Singapore's Institute of Banking and Finance (IBF) has launched a Financial Industry Competency Standards framework, Channel NewsAsia said on Friday night.

Backed by a certification and accreditation system, the framework identifies the skills and the knowledge required for a specific job in the financial sector.

The standards are in accord with "the best practices found in other leading financial centers and the Singapore National Continuing Education and Training Framework," said the report.

A total of 52 job functions with up to six job levels for each function in the industry are included in the framework at present.

The IBF expects the move to help upgrade the skills and enhance the professional standards of those working in the financial industry.

Source: Xinhua