institutions’ staff competence and to influence the output quality from high education institutions.
The Rwanda Academy of Finance aims to become a credible financial institute setting the standards for professional financial studies and career standards in the various levels of banks, insurance organisations, microfinance and agrofinance organisations in Rwanda.