DUSHANBE, February 19, 2015, Asia-Plus — An interactive simulation training course “Strategic banking – bank management in the competitive market” took place in Dushanbe on February 16-18.
According to the GZ Office in Tajikistan, the course was delivered by the international expert, Dr. Marko Rimkus, and brought together over twenty-five top and mid-level managers of various financial institutions of Tajikistan.
Organizers of the training course were Center of Training and Development of Microfinancing of Tajikistan under AMFOT in partnership with GIZ Program “Framework and Finance for Private Sector Development” (FFPSD) funded by UKaid, Department for International Development (DfID) and German Federal Ministry for Economic Cooperation and Development (BMZ).
The purpose of the bank simulator TOPSIM is to help banking sector specialists develop technical skills and leadership qualities. Specialists gain those through studying the principles of work in the “entrepreneurial spirit”, in line with the strategic, equity and value-oriented management. Other objectives include, inter alia, the formation of results-based team interaction, as well as the organization of an efficient and effective decision-making process within the team.
Training participants tried out their ability to perform financial transactions on simulated foreign and domestic financial markets and stock exchanges, which is extremely helpful for the development of skills for managing financial institutions. Furthermore, they were able to take control of personnel, as an integral part of any successful business. In this regard, TOPSIM program allows making different decisions about staff training to improve the quality of services, introduction of incentives to ensure growth of the staff satisfaction, as well as with respect to investments in the expansion of the branch network and their service points. It is important to note that within the frames of the simulator every decision of “the banks management” along with all other factors affect the market coverage, efficiency and profitability of a financial institution (as in real life), which is ultimately reflected in the ratings of all “participating banks.”
The inclusive nature of the bank simulator allows for conduction of trainings for a wide range of target audience – from senior executives of financial institutions to junior staff and, most importantly, to students who study banking related disciplines.
