In a circular on Wednesday Bangladesh Bank said that obtaining banking diploma is a must to get promoted to a senior officer post in banks. “One has to pass both phases of the banking diploma. This rule will be applicable to promote the officers’ level of all scheduled banks operating in the country,” the circular stated. The banking regulation and policy department of BB issued the circular on Wednesday and sent it to the top executives of banks. This directive will be effective from January 1, 2024. At the same time, the central bank canceled the instructions given on October 13, 2022, in this regard. The notification said the new requirement won’t be applicable for those not directly involved in banking activities. The exceptions are for doctors, engineers (civil engineering, mechanical engineering, and electrical engineering.   According to the central bank, the syllabus of the Diploma in Banking includes all the theoretical and practical knowledge of banking subjects. In the first phase, basic and fundamental subjects related to banking are taught, and in the second phase, advanced banking knowledge and skills are tested. The Institute of Bankers, Bangladesh (IBB) offers this two-phase Banking Diploma degree. The BB circular stated that the importance of the banking sector in the country's overall development is immense. Such a directive has been issued considering the need to create skilled human resources with basic banking knowledge in this sector and increase the capacity of officials in decision-making.