// WHAT IS THE PROGRAM ABOUT?

Rwanda Academy of Finance is a vocational training institute that aims at providing high quality training curricula for the different staff levels in the banking sector. There are 3 programs: RAF 1 for employees’ level, RAF 2 for middle management level and the Advanced Banking Leadership Programme (ABLP) for Heads of Departments and senior managers.
The RAF certificates will be required in Rwanda banking industry for employment purposes, as the sector grows professionally to cope with regional and international standards and demands.


RAF 1 and RAF 2 programs consist of 3 phases: 

  • A training curriculum per level in accordance with international standards and the organization of the production of on-site courses. These courses are given by well-trained professionals.
  • An e-learning platform containing texts and exercises adapted to the Rwanda situation. This e-learning blends with the already mentioned on-site courses.
  • The organization of yearly examinations on location, including written modules, monitored by international experts and organized by an independent examination board and leading to the delivery of high standard professional certificates per curriculum level by the Rwanda Academy of Finance, managed and controlled by the various players in the financial sector in Rwanda, including the Central Bank.
  • The ABLP Program consists of 3 phases:
  • The first phase includes three in-person modules held in Kigali, each focusing on a critical area of modern banking and leadership
  • The second phase of the program transitions into an online format. This module, Sustainable Finance & ESG, runs for four days and focuses on the growing importance of sustainability in the financial sector.
  • The final phase concludes with a 5-day immersive experience in Luxembourg with the B@nksim - Banking Simulation. This module is designed as an experiential learning platform, allowing participants to put into practice the skills and knowledge acquired throughout the program.

// LATEST UPDATES

// RAF IN NUMBERS

Total Graduates
0
RAF 1 Professionals
0
RAF 2 Professionals
0

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WHO CAN
PARTICIPATE ?

Participants are required to have obtained minimum a bachelors’ degree. Last year’s students for an academic bachelor’s degree in economy, business management and/ or accountancy are also welcome provided they present a recommendation from their Faculty board.

The access to the exam is limited to those trainees who have participated with a minimum of 90% of the course days’ attendance. Banks commit to enable their personnel to support their training by exempting them during the training period from travelling and evening tasks for professional purposes.

// Modules of the RAF 1 Program

The RAF 1 program consists of the followings modules:

1. Bank Organization & Banking Activity
2. Capital Market
3. Bank Accounts & Payment Services
4. Loans to Customers
5. Risk Management in Banking
6. Back Office Operations
7. Selling Financial Services
8. Company Accountancy for Non-Accountants
9. Anti-Money Laundering: AML & KYC

// Modules of the RAF 2 Program

The RAF 2 program consists of the followings modules:

1. Asset- Liability management- Basic Course
2. Credit Assessment and Credit Management
3. E- commerce and electronic banking
4. Branch Performance management
5. Marketing of financial services
6. Trade Finance
7. Legal aspects in banking & business
8. Off- balance banking: basic course
9. Principles of internal auditing
10. AML-CTF & Financing of proliferation of weapons of mass destruction

// Modules of the ABLP Program

The ABLP program consists of the following modules:

1. Strategy, Governance & Internal Control
2. Sustainable Finance and ESG
3. Leadership and People Management: Leading as a Manager Coach
4. Digital Transformation and Fintech
5. Financial Institution Analysis through Bank Simulation (B@NKSIM)

WHY SUBSCRIBE?

Own Competence

The RAF receives support from international training organisations with a strong reputation to set up curricula that meet the needs of the Rwanda banking sector. But it does not seek recognition of its competence based upon the reputation of the international training provider. The strength of the RAF will come from its own competence, quality provided, transparency and sustainable high level.

Reputable evaluation Board

The reputation of the certificates supplied by the RAF is essential and is based upon the transparency and high standard level of the examination board. The latter must be able to work independently, in collaboration with international experts whose demands align with the content of the e-Learning curricula provided by the RAF.

Skilful local trainers

The RAF structures the curricula through a training of trainers’ process provided by involved international training organisations. The main key element of success has therefore been that we have been able to find the necessary skilful local trainers, who followed the courses and acquired the competence and who contribute actively to the translation of international methodologies to local Rwandese situations and cases. Their willingness to continuously update the modules is the guarantee to success.

Commitment to train employees

The success of this initiative lies also in the willingness of the financial sector to send their employees to the F2F courses, to participate in the e-Learning programs, to attend the yearly exams and to keep financial professions updated.

// Trainers Profiles

Africa Innocent
Bernadette Kambundi
Jean Pierre Byiringiro
Bonaventure Urimube
Faith Kobusinge
Emile Iraguha
Jacqueline Nkwihoreze
Kayumba Polepole
Munyana Gertrude
Nkera Christian
Rukesha Valence
Seth Shyirakera
Steven Ndahiro

Get In Touch

Call For More Information

+250 788 878 562

Office Email

fred@rba.rw

MODULE 1: BANK ORGANISATION AND BANKING ACTIVITY

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to understand:

  • What are banks and what do they do?
  • Origins and development of banking institutions
  • Universal banks, specialist banks and mortgage banks, bank branches and subsidiaries
  • Bank intermediation activities (Intermediation ratio, trends and current developments, Funding, reinvestment of funds and interest margin, etc.)
  • Bank intermediation products (operations on capital markets, securities – transferable securities (fixed-income – variable-income and hybrid), foreign exchange, derivative products (swaps, options, futures, etc.), public debt markets
  • Structural components, business and product lines New actors and new trends: banks vs. fintechs

MODULE 2: CAPITAL MARKET

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to understand:

  • Financial Markets – What are financial markets and how can we understand them?
  • Financial Instruments – What are the financial instruments that are used in financial markets and how can we describe them?
  • Financial Activities – What are the main activities that are performed in financial markets?
  • Financial Players – Who are the different players in financial markets and what functions do they perform?
  • Presentation of the different actors, products and markets (money, bonds, equities, currency, options, alternative markets)
  • What are the financial instruments that are used in financial markets and how can we describe them (financial assets, money markets, bonds, derivatives, etc.)?
  • What are the main activities that are performed within financial markets? The impact of globalisation and technical innovations affecting capital markets

MODULE 3: BANK ACCOUNTS AND PAYMENT SERVICES

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the learners will be able to understand:

  • Why choose a bank? 
  • Terms and conditions before opening a bank account
  • Types of account and types of power of attorney / mandate
  • Services offered by a banking institution
  • Legal framework
  • The different payment instruments and their operational aspects
  • Bank transfers: specificities, types of beneficiaries, payment routes and new pricing provisions Electronic payments: cash withdrawal cards, telephone banking, ebanking, cheques, domiciliation, etc.

MODULE 4: LOANS TO CUSTOMERS

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to understand:

  • Current account loans (line of credit, cards, advances/overdrafts, cheques), purpose and associated risks
  • Consumer loans, characteristics and purposes
  • Property loan, characteristics and granting criteria
  • Specific loans (fixed term advances, bank guarantees, Lombard loans and student loans) and their purpose
  • The various guarantees that may be required when a loan is granted (principal, real, personal, moral, subsidiary)

MODULE 5: RISK MANAGEMENT IN BANKING

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to understand:

  • Risk management in banking
  • Tools for measuring and managing risk
  • Market risk and the different types of risk that belong to it
  • Credit risk and how to manage it
  • Operational risk across different departments
  • Liquidity risk and how it impacts banks Future trends in risk management for banks
  • Understand the fundamentals of risk and risk management
  • Understand the different types of risks in financial services
  • Evaluate the regulatory environment for managing risk in banks and investment funds Acquire knowledge about how to measure and manage risk.

MODULE 6: BACK OFFICE OPERATIONS

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to understand:

  • Front Office transaction processing
  • Domestic clearing
  • Cash management
  • Clearing BNR
  • Corporate operations
  • Loan processing
  • Money market transactions
  • FOREX related operations
  • Securities transactions
  • Digital Banking

MODULE 7: SELLING FINANCIAL SERVICES

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to understand:

  • The key sales behaviour for a successful customer relationship
  • Sales funnel and customer approach
  • Customer interaction (dialogue, active listening, handling objections…)
  • Pricing negotiation

MODULE 8: COMPANY ACCOUNTANCY FOR NON ACCONTANTS

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to understand:

  • What is accounting?
  • Balance sheets and income statements
  • The accounting system over the accounting year
  • Accounting documents
  • Principles of year-end entries
  • Accounting for banks and accounting standards
  • Regulatory reporting
  • Financial analysis of banking institutions
  • Financial statement analysis
  • Financial structure and performance
  • Non-balance sheet analytical data

MODULE 9: ANTI-MONEY LAUNDERING: AML& KYC

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to understand:

  • Definition of anti-money laundering and terrorism financing
  • The duties of financial institutions in the fight against money laundering and terrorism financing: professional obligations
  • Fight against money laundering and terrorism financing within an international framework
  • Know your customer principles, typologies and methods
  • Implementation of AML programs
  • Case studies

MODULE 1: ASSET-LIABILITY MANAGEMENT(ALM) –BASIC COURSE

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Understand the importance of ALM
  • Understand the overview of the techniques used and its application
  • Understand Assets & Liabilities Management
  • Understand Liquidity Mismatch
  • Describe Liquidity Management
  • Understand ALM International Standards

MODULE 2: CREDIT ASSESSMENT & CREDIT MANAGEMENT

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Gain an overall understanding of what is Credit risk management
  • Understand the importance of credit risk management
  • Describe credit risk management principles and common practices
  • Be equipped with advanced knowledge of the key concepts
  • Analyse Financial risk components, Rating analysis, Risk models, Economic and regulatory capital
  • Understand the industry players in credit risk management and the credit risk cycle
  • Gain advanced knowledge about credit risk standards and industry best practices with practical case studies

MODULE 3: E-COMMERCE AND ELECTRONIC BANKING

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Understand the concept of electronic banking (E-banking), mobile banking and a general understanding electronic commerce (E-Commerce)
  • Equipped with modern and more current developments in the Banking Sector (World Wide Web, Global village, International products and services, Unbanked clients, Human interface, Cash transactions, Branch Network (ATMs, Branches, Cards, POS, Mobile Banking)

MODULE 4: BRANCH PERFORMANCE MANAGEMENT

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Understand the various aspects of the management of a branch
  • Understand the financial aspects (income and expenses, the customer relationship aspect, the operational aspect, the management of the various channels the customers use)
  • Understand how to achieve company goals through leadership and how to drive productivity through people using different new platforms

MODULE 5: MARKETING OF FINANCIAL SERVICES

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Understand Marketing and Sales skills in the Banking Sector
  • Understand the basic approaches of Strategic Planning, marketing and Sales importance
  • Gain knowledge on how to marketing and Sales in the Banking Sector
  • Define strategic planning
  • Identify basic approaches to strategic planning, Strategic choices, and Strategic positioning
  • Describe Consumer Behaviours

MODULE 6: TRADE FINANCE

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Understand the risks associated to International Trade
  • Understand the different Techniques of payment in International trade
  • Understand different concepts, rules and their application in handling transactional trade finance
  • Obtain the skills and knowledge of drafting, issuing Letters of credit and analysis of different terms of contracts between the importer and the exporter

MODULE 7: LEGAL ASPECTS IN BANKING AND BUSINESS

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Gain the fundamental knowledge about legal aspects in banking and business
  • Understand practical legal problems
  • Obtain a wider conceptual context of banking regulation such as, the key laws and regulations governing the banking business
  • Describe fraud, forgery & money laundering 
  • Understand the main principles governing the relationship between banks and their clients

MODULE 8: OFF-BALANCE SHEET FINANCING

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Understand off balance sheets
  • Identify the types of off balance sheet items
  • Define and understand each type of off balance sheet items
  • Recognize the purpose of off-balance sheet items
  • Analyse the benefits and risks of off-balance sheet financing
  • Describe off-balance sheet financing and how to analyse it
  • Understand how it works and why it is important
  • Understand different global cases that contain off-balance sheet information
  • Understand the benefits and risks of Off-balance sheet financing

MODULE 9: PRINCIPLES OF INTERNAL AUDITING

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Understand roles of internal audit and its mandate in an organization
  • Understand the concepts of Independence, objectivity, Proficiency, Care and Quality Internal Audit Charter
  • Get acquainted with Internal Audit Approach/Methodology
  • Understand Governance
  • Understand Audit and regulations

MODULE 10: AML-CTF&FINANCING OF PROLIFERATION OF WEAPONS OF MASS DESTRUCTION

PROPOSED DURATION: • 16 HOURS’ CLASS

Learning objectives:

At the end of this course, the leaners will be able to:

  • Have a fundamental knowledge on the subject matter
  • Have a deep knowledge on how to fight against money laundering and financing of terrorism
  • Obtain sufficient information about the legal and prudential requirements
  • Understand the tasks and obligations of the bankers as well as the behavior towards the customer

STRATEGY, GOVERNANCE, & INTERNAL CONTROL

PROPOSED DURATION: • 5 DAYS

Learning objectives:

By the end of this module, participants will be able to:

  • Define and monitor long-term strategies in alignment with the Mission, Values, and Risk Appetite set by the Board of Directors.
  • Translate the fundamental principles of corporate governance into robust and effective organisational practices.
  • Apply the Fit and Proper requirements at both Non-Executive and Executive levels.
  • Identify and explain the expected contributions of Commercial, Support, and Control functions within a sound risk management framework.
  • Describe the positioning, purpose, and functioning of the Risk Management, Compliance, and Internal Audit functions.
  • Distinguish between the main financial and non-financial risk categories to which a financial institution is exposed and outline the associated risk management tactics and mitigating measures.
  • Explain the risk management cycle and analyse the interrelationships across risk categories, including the cause-and-effect domino dynamics between them.

SUSTAINABLE FINANCE AND ESG

PROPOSED DURATION: • 2 DAYS

Learning objectives:

By the end of this module, participants will be able to:

  • Map ESG priorities to their bank’s strategic objectives and identify 2–3 concrete areas for integration (e.g., lending policies, product design, client segmentation). 
  • Design governance arrangements by defining clear roles, responsibilities, and decision-making processes for ESG within their organization. 
  • Embed ESG factors into existing risk management frameworks, including credit, market, and operational risk assessment practices. 
  • Interpret and apply relevant ESG regulations and reporting standards to their bank’s context, identifying immediate compliance gaps and actions. 
  • Develop a practical, step-by-step action plan to implement ESG initiatives in their own bank, including quick wins and longer-term priorities.

LEADERSHIP AND PEOPLE MANAGEMENT: Leading as a Manager Coach

PROPOSED DURATION: • 4 DAYS

Learning objectives:

By the end of this module, participants will be able to:

  • Reflect on their personal leadership style and managerial role.
  • Adopt a coaching mindset to empower and develop their team members.
  • Manage performance effectively while maintaining motivation and engagement.
  • Identify and develop future talents within their organization.
  • Balance team care with self-care for sustainable leadership.

DIGITAL TRANSFORMATION AND FINTECH

PROPOSED DURATION: • 4 DAYS

Learning objectives:

By the end of this module, participants will be able to:

  • Assess the main transformation drivers impacting their institution and translate them into clear priorities.
  • Map a priority customer journey and identify concrete opportunities to improve customer experience and operational efficiency.
  • Compare key digital banking business models (platforms, partnerships, BaaS, embedded finance) and select relevant options for their context.
  • Select and justify high-value digital/AI/data/cloud use cases, including value, feasibility, and key risks.
  • Define a pragmatic transformation roadmap (quick wins + mid-term initiatives) with governance, KPIs and change/adoption actions.
  • Present a concise “transformation blueprint” to stakeholders (structure, rationale, and expected outcomes).

FINANCIAL INSTITUTION ANALYSIS THROUGH BANK SIMULATION (B@NKSIM)

PROPOSED DURATION: • 5 DAYS

Learning objectives:

By the end of this module, participants will be able to:

  • Describe the main methods used by external observers to analyse financial institutions.
  • Explain the major decisions currently taken in the banking sector and their implications.
  • Analyse how different areas of the banking business interact to influence overall business and financial performance.
  • Interpret the overall strategy of their financial institution and its key drivers.
  • Apply knowledge from the simulation game to connect and synthesise the topics covered during the four previous modules.