Standard Chartered and BRAC University celebrate the first graduation of the co-developed FCC Certification Program

Standard Chartered Bangladesh and BRAC University recently celebrated the graduation of the first batch of financial crime and compliance experts from the "FCC Certification Program". The programme has been co-developed by Standard Chartered and BRAC University. It bridges academic rigour with the practical requirements of the private sector to tackle the complexities of financial crimes. Launched in early 2024, this initiative was the first of its kind in the country.

The FCC Certification Program highlights the growing importance of raising compliance standards and fighting financial crime to protect the industry and the society. Course topics included identification and prevention of money laundering, terrorist financing, and other illicit financial activities. The importance of ethics, necessary controls, and compliance measures were also covered. Throughout the course, students were mentored by banking professionals and other experts from Standard Chartered Bangladesh, Bangladesh Financial Intelligence Unit (BFIU), BRAC Business School, and BRAC University.

During the certificate distribution ceremony, Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh, emphasised the critical relevance of FCC in today's rapidly evolving landscape of information and technology. He said, "Fraudulent financial transactions are draining billions of Bangladeshi Taka from the country each year, resulting in significant harm to the government, banks, and the public. By applying the knowledge acquired in this course, we have the opportunity to prevent such illicit activities, providing substantial benefits for governmental bodies, financial institutions, and the community at large."

Professor Mahboob Rahman, Treasurer, BRAC University, stated that the FCC certificate course will serve as a pivotal milestone in fostering a stronger bridge between industry and academia. He said, "Ethics are essential building blocks for developing a sustainable financial sector. The function of the University is to inculcate ethics and sympathy in the students along with knowledge." He underscored the importance of collaboration among all stakeholders, including the government, to eradicate irregularities in the financial sector. He expressed optimism that this certificate programme would significantly enhance academia-industry relations and foster mutual development.

Professor Mujibul Haque, Acting Dean, BRAC Business School, BRAC University, commented that acquiring knowledge in financial crime and compliance will provide students with a distinct advantage in their professional endeavours, setting them apart from their peers. He said, "This course has been effective in enhancing knowledge and refining skills to the participants, enabling them to better identify and prevent financial crimes."

The event was led by Prof. Mohammad Mahboob Rahman alongside Naser Ezaz Bijoy and Dr Mohammad Mujibul Haque. The ceremony celebrated the dedication and achievements of the programme's participants. During the event, students shared their experiences, highlighting its significance as a cornerstone in their academic journey. They highlighted the practical utility of the course, affirming that the skills and knowledge gained will prove invaluable in their professional lives.