Banking Training Institute (IFBL)
- Name of the instrument - Local language
- Institut de formation bancaire Luxembourg (IFBL)
- Name of the instrument - English translation
- Banking Training Institute (IFBL)
- Scheme ID
- 141
- Country
- Luxembourg
- Reporting year
- 2015
- Type of instrument
- Training fund
- Type of entry
- Single instrument
- Short description
Companies of the financial sector are obliged to contribute a fixed share of payroll costs (1%) to a training fund which, in return, provides funding for training employees of the financial sector for the banking environment in Luxembourg and the various trades that the industry offers.
- Short description of the related instruments
nap
- Level of operation
- Sectoral
- Name of a part of the country
- nap
- Name of the region (for regional instruments)
- nap
- Name of the sector (for sectoral instruments)
- Financial / banking
- Legal basis
IFBL is officially accredited as a provider of continuing training courses in the frame of art 47, law of September 1990.
- Objective(s) and target(s)
To train employees of the financial sector for the banking environment in Luxembourg and the various trades that the industry offers.
- Year of implementation
- 1990
- Operation/management
Management: employers'organisation; monitoring: The Luxembourg Bankers' Association (ABBL).
- Eligible group(s)
Companies contributing to the fund.
- Group(s) with preferential treatment
None
- Education and training eligible
Areas include: insurance banking, business management, law, fiscal law, economy, financial management, pedagogy.
- Source of financing and collection mechanism
Member companies (institutions that are party to the collective agreement) commit annually 1% of their payroll.
- Eligible costs
Fees and other costs related to training (such as costs of materials)
- Volumes of funding
In the period 2008 to 2010 approximately EUR 500 000 per year were spent.
- Beneficiaries/take up
No data on beneficiaries are available. 105 000 training hours per year were supported via this scheme.
- Organisation responsible for monitoring/evaluation
Institut de formation bancaire Luxembourg (IFBL).
- Monitoring/evaluation reports available
na
- Most relevant webpage - in English
na
- Most relevant webpage - local language
- Sources
- Short description
- Short description of the related instruments
- Level of operation
- Name of a part of the country
- Name of the region (for regional instruments)
- Name of the sector (for sectoral instruments)
- Legal basis
- Objective(s) and target(s)
- Year of implementation
- Operation/management
- Eligible group(s)
- Group(s) with preferential treatment
- Education and training eligible
- Source of financing and collection mechanism
- Eligible costs
- Volumes of funding
- Beneficiaries/take up
- Organisation responsible for monitoring/evaluation
- Monitoring/evaluation reports available
- Most relevant webpage - in English
- Most relevant webpage - local language
- Sources