Islamabad, The Competition Commission of Pakistan (CCP) has granted approval for the merger between the Institute of Bankers Pakistan (IBP) and the National Institute of Banking and Finance Pakistan (NIBAF), marking a significant consolidation in the country’s banking education sector.

According to Competition Commission of Pakistan, the merger involves a Scheme of Arrangement where all assets and liabilities of the IBP will be transferred to NIBAF, with IBP subsequently dissolving and NIBAF emerging as the singular entity. This merger is structured under a not-for-profit framework, with no financial consideration exchanged in the process.

The CCP’s Phase-I competition assessment delineated ‘Testing and Recruitment Service’ and ‘Training Service – Banking and Finance’ as the relevant product markets. The assessment concluded that the merger would not substantially lessen competition, nor create or strengthen any dominant position within these markets.

This strategic consolidation is designed to enhance banking education facilities and bridge the gap between education and employment for banking professionals in Pakistan, aiming to bolster the overall quality and reach of banking education and professional development within the region.