Oman Academic
Accreditation Authority
Report of an Audit of the
College of Banking and
Financial Studies
October 2011
HEI Quality Audit Report College of Banking and Financial Studies
© Oman Academic Accreditation Authority
Audit Report Number 024
©2011 Oman Academic Accreditation Authority
P.O. Box 1255
P.C. 133
Al-Khuwair
Sultanate of Oman
Ph +968 24614361/2
Fax +968 2461 4364
http://www.oac.gov.om
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CO�TE�TS
Overview of the Quality Audit Process..................................................................................................... 3
How to Read This Report........................................................................................................................... 4
Conclusions.................................................................................................................................................. 5
Executive Summary of Findings ............................................................................................................. 5
Summary of Commendations .................................................................................................................. 7
Summary of Affirmations........................................................................................................................ 7
Summary of Recommendations............................................................................................................... 8
1 Governance and Management............................................................................................................ 11
1.1 Mission, Vision and Values......................................................................................................... 11
1.2 Governance................................................................................................................................. 12
1.3 Management ............................................................................................................................... 13
1.4 Institutional Affiliations for Programs and Quality Assurance................................................... 14
1.5 Strategic Plan.............................................................................................................................. 15
1.6 Operational Planning .................................................................................................................. 16
1.7 Financial Management ............................................................................................................... 16
1.8 Risk Management....................................................................................................................... 17
1.9 Policy Management .................................................................................................................... 17
1.10 Entity and Activity Review Systems .......................................................................................... 17
1.11 Student Grievance Process ......................................................................................................... 18
1.12 Health and Safety ....................................................................................................................... 18
1.13 Oversight of Associated Entities (e.g. owned companies) ......................................................... 18
2 Student Learning by Coursework Programmes ............................................................................... 19
2.1 Graduate Attributes and Student Learning Objectives ............................................................... 20
2.2 Curriculum.................................................................................................................................. 20
2.3 Student Entry Standards ............................................................................................................. 20
2.4 Foundation Programme .............................................................................................................. 21
2.5 Teaching Quality ........................................................................................................................ 22
2.6 Plagiarism................................................................................................................................... 22
2.7 Student Placements..................................................................................................................... 22
2.8 Assessment Methods, Standards and Moderation ...................................................................... 23
2.9 Academic Security and Invigilation ........................................................................................... 23
2.10 Student Retention and Progression............................................................................................. 23
2.11 Graduate Destinations and Employability.................................................................................. 24
3 Students Learning by Research Programmes................................................................................... 25
3.1 Research Programme Design...................................................................................................... 25
3.2 Supervisors ................................................................................................................................. 25
3.3 Postgraduate Supervision and Student Research Support .......................................................... 26
3.4 Thesis Examination .................................................................................................................... 26
3.5 Retention, Graduate Destinations and Employability ................................................................ 26
4 Staff Research and Consultancy......................................................................................................... 27
4.1 Research Planning and Management.......................................................................................... 27
5 Industry and Community Engagement ............................................................................................. 28
5.1 Industry and Community Engagement Planning & Management .............................................. 28
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5.2 Relationship with Industry and Employers ................................................................................ 28
5.3 Relationship with Professions .................................................................................................... 29
5.4 Relationship with Other Education Providers ............................................................................ 29
5.5 Relationship with Alumni........................................................................................................... 29
5.6 Relationship with the Community at Large................................................................................ 30
6 Academic Support Services ................................................................................................................ 31
6.1 Academic Support Services Planning & Management............................................................... 31
6.2 Registry (Enrolment and Student Records) ................................................................................ 31
6.3 Library ........................................................................................................................................ 32
6.4 Information and Learning Technology Services......................................................................... 33
6.5 Academic Advising .................................................................................................................... 33
6.6 Student Learning Support........................................................................................................... 34
6.7 Teaching Resources .................................................................................................................... 34
7 Students and Student Support Services............................................................................................. 35
7.1 Students and Student Support Services Planning & Management ............................................. 35
7.2 Student Profile ............................................................................................................................ 36
7.3 Student Satisfaction and Climate................................................................................................ 36
7.4 Student Behaviour ...................................................................................................................... 37
7.5 Career and Employment Services............................................................................................... 37
7.6 Student Finances......................................................................................................................... 38
7.7 Accommodation, Catering and Transport................................................................................... 38
7.8 Medical and Counselling Facilities ............................................................................................ 38
7.9 International Student Services .................................................................................................... 39
7.10 Social and Recreational Services and Facilities ......................................................................... 39
8 Staff and Staff Support Services ........................................................................................................ 40
8.1 Human Resources Planning & Management.............................................................................. 40
8.2 Staff Profile................................................................................................................................. 40
8.3 Recruitment and Selection.......................................................................................................... 40
8.4 Induction..................................................................................................................................... 40
8.5 Professional Development.......................................................................................................... 41
8.6 Performance Planning and Review............................................................................................. 41
8.7 Promotion and Other Incentives ................................................................................................. 42
8.8 Severance.................................................................................................................................... 42
8.9 Staff Organisational Climate and Retention ............................................................................... 42
8.10 Omanisation................................................................................................................................ 42
9 General Support Services and Facilities............................................................................................ 44
9.1 General Support Services and Facilities Planning and Management ......................................... 44
9.2 Public Relations and Marketing ................................................................................................. 44
9.3 Communication Services............................................................................................................ 44
9.4 Facilities Management................................................................................................................ 44
Appendix A. Audit Panel ...................................................................................................................... 45
Appendix B. Abbreviations, Acronyms and Terms............................................................................ 46
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OVERVIEW OF THE QUALITY AUDIT PROCESS
This Quality Audit Report (the ‘Report’) documents the findings of a Quality Audit by the Oman
Academic Accreditation Authority (OAAA) of the College of Banking and Financial Studies (CBFS). It
comments on CBFS’s Mission and Vision, and the appropriateness and effectiveness of its systems for
achieving that Mission and Vision. Quality Audit is the first stage in Oman’s institutional accreditation
process. It is designed to provide a level of assurance to the public about the quality of CBFS’s activities
and constructive feedback to the College to assist with its ongoing improvement efforts.
The Quality Audit commenced with CBFS undertaking a self study of its Mission, Vision and systems.
The results were summarized in their Quality Audit Portfolio (the ‘Portfolio’). This document was
submitted to the OAAA by the due date of 1 December 2010.
The OAAA appointed an external Audit Panel (the ‘Panel’), comprising suitably qualified and
experienced local and international reviewers, to conduct the Quality Audit. For membership of the Panel
see Appendix A. The Panel met (international members by telephone) on 15 January 2011 to consider
CBFS’s Portfolio. Following this, a representative of the Audit Panel Chairperson and the Executive
Officer undertook a planning visit on behalf of the Panel to CBFS on 13 February 2011 to clarify certain
matters, request additional information and make arrangements for the Panel’s audit visit.
Prior to the audit visit, the Panel invited submissions from the public about the quality of CBFS’s
activities. Two valid submissions were received.
The audit visit took place over 13-15 March 2011. During this time, the Panel spoke with over 100
people, including governing authorities, staff, students and external stakeholders. They also visited a
selection of venues and examined additional documents.
No documents created after 15 March 2011 (being the last day of the audit visit) were taken into
consideration for the purposes of this audit.
The Report contains a summary of the Panel’s findings, together with formal Commendations where good
practices have been confirmed, Affirmations where CBFS’s ongoing quality improvement efforts merit
support, and Recommendations where there are significant opportunities for improvement not yet being
adequately addressed. The Report aims to provide a balanced set of observations, but does not comment
on every system in place at CBFS.
The Panel’s audit activities and preparation of this Report were governed by regulations set by the OAAA
Board. This Report was approved for release by the OAAA Board on 31 October 2011.
The OAAA was established by Royal Decree No. 54/2010. Its responsibilities include conducting quality
audits of higher education institutions (HEIs) in the Sultanate of Oman. For further information, visit the
OAAA website (http://www.oac.gov.om). Full details of the quality audit process are available in
OAAA’s HEI Quality Audit Manual (available from http://www.oac.gov.om/qa/HEI/).
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HOW TO READ THIS REPORT
Each OAAA Audit Report is written primarily for the institution being audited. The Report is specifically
designed to provide feedback to help that institution better understand its own strengths and opportunities
for improvement. The feedback is structured according to nine broad areas of activity and presented as
formal Commendations, Affirmations and Recommendations, or as informal suggestions, each
accompanied with explanatory paragraphs. It is expected that the institution will act upon this feedback
as part of its continuous efforts to provide the best possible education to students.
The Report is made public because it also may be of interest to students and potential students, their
families, employers, government, other higher education institutions in Oman and abroad, and other
audiences. Students, in particular, may find this Report useful because it provides some independent
comment on the learning environment at this institution (particularly Chapters 2, 6 & 7). However, prospective students should still undertake their own investigations when deciding which higher
education institution will best serve their particular learning needs.
Quality Audit is the first stage in Oman’s two-stage process for institutional accreditation. Its focus is
formative (developmental) rather than summative. In other words, although the audit addresses nine
areas of activity which are common to all institutions, it does not measure the institution against
externally set standards of performance in those nine areas. Instead, it considers how well the institution
is attending to those areas in accordance with its own Mission and Vision and in the context of relevant
legal regulations. Therefore, Quality Audit recognises that each institution has a unique purpose and
profile; it does not directly compare one institution with all the other institutions in Oman.
For these reasons, a Quality Audit does not result in a pass or fail; nor does it provide any sort of grade or
score. It should also be noted that the precise number of Commendations, Affirmations and
Recommendations that an institution receives in its Audit Report is not as important as the substance of
those conclusions. For example, some Recommendations may focus on critical issues such as assessment
of student learning, whereas others may focus on issues such as the maintenance of teaching equipment in
classrooms which, while important, is clearly less critical. Therefore, it is neither significant nor
appropriate to compare the Audit Reports of different HEIs solely on the numbers of Commendations,
Affirmations and Recommendations.
The second stage in the institutional accreditation process is Standards Assessment. Unlike the Quality
Audit, this stage, which will take place about four years after the Quality Audit, does provide a
summative assessment against external standards in the same nine areas of activity. It should be noted
that Oman also operates a system of accreditation/recognition for academic programmes, separately from
the institutional accreditation process. For more information on Oman’s System of Quality Assurance in
Higher Education please visit www.oac.gov.om.
This Report contains a number of references to source evidence considered by the Audit Panel. These
references are for the HEI’s benefit in further addressing the issues raised. In most cases this evidence is
not in the public domain.
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CO�CLUSIO�S
This section summarises the main findings and lists the Commendations, Affirmations and
Recommendations. They are listed in the order in which they appear in the Report, and are not
prioritised. It should be noted that other favourable comments and suggestions for improvement are
mentioned throughout the text of the Report.
Executive Summary of Findings
The College of Banking and Financial Studies (CBFS) operates under the supervision of the Central Bank
of Oman (CBO). It has grown from being essentially an industry training organisation, training Omani
citizens for roles in the banking and finance industry, to being a higher education provider open to
industries other than banking and finance, while retaining a banking and finance focus for core offerings.
The College originated as the “Oman Institute of Bankers” in 1983 as a result of a Royal Decree (No
64/1983). The Mission of this Institute was to train Omanis in the field of banking. Success in this was
followed by the creation of the “Institute of Banking and Financial Studies” by a second Royal Decree
(No 83/1998); this reflected a diversifying of professional course offerings in the broad area of finance.
In recognition of subsequent further development and broadening of its role and activities, Royal Decree
(No 12/2004) changed the name of the Institute to the “College of Banking and Financial Studies”. This
change supported the College in increasing its offering of academic programmes and in admitting school
leavers and employees from a wider range of sectors.
The College’s strategy for developing its provision of professional courses and academic programmes is
to host the provision of internationally recognized courses and programmes by a range of international
partners. The rationale for this is to ensure that international standards are maintained. Under this
arrangement, the College has three partners offering academic programmes: the University of Strathclyde
(UoS, UK) which offers its MBA; the University of Bradford (UoB, UK) which offers BSc programmes
in Accounting and Finance, and Business and Management as well as a Foundation Certificate in
Combined Studies; and the Arab Academy of Banking and Financial Studies (Jordan) which offers a BSc
in Banking and Finance. The College also offers its own General Foundation Programme. In 2009-2010,
the College had a total of 1723 students. Of these, approximately 30 percent were studying at the
foundation level and around 20 percent were enrolled on degree programmes. The remaining students
were enrolled on professional courses.
CBFS reported in depth on the topic of “governance and management” in its Portfolio although some
subsequent areas were dealt with less comprehensively. The Portfolio utilized ADRI (Approach,
Deployment, Results, Improvement – see Appendix B) headings for each area reported on but the
commentary remained primarily descriptive, highlighting a general lack of data available on which to
base critical analysis and formulate evidence-based conclusions. Development of the Portfolio was,
nevertheless, undertaken by the College as a genuine and inclusive self-study exercise.
CBFS has considerable strength in its governance and management. It recently engaged in a systematic
and thorough review of its Mission, Vision and Values resulting in statements that have been embraced
by relevant stakeholders and which are guiding the College’s work. The College makes extensive use of
external reviews and this has supported the development and maintenance of clear and effective
governance arrangements.
The management of the College is aided by various committees, including a particularly active Academic
Affairs Committee, although a system is needed to ensure that the terms of reference of these long-
standing groups, along with other institutional policies and documents, are reviewed and updated
regularly. The College has a Quality Assurance Committee and a more recently established Quality
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Assurance Group, although fulfillment of their respective identified roles will require enhanced direction.
The College has established strong partnerships with its UK affiliates whose programmes, and the
accreditations these carry, directly support the College’s Mission. On the other hand, the College’s
affiliation with the Arab Academy is currently under review; a number of quality issues need to be
resolved if this programme is to re-start enrollment and continue to run.
Together with the aid of external consultants, strategic planning has been undertaken by the College.
The Strategic Plan itself now needs to be finalized and to be supported by the implementation of more
effective systems of both operational planning and risk management than currently exist. There is also a
need for the College to implement a comprehensive policy and associated procedures to guide its
planning and management of health and safety.
The College has engaged in critical review of its entry criteria for academic programmes and has
enhanced these in the long-term interest of producing high quality graduates. In terms of assessment, the
College has developed expertise in the area of examination security and administration through its
partnerships with internationally recognized organizations and administration of their examinations.
These partnerships bring a variety of good teaching practices to CBFS but a mechanism is required for
these to be shared effectively, and for teaching quality across the College to be monitored consistently.
Institutional data collection and analysis is underdeveloped at the College. This is particularly evident in
relation to monitoring both retention and progression on academic programmes as well as the
employability of graduates. The College is, however, in the process of implementing a comprehensive
management information system which will support the College in maintaining a comprehensive data
base which can also be used to support institutional research.
In response to its Vision to become a recognized “world-class Centre of Excellence” by 2020, the
College is taking steps towards developing a research centre which targets, in particular, applied research
in its core business areas. Whilst research and consultancy functions have therefore yet to be developed,
the College has been a UoS MBA Centre since 2000. Whilst appreciating the international recognition
of this MBA, it is still important for the College to not only systematically monitor and evaluate retention
and completion rates of its students on this programme but also its impact on the employment
performance of graduates.
The College’s link with the finance industry and community is inherent in its status as a division of CBO
and its receipt of funds from the sector as directed by CBO. This has been strengthened by the relatively
recent establishment of a College Academic Advisory Panel which includes members of the banking and
related industries as well as College staff. The College now needs to develop and implement systems that
provide formal feedback from stakeholders about the College’s programmes. This includes the need for
the College to engage effectively with its alumni, perhaps by building on the practices of individual
affiliate partners to engage with alumni from their particular programmes. In order to drive its initiatives
and evaluate its performance in the area of industry and community engagement, an overarching plan,
which is aligned to strategic goals and includes defined key performance indicators, is required.
CBFS mainly serves as a vehicle for the delivery of programmes from other institutions but it has a key
role to play in the provision of academic and general support services. Two factors in particular have
contributed to the challenges concerning the College’s provision of these. Firstly, the hosting of
programmes from different affiliate partners brings programme-specific demands and practices.
Secondly, the evolution of CBFS from an “institute” to a “college” has been accompanied by admission
of secondary school graduates, a group requiring considerably more support than working adults. The
College is lacking a clear conceptual framework within its organizational structure for the provision of
consistent and integrated academic and general support services and needs to build on its efforts to date to
develop a comprehensive plan for both areas which aligns with the College’s strategic planning and
includes mechanisms for systematic evaluation. This should, for example, guide the College towards
ensuring the provision of effective academic advice to students on all, rather than only some, academic
programmes. With respect to general support services, enhanced planning should support steps taken by
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the College to enhance communication with students through establishing a Student Council and
conducting regular student satisfaction surveys.
CBFS has a comprehensive set of staff regulations, which, although in need of review and update, support
the College’s planning and management of staff and staff support services. The College needs, however,
to enhance both horizontal and vertical communication in the College, both in general and in order to
share good practice derived from different affiliates. It also needs to conduct regular staff satisfaction
surveys and enhance its planning for the Omanisation of faculty positions.
The College currently occupies a well-maintained, purpose-built building which was completed in 2004.
Since then, the campus has been subject to review and further development in a manner which appears
sustainable and aligned with the strategic intent of the College.
Summary of Commendations
A formal Commendation recognises an instance of particularly good practice.
1. The Oman Academic Accreditation Authority commends the College of Banking and
Financial Studies for the timely, thorough and systematic review of its Vision and Mission
and its adoption of new statements that have been effectively communicated and are well
understood by the College community. ............................................................................................ 12
2. The Oman Academic Accreditation Authority commends the College of Banking and
Financial Studies for its clear governance arrangements and the rigorous review that these
are subjected to. ................................................................................................................................ 12
3. The Oman Academic Accreditation Authority commends the College of Banking and
Financial Studies for its well-established affiliations with internationally accredited business
schools which directly support its Mission....................................................................................... 15
4. The Oman Academic Accreditation Authority commends the College of Banking and
Financial Studies for subjecting its admission criteria to critical review and applying more
stringent criteria that are appropriate in relation to its strategic intent. ............................................ 21
5. The Oman Academic Accreditation Authority commends the College of Banking and
Financial Studies for the measures taken to ensure the security of examinations conducted at
the College........................................................................................................................................ 23
Summary of Affirmations
A formal Affirmation recognizes an instance in which the College of Banking and Financial Studies has
accurately identified a significant opportunity for improvement and has demonstrated appropriate
commitment to addressing the matter.
1. The Oman Academic Accreditation Authority agrees with the College of Banking and
Financial Studies that its affiliation with the Arab Academy of Banking and Financial
Services needs to be reviewed, with regard to both the continuation of the programme
currently offered and also the quality assurance arrangements for any future offerings, and
supports the steps being taken by the College to do this. ................................................................. 15
2. The Oman Academic Accreditation Authority agrees with the College of Banking and
Financial Studies that a Strategic Plan should be formally adopted and implemented and
supports the comprehensive steps the College has taken to address this.......................................... 16
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3. The Oman Academic Accreditation Authority supports the work being done by the College
of Banking and Financial Studies to develop a sound and comprehensive risk management
system. .............................................................................................................................................. 17
4. The Oman Academic Accreditation Authority agrees with the College of Banking and
Financial Studies that in order to fulfill its Vision the College needs to develop its research
capability and supports the steps it has taken towards developing a research centre which
targets, in particular, applied research in its core business areas...................................................... 27
5. The Oman Academic Accreditation Authority agrees with the College of Banking and
Financial Studies that a comprehensive planning process for the delivery of its academic
support services, that includes mechanisms for systematic evaluation, is required and
encourages the College to build on its efforts to date to achieve this............................................... 31
6. The Oman Academic Accreditation Authority supports the College of Banking and Financial
Studies’ introduction of a system to enable online student registration and to support the
collection and analysis of data for institutional research and planning. ........................................... 32
7. The Oman Academic Accreditation Authority agrees with the College of Banking and
Financial Studies that a College Student Council is required and supports the steps that have
been taken to establish this body. ..................................................................................................... 36
8. The Oman Academic Accreditation Authority agrees with the College of Banking and
Financial Studies that student satisfaction surveys need to be conducted on a regular basis
and supports the steps taken by the College to address this. ............................................................ 37
Summary of Recommendations
A Recommendation draws attention to a significant opportunity for improvement that the College of
Banking and Financial Studies has either not yet accurately identified or to which it is not yet adequately
attending.
1. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies takes steps to ensure that the work of its Quality Assurance Unit is
supported by comprehensive, formalized, operational procedures which are aligned to its
expected monitoring role, as embodied in, for example, the Quality Policy of the College. ........... 13
2. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies develop and implement a comprehensive plan for data collection and
ensure that analysis of relevant data informs management decisions and planning in relation
to areas such as student admission, retention, progression and employment as well as staff
recruitment, retention and development. .......................................................................................... 14
3. The Oman Academic Accreditation Authority recommends that, once the Strategic Plan has
been finalized and adopted by College Council, the College of Banking and Financial
Studies develop and implement a system of operational planning which guides the work of
the College and ensures that achievement of strategic objectives is monitored and evaluated
effectively. ........................................................................................................................................ 16
4. The Oman Academic Accreditation Authority recommends the College of Banking and
Financial Studies review and revise its system of policy and document management to
ensure that policies and associated documents are appropriate in terms of content and are
kept up to date. ................................................................................................................................. 17
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5. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies implement a comprehensive policy and associated procedures to guide its
planning and management of health and safety in the College. ....................................................... 18
6. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies adopt a structured approach to ensuring that its graduate attributes are
developed through its programmes and confirmed through assessment and that regular
feedback from employers and alumni on attainment of graduate attributes is used to inform
this process. ...................................................................................................................................... 20
7. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies develop and implement a mechanism to share good practice that assists in
ensuring coherence in the way teaching quality is monitored throughout the institution. ............... 22
8. The Oman Academic Accreditation Authority recommends that the College of Banking and
Finance develop an overarching plan for its industry and community engagement, aligned
with the overall Strategic Plan of the College, with defined key performance indicators and
specific targets, to drive its initiatives and measure progress and growth in related activities
over time........................................................................................................................................... 28
9. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies develop and implement a formal system whereby feedback on academic
programmes is regularly received from industry and employers and used to help evaluate
their satisfaction with the College’s provision of academic programmes. ....................................... 29
10. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies establish means to engage systematically with alumni from all academic
programmes in a way which ensures that relevant data is maintained and which provides for
feedback to be collected on a regular basis. ..................................................................................... 30
11. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies build on existing work to develop a clear plan for the library, which aligns
with its strategic intent and clarifies the position of the library within the College structure. ......... 32
12. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies develop and implement an ICT disaster recovery plan that includes
maintaining duplicate student records at a secure, off-campus site.................................................. 33
13. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies build on the systems of academic advising currently employed at the
College to develop and implement an integrated system of effective academic advising for
all students across all academic programmes. .................................................................................. 34
14. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies strengthen its work to improve its student support services by developing a
clear plan in which objectives are supported by targets, key performance indicators and
identified responsibilities.................................................................................................................. 35
15. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies develop a mechanism to ensure that all relevant College information is
communicated systematically to students on different academic programmes. ............................... 36
16. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies review the effectiveness of its career and employment services, and take
actions to ensure systematic utilization of services that are planned to meet the requirements
of those graduates in need of career counseling and employment support....................................... 38
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17. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies evaluate its provision of counselling services to students in order to ensure
that this is effective and adequately resourced. ................................................................................ 39
18. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies develop mechanisms to improve communication between and among
programs so as to share good practice. ............................................................................................. 41
19. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies conduct regular staff satisfaction surveys to identify any problems or issues
that need to be addressed and to aid in planning. ............................................................................. 42
20. The Oman Academic Accreditation Authority recommends that the College of Banking and
Financial Studies enhance its planning of human resources to specifically target the aim of
increasing the number of Omanis taking up faculty positions.......................................................... 43
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1 GOVER�A�CE A�D MA�AGEME�T
The College of Banking and Finance Studies originated as the Oman Institute of Bankers in 1983
as a result of a Royal Decree (No 64/83). The Institute’s role and Mission was to train Omanis
for the banking and finance industry so as to ensure the full involvement of Omani nationals in
the field of banking. This was addressed through the provision of a diploma in financial studies.
By the mid 1990s, the Institute had largely achieved its Mission - with around 90 percent of
employees in the banking sector being Omani (Portfolio, p.2). As a result, the Institute then
sought to embrace the finance sector as a whole, rather than focusing simply on banking. Royal
Decree (83/98) created the Institute of Banking and Financial Studies to take up this role and to
improve the quality of offerings (ibid).
The Institute required a more diverse range of course offerings in order to meet the needs of the
finance industry, and sought to develop international affiliations to achieve this. This resulted in
the offering of a range of internationally accredited programs. Recognizing the changing nature of
the Institute, Royal Decree 12/2004 changed the name of the Institute to the College of Banking
and Financial Studies. This supported the organization in offering academic programs and
admitting school leavers as well as bank employees.
Throughout its evolution, the College of Banking and Financial Studies has been a division of the
Central Bank of Oman (CBO). Accordingly it is a public institution. The College reports to
CBO; it does not report to the Ministry of Higher Education.
This chapter reports on the Panel’s findings in relation to overall governance and management at
CBFS and specifically covers the following: Mission, Vision and Values; governance;
management; strategic plan; operational planning; financial management; risk management;
policy management; entity and activity review systems; student grievance process; and health and
safety.
1.1 Mission, Vision and Values
The College’s initial Vision and Mission statements were derived from the Royal Decree by
which it was originally established, and were based on Omanisation of the banking and finance
workforce. Following achievement of targets in this area, a subsequent revision of its Mission
recognized the College’s move to service the financial sector as a whole (Portfolio, p.8).
More recently, the College has undergone an exercise to review both its Vision and Mission in
order to: embed a specific focus on quality; re-emphasise its commitment to the banking and
finance community nationally and regionally; and ensure tight linkage between the Vision and
Mission (Portfolio, pp.8-10). During this exercise, considerable consultation among key
stakeholders was undertaken and the advice of an external consultant was sought (Portfolio, p.9).
The industry was involved through the College’s Academic Advisory Panel (CAAP) and the
College Directors. Draft proposals were put before the College’s Quality Assurance Committee
(QAC) which refined the proposals to those presented to the College Council (Portfolio, p.9).
This review has been aligned with the College’s move to offering more internationally accredited
and recognized qualifications at both employment entry level and to middle and senior managers.
The Panel heard how the increasing use of technology in banking and finance is bringing new
educational requirements to the sector. Further, following the Global Financial Crisis of 2008-
2009, the existence of new international banking conventions and rules (as developed by the
Basel Committee – See Appendix B) were brought to the Panel’s attention. These also bring
educational requirements, notably for senior and midlevel banking executives.
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The Panel found the most recent Mission and Vision review process to have been timely,
systematic and thorough. The process included the College developing a set of institutional
Values aligned to the new Mission and Vision. The resulting statements are:
Achieve world-class ‘Centre of Excellence’ status by 2020 through provision of
specialized and innovative education and training, focusing on the Banking and
Financial sector in Oman and the region (CBFS Vision – Portfolio, p.9); and
Our mission is to provide internationally accredited education and training
programmes for professional, executive and leadership development to meet the
evolving needs, especially in the Banking and Financial sector in Oman and the
region. (CBFS Mission – Portfolio, p.9)
The College’s Values are: Ethics; Integrity; Professionalism; Quality Focus; Customer Focus;
and Creativity and Innovation. The Panel noted that the Mission and Vision were clearly
communicated in College documentation and the Panel was pleased to note that staff and students
who were interviewed had a genuine understanding of the intention behind the Mission and
Vision statements. Moreover, through its planning, the College has identified means to evaluate
achievement of its Mission and Vision, and these will be subject to appropriate review (Portfolio,
pp10-11).
Commendation 1
The Oman Academic Accreditation Authority commends the College of
Banking and Financial Studies for the timely, thorough and systematic
review of its Vision and Mission and its adoption of new statements that
have been effectively communicated and are well understood by the College
community.
1.2 Governance
The College is a subsidiary of the Central Bank of Oman and as such is a public institution. Its
structure and delegation of powers have undergone extensive external review. The Panel viewed
reports from three external bodies commissioned by the College between 2006 and 2009. The
different reports focused on: options available for structural changes, internal governance; and
operations within the College (Portfolio, p.13). The Panel noted that these extensive reports have
been systematically considered by the College. Changes implemented as a result of these
considerations include the Dean exercising a much greater level of general and financial authority
than previously was the case. The Panel spoke to all parties involved in governance of the
College and concluded that the College has developed clear divisions of roles and clear reporting
lines through its governance structure: industry partners through the CAAP, the Dean, the
Chairman of the College Council and the CBO. In particular, the Panel noted the active and
productive role of the College Council in the governance of the College. The Panel considers the
arrangements to be straightforward and appropriate. Moreover, these arrangements are subject to
critical internal and external review.
Commendation 2
The Oman Academic Accreditation Authority commends the College of
Banking and Financial Studies for its clear governance arrangements and
the rigorous review that these are subjected to.
The Panel recognized the appointment of the CAAP, which includes representatives of the
banking and finance industry as well as a representative from the Research Council, as a
mechanism to ensure that the College is receiving appropriate advice as to industry needs. The
CAAP is comparatively new and at the time of the audit visit had met just four times.
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Nonetheless, after reviewing the terms of reference of this group and the minutes of the meetings
that have taken place to date, the Panel strongly supports this initiative as a useful way to ensure
long term industry needs are met.
1.3 Management
The Dean is the academic and administrative head of the College. The College’s organisational
structure has also been subject to review, but the Panel considers the present structure (Portfolio,
p.17) needs to be further developed to include all functional units; at present, for example, the
Student Affairs Section and the Library are not shown.
In addition to department heads and directors, the College also has a variety of committees which
are designed “to provide for the decentralization of the decision making process thereby ensuring
transparency in the managerial system” (Portfolio, p.15). The Panel noted that the terms of
reference for a number of these committees were established during the early 2000s (some were
established as early as 2001) but found no evidence that these had been systematically reviewed
or updated. The Panel considers that it is important for this to be addressed in order to ensure the
relevance and effectiveness of this system of committees is maintained. This is addressed in
Recommendation 4.
Minutes of committee meetings and interviews with members indicated that these committees are
active in contributing to the management of the College. In particular, the Panel noted the work
of the Academic Affairs Committee (AcAC); detailed minutes from frequent, regular and well-
attended meetings form an impressive record of consideration of pertinent issues resulting in clear
action points.
The Panel was pleased to note that the College established a Quality Assurance Unit (QAU) in
2009 and has had a Quality Assurance Committee in place since 2006 (Portfolio, pp.7, 15). The
Panel viewed what it considered to be a very ambitious Quality Policy although remained unclear
as to the formal status of this. According to the Policy, the QAU is responsible for governance
and management of the policy and the QAC is responsible for policy making and reviewing. The
Panel found, however, that the QAU faces a number of challenges relating to its wide range of
responsibilities. The Unit consists of two persons but the Panel learned that the Head of the Unit
often had to undertake other activities not central to the QAU. There also seemed to be lack of
strong guidance as to priorities in executing the responsibilities of the Unit and of a support
structure to help ensure compliance with the requisites stipulated by the policy and to ensure that
action is taken in response to the findings of the QAU. For example, if the QAU is to be the
custodian of all surveys undertaken within and on behalf of the College, and take responsibility
for the analysis of the results and monitoring follow-up actions stemming from the survey (as
implied by the policy), it will require substantially more support. It will also require a formal
channel to decision making structures. The Panel considers that the work of the QAU needs to be
supported by the development of a stronger framework of formalised operational procedures.
These need to be in alignment with the demands of the Quality Policy and should help the QAU
in, for example, planning and setting priorities, calling on the support of additional human
resources from within the College (or external to the College) as required, and in systematically
reporting on and following up on its work.
Recommendation 1
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies takes steps to ensure that the work of its
Quality Assurance Unit is supported by comprehensive, formalized,
operational procedures which are aligned to its expected monitoring role, as
embodied in, for example, the Quality Policy of the College.
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The Panel found an overarching need for the College to engage in more systematic data collection
and, importantly, to use subsequent analysis of data to inform decision making and planning. The
College is in the processes of implementing a comprehensive Enterprise Resource Planning
(ERP) system which will facilitate the collection of data (see Affirmation 6). What is now
required is for the College to ensure that a comprehensive plan for data collection is developed
and implemented and that systematic analysis of relevant data is used to inform actions that lead
to improvement. This is required in relation to areas such as student admission, retention,
progression and employment as well as staff recruitment, retention and development. The data
collected needs to include formal feedback from all relevant stakeholders.
Recommendation 2
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies develop and implement a comprehensive
plan for data collection and ensure that analysis of relevant data informs
management decisions and planning in relation to areas such as student
admission, retention, progression and employment as well as staff
recruitment, retention and development.
The College’s implementation of a comprehensive Enterprise Resource Planning (ERP) system
(Portfolio, p.30) will support institutional research. The College may also wish to consider
introducing a dedicated institutional research office to assist with the compilation, dissemination
and analysis of questionnaires as well as the structured capturing and analysis of quantitative data
to better inform decision making by the College Council and management.
1.4 Institutional Affiliations for Programs and Quality Assurance
CBFS’s Vision is to become a recognized “Centre of Excellence” by 2020 and its Mission calls
for internationally accredited education and training programmes. The Panel established that the
College has taken a well-considered and clear strategic-level decision to offer these programmes
through affiliations with appropriate educational partners. It was emphasized to the Panel that the
rationale for this is to ensure the quality of the programmes and their graduates. The College
currently has no intention to offer its own degree programs. The College states:
The College’s current strategy is thus one of quality building through
international affiliations. The ‘Umbrella Concept’ adopted by the College
envisions an Omani institution of international quality achieved through hosting
assorted international benchmark programs with home-country quality norms
being maintained (Portfolio, p.26).
The College has provided entry level internationally recognized qualifications of training through
ACCA, CAT, CSI and HND for some years (see Appendix B). The College also provides entry
and advanced internationally recognized qualifications of education though the University of
Strathclyde (UoS) and the University of Bradford (UoB). The choice of these partners is in line
with the requirements of the Mission to provide “internationally accredited” education. The UoS
MBA, which has been offered by the College since 2001, is triple-accredited by independent
agencies. The Panel appreciates that this is recognized as one of the leading MBA qualifications
in the UK and that it is highly regarded internationally (Portfolio, p.19). The UoB School of
Management too is an independently accredited institution. The College has offered both a
Bachelor programme and a Foundation Certificate programme from UoB since 2006, and in 2010
a second Bachelor programme was launched.
The Panel explored these affiliations and found them to be working well for all major
stakeholders (also see Chapter 2).
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Commendation 3
The Oman Academic Accreditation Authority commends the College of
Banking and Financial Studies for its well-established affiliations with
internationally accredited business schools which directly support its
Mission.
The College also has an affiliation agreement with the Arab Academy of Banking and Financial
Sciences (AABFS - Jordan) through which it has offered a Bachelor of Banking and Finance
programme since 2005 (Portfolio, p.4). However, enrolments for this programme have been
suspended. The Panel learned that this has resulted from a decision by the Ministry of Higher
Education in Jordan to suspend new enrolments pending renewal of the Academy’s license to
operate the programme.
However, aside from this, the College had identified a need to enhance the quality of this
programme. The Panel noted that there is no moderation of assessment by the Arab Academy for
this programme and, in contrast to the College’s other affiliation arrangements, the Panel found
limited mechanisms in place for the Academy to assure and maintain academic standards and
quality. During interviews, the Panel heard that there were concerns that the College did not
receive the same kind of support from the AABFS as from the other affiliate institutions. Yet the
students in the programme that were interviewed by the Panel seemed to be positive about the
learning experience they were receiving.
It was clear to the Panel that the College is now monitoring closely the progress and support of
existing students on this programme. The Panel was pleased to learn that a high level visit from
the College to the Arab Academy had taken place to discuss the programme and that the
agreement between the AABFS and the College is currently under review. The Panel considers it
important that decisions about continuation of the programme are informed by a review of the
quality assurance procedures of the programme and the working relationship between the two
parties.
Affirmation 1
The Oman Academic Accreditation Authority agrees with the College of
Banking and Financial Studies that its affiliation with the Arab Academy of
Banking and Financial Services needs to be reviewed, with regard to both
the continuation of the programme currently offered and also the quality
assurance arrangements for any future offerings, and supports the steps
being taken by the College to do this.
The Panel noted the range of professional studies programs offered by the College through
agreements with internationally recognized overseas educational bodies (e.g. ACCA, CIMA,
EDEXCEL). College records show a good and sustained demand for many of these programmes
(Portfolio, p.5).
1.5 Strategic Plan
The College has been working to develop a strategic plan based upon the Mission, Vision and
Values. External consultants have been contracted to undertake strategic reviews in support of
this, primarily in relation to governance matters (see Section 1.2). The College now has a draft
Strategic Plan which includes a number of pertinent questions under the heading “Strategic
Issues” and “Academic Issues”. No clear statement of the answers to those questions is provided.
The Panel considered this to be a SWOT analysis of issues which in itself is useful. The Strategic
Plan then lists 50 actions to be taken by 2015 under the heading “Fifty Steps on the Road to
2015”. The Panel was of the view that this list was more operational in nature than strategic. In
addition, the College is working on “CBFS as a Centre of Excellence (COE) - An Education Plan
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for CBFS: Towards 2020”. The draft of this plan which was viewed by the Panel includes a
SWOT analysis in relation to the College’s Vision of achieving COE status by 2020 and
identifies “critical success factors” for this to be achieved. It also views the College in relation to
the national “Oman’s Vision 2020” and includes the “Fifty Steps on the Road to 2015”. The
College is still engaged in its process of completing its Strategic Plan prior to formal approval.
The Panel encourages the College to give priority to this activity and ensure that the existing
elements of the plan are well integrated.
Affirmation 2
The Oman Academic Accreditation Authority agrees with the College of
Banking and Financial Studies that a Strategic Plan should be formally
adopted and implemented and supports the comprehensive steps the College
has taken to address this.
1.6 Operational Planning
Currently, operational planning at the College is driven by the preparation of the annual budget.
The College states that administrative and academic departments generate annual business plans
(Portfolio, p.27). The Panel reviewed a sample of these and found them to be variable in length,
quality and detail, and thus potential effectiveness. The College states that it “appreciates the
need to link its operational plans to goals and ultimately the Strategic Plan” and, further, that it is
“in the process of defining Key Performance Indicators and thus linking the Operational Plan
more firmly with its Vision, Mission and Strategic Plan” (Portfolio, p.28). The Panel agrees that
action in these areas is required. The confirmation of the Strategic Plan by the College and its
Council needs to lead to a set of mechanisms that ensure the Strategic Plan is enacted. Further
work is required to implement an effective system of operational planning (as distinct from
business and financial planning) at the College and ensure that an appropriate set of KPIs is
developed through which progress and achievements can be monitored and evaluated. The
College has adopted an inclusive initial approach towards developing KPIs but further work is
now needed to develop clearly defined indicators that align with strategic objectives and which
can be measured in relation to identified targets.
Recommendation 3
The Oman Academic Accreditation Authority recommends that, once the
Strategic Plan has been finalized and adopted by College Council, the
College of Banking and Financial Studies develop and implement a system
of operational planning which guides the work of the College and ensures
that achievement of strategic objectives is monitored and evaluated
effectively.
1.7 Financial Management
The College receives funds from the banking sector and also student fees. Contributions paid by
the banks are fixed annually by the CBO (Portfolio, p.28). The College engages in an annual
budgeting process. The budgets for 2009-2010 and 2010-2011, as well as an annual financial
report, were viewed by the Panel. The Panel was advised that the current funding model is
sustainable both in the short term and the long term, but that it is nevertheless subject to review,
both from a strategic perspective and in relation to, for example, students’ means, and the extent
to which banks benefit from their contributions to the College. The College has an internal
auditor and is subject to annual external audit and state audit visits at regular intervals (Portfolio,
p.28). In addition, the College advises that “Financial transactions are recorded in accordance
with International Accounting Standards and financial reports are provided to the management
to assist in the decision-making process” (ibid). The Panel noted that the College appears to have
a well-functioning financial management system which is to be expected.
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1.8 Risk Management
The College identifies a number of risk areas and also various risk mitigation strategies
(Portfolio, pp.29-30). The Panel also viewed the “Key Risks Matrix for CBFS in Strategy
Building” in the College’s Strategic Plan document and a “Policy on Risk Management”
comprising a paper outlining risk management in the College. However, these documents are not
well aligned and the Panel formed the view that the College has yet to develop and implement a
comprehensive risk management policy. The Panel recognizes the work done towards this and
encourages this to be further developed. The Panel learned that the College has no disaster
recovery plan for its ICT (see Section 6.4) and this needs to be included in this work. The Panel
notes that the College’s clear governance and management hierarchy is well placed to support the
implementation of a fully developed risk management system.
Affirmation 3
The Oman Academic Accreditation Authority supports the work being done
by the College of Banking and Financial Studies to develop a sound and
comprehensive risk management system.
1.9 Policy Management
The College describes how policies are developed through a consultative process and some
policies examined by the Panel provided evidence of having been through a formal approval
process. The College identifies “consideration of a definite period for the policy review process”
as an area for improvement. The Panel agrees with this. The Panel examined a number of
“internal policies” (including, for example, the “Internal Procedures for Admissions, Registration
and Student Affairs”) that were approved in the early 2000s and still refer to the “Institute of
Banking and Financial Studies” rather than the College. The Panel noted that the College
Council constitution and terms of reference are contained in “The Articles of Association for
Oman Institute of Bankers”; this document also needs updating. The Panel found that different
policies vary considerably in content and guidelines for implementation, ranging from a Financial
Policy which includes clear and comprehensive policies and procedures for financial management
to a much less clearly developed policy on Student Advising and Mentoring. There is a need for
the College to review both its management of policies and existing policies themselves.
Recommendation 4
The Oman Academic Accreditation Authority recommends the College of
Banking and Financial Studies review and revise its system of policy and
document management to ensure that policies and associated documents are
appropriate in terms of content and are kept up to date.
1.10 Entity and Activity Review Systems
The College Council’s Executive Information System (EIS) is an internal reporting system that
provides for review of departments, programmes and services (Portfolio, p.33). This system
includes a requirement for quarterly departmental reports to be submitted to the College Council.
The Panel viewed a sample of these and found them to be comprehensive. In particular, the
Panel noted the reports submitted by the Academic Affairs Committee. The minutes from regular
meetings of this committee reflect a high level of engagement and activity. The College noted
that the EIS also includes a budget monitoring system (ibid). The Panel formed the view that the
College has a clear and well-established reporting system through its EIS that allows for review
of its departments and activities.
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1.11 Student Grievance Process
The College advises that it has long standing grievance policies in place, with non-academic
grievances being received by the Student Affairs Section and academic grievances being received
by respective departments (Portfolio, pp.34-35). Whilst the Panel did not explore this area in
depth, it was pleased to be told by students that they knew of the process and how to use it. The
College has identified a number of improvements that could be made in the area of student
grievances. One of these is the need to conduct a formal College-wide survey that provides
feedback on the College’s grievance processes and outcomes, and also measures student
satisfaction in general. This aligns with the College’s broad intention to “get closer to students
and to listen to them” (Portfolio, p.35) and the Panel is strongly supportive of this (see
Affirmation 8).
1.12 Health and Safety
The Panel noted that the College reported very little activity in relation to health and safety in the
College in the Portfolio. Although the Panel learned that a draft Health and Safety Policy had
been developed for the College by an external consultant, this did not appear to have been under
active consideration by the College at the time of the audit. The College stated that the two
hospitals located near to the College are used to deal with medical situations, that students and
staff have health insurance and that the Ministry of Health has conducted some seminars for
students (Portfolio, p.36). The College also reports that it has a fire alarm maintenance
agreement in place and the Panel was informed that a policy relating to fire is being developed
and that occasional fire drills have taken place. However, although the College has identified a
number of actions that it intends to undertake to improve in this area, the Panel considers that it is
important for any action taken to be part of a coordinated and systematic approach to the
management of health and safety in the College. The Panel is of the view that the College needs
to a comprehensive health and safety policy and, further, that this should be addressed as a
priority.
Recommendation 5
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies implement a comprehensive policy and
associated procedures to guide its planning and management of health and
safety in the College.
1.13 Oversight of Associated Entities (e.g. owned companies)
The College has no Associated Entities.
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2 STUDE�T LEAR�I�G BY COURSEWORK PROGRAMMES
CBFS provides a range of academic and professional programmes. The College states that this
has been achieved “through international affiliations or agreements with reputed [sic]
international bodies, all of which have their own quality assurance procedures”. Further, the
College states: “The standards of the home country are adopted in totality by the host country”
(Portfolio, p.18). Whilst recognizing the importance of all its courses to the College, in respect of
its remit, the Panel focused its attention on the College’s provision of degree programmes, and
the foundation programmes which prepare students for these.
In pursuit of its Mission and Vision to maintain international standards and the quality of its
graduates, CBFS has established affiliations with two British universities: the University of
Strathclyde (UoS) which offers its MBA programme; and the University of Bradford (UoB)
which offers two of its undergraduate programmes and also a Foundation Programme. Of
particular importance to the College is the fact that the Business Schools of these universities
(which offer the degree programmes) are of recognised international standing as determined by
their independent accreditations and worldwide reputation (see Commendation 3). Since 2005,
the College has also offered an undergraduate programme through an affiliation agreement with
the Arab Academy of Banking and Finance (AABFS); this programme, however, is not
internationally accredited. At the time of the audit, this affiliation was under review (see
Affirmation 1).
The UoS MBA, which has been offered through the College by the Strathclyde Business School
since 2000, is accredited by a British accrediting body (AMBA – the Association of MBAs).
Further, the School is accredited by independent American (AACSB) and European (EQUIS)
bodies and is held in high regard internationally. . The Panel confirmed these accreditations from
the relevant websites at the time of the audit visit. The Panel learned that an agreement has been
negotiated with UoS to add an MSc in Banking and Finance (to be launched in Sept 2011) to the
MBA already on offer. The Panel strongly supports this development, recognising its alignment
with the College’s Mission and Vision in terms of providing higher level programmes to the
banking and finance sectors.
In 2006, the College introduced a BSc in Accounting and Finance offered by the EQUIS
accredited UoB Business School. At the same time the UoB “Foundation Certificate in
Combined Studies” programme was introduced. This programme is designed to ensure that
graduating students that subsequently enrol for the UoB undergraduate programmes are
adequately prepared (Portfolio, p.24). A second UoB undergraduate programme, the BSc in
Business and Management, started in 2010. The College also runs its own General Foundation
Programme (GFP).
The College had the following enrolments in 2009-2010: UoS MBA-189; UoB BSc -124; Arab
Academy BSc Banking and Finance-26; UoB Foundation-35; General Foundation-545. Together
these students comprised approximately 53% of the total enrolments (Portfolio, p.5). CBO and
other commercial banks support CBFS financially and in return the College offers free places to
employees nominated by the banks for relevant programmes.
This chapter reports on the Panel’s findings in relation to the following: graduate attributes and
student learning objectives; curriculum design; student entry standards; plagiarism; student
placements; assessment methods, standards and moderation; academic security and invigilation;
student retention and progression; and graduate destinations and employability.
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2.1 Graduate Attributes and Student Learning Objectives
An external ‘Quality Scan Report’ commissioned by the College in 2009 identified a need for the
articulation of graduate attributes (Portfolio, p.37). As a result, the QAU of the College organised
a workshop where these attributes could be debated. Various stakeholders were involved,
including academic leadership at the College and members of the CAAP. After further
consultation with academic staff, a draft was submitted to the QAC. Seven attributes were
decided upon and subsequently approved by the College Council (ibid). The Panel found a
general awareness of and support for the desirability and content of the attributes but little
indication that the attributes were explicitly mapped and assessed. The Panel was told that
graduate attributes from the College’s affiliates had been used as benchmarks and that the
College graduate attributes could easily be mapped onto existing programme learning outcomes.
The College nevertheless acknowledges the need for more work in this area (Portfolio, p.38) and
the Panel, whilst acknowledging the complexity of dealing with higher education programmes
offered by different international partners, supports this viewpoint. The employment destinations
and employability of graduates also potentially provide an important measure of attainment of
graduate attributes. Therefore, the College needs to seek regular feedback on these from
employers and alumni. The College has identified a need to survey the employers of its graduates
for this purpose (Portfolio, p.38) and the Panel recommends that the College act on this.
Recommendation 6
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies adopt a structured approach to ensuring
that its graduate attributes are developed through its programmes and
confirmed through assessment and that regular feedback from employers
and alumni on attainment of graduate attributes is used to inform this
process.
2.2 Curriculum
The College took a deliberate decision not to develop its own curricula but to offer programmes
from carefully selected international partners (Portfolio, p.38). The exceptions are the General
Foundation Programme which is based on national standards (Portfolio, p.39) and the degree
programme in Banking and Finance, offered by the Arab Academy of Banking and Financial
Sciences, where changes were effected to make it more relevant to Oman (Portfolio, p.38). The
Panel was pleased, however, to hear from both UoS and UoB representatives that in covering
some aspects of their curricula local tutors would be expected to give locally relevant examples
and that there is scope for some assignments and case studies to reflect the local context. That
this takes place was confirmed by lecturers the Panel spoke to.
The College states that the QAU intends to undertake a survey to examine whether curricula
match with student expectations (Portfolio, p.40), although whether this is in relation to all
programmes was not specified. While student expectations are certainly important in deciding on
programme content, the Panel wishes to caution that it has limitations even if the students are
mature and have relevant work experience. The Panel considers that any such initiative should
form part of a comprehensive system of evaluation rather than be undertaken as an isolated
exercise.
2.3 Student Entry Standards
CBFS states that the College Council, the CAAP and the AcAC continuously monitor and review
the admission criteria for all programmes offered by the College (Portfolio, p.41). The Panel
noted the clearly specified minimum criteria for admission to the various programmes on offer
listed in the College Prospectus. In the case of the UoS, UoB and AABFS, the final decision
regarding acceptance rests with the partner institution.
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The Panel noted that the critical elements of admissions criteria for most programmes are, besides
the appropriate school leaving certificate, acceptable proficiency in Mathematics and English.
These elements are identified in terms of a minimum overall mark obtained in the secondary
school General Education Diploma (mostly 70%) with a minimum mark in Mathematics (70%)
and a minimum IELTS score. A minimum IELTS score of 5.5 is required for entry onto the UoB
Foundation Programme and a score of IELTS 6.0 is required for entry onto the UoB and AABFS
undergraduate programmes. Students who do not meet the entry criteria for academic or
professional programmes may enrol in the GFP at the English Language Centre (ELC). Minutes
from the AcAC demonstrate that an earlier requirement of an overall General Education Diploma
mark of 60% had been reviewed and raised.
The Panel was told that the specific requirement for students to have a minimum of 70% in
Mathematics from secondary school (as opposed to the requirement for simply an overall score of
70% which was previously the case) had been approved by the College Council in response to its
examination of failure rates on some programmes resulting from students experiencing
difficulties in mathematics. This requirement applies to all programmes (including entry to the
General Foundation Programme).
The Panel also noted that the English Language entry requirement for the undergraduate
programmes (of IELTS 6.0) exceeds the minimum standard set by the National Standards for
General Foundation Programmes. The Panel explored this with respect to the impact increased
entry requirements may have on admissions. The Panel was told that the non-profit funding
model supports the College in focusing on quality and that it was expected that the enhanced
entry criteria would help to ensure above average graduates and bring long-term benefits to the
College in terms of reputation and thus admissions.
The College reports that student performance indicates that entry standards are appropriate
(Portfolio, p.42). The Panel agrees that one indicator as to whether minimum admission criteria
are appropriate is to investigate the dropout rate of students (or its counterparts, the retention and
success rates), and supports the College in continuing to monitor this. The Panel examined
student progression and retention figures for a number of programmes/departments at the College
and, although comparable benchmarks were not available, agreed with the view of the College
that the current admissions criteria appear appropriate.
Commendation 4
The Oman Academic Accreditation Authority commends the College of
Banking and Financial Studies for subjecting its admission criteria to
critical review and applying more stringent criteria that are appropriate in
relation to its strategic intent.
2.4 Foundation Programme
The Panel noted that in the 2009/2010 academic year, approximately 30% of the College students
were registered in the ELC (Portfolio, p.5). The College states that it has modified its General
Foundation Programme (GFP) to conform to the Oman Academic Standards (Portfolio, p.38).
Minutes from the AcAC demonstrate that this restructuring and transition has been carefully
considered and monitored by the Committee. The Panel noted that the College has developed a
strong working relationship with the British Council which utilizes the College as a venue for
conducting IELTS tests. The Panel was told that the GFP is designed to take students to an
IELTS level of 5.5 from which they progress to the UoB Foundation Programme. The Panel
spoke to students from both programmes who spoke in positive terms of their overall experience.
The Panel nevertheless formed the view that there was scope for a closer relationship between the
ELC and other academic programmes and departments (see Recommendation 18).
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2.5 Teaching Quality
The primary function of the College is teaching and learning and the College identifies seven
dimensions according to which “the quality of teaching is broadly analysed” (Portfolio, p.42).
These include: the quality of the faculty recruited; staff development; and both student and
affiliate evaluations of teaching.
The Panel heard details of how UoB and UoS apply their standard practices to ensure the quality
of teaching on their programmes at CBFS. The BSc in Banking and Finance offered in affiliation
with AABFS is not, however, subject to such practices by the affiliate. Generally the UoB and
UoS teaching quality monitoring mechanisms appear to be working well although the Panel
formed the opinion that some challenges remained around local tutors using UoB teaching
materials that they themselves had not developed.
Interviews with a range of students from various programmes were conducted. Their response
was generally positive regarding the quality of teaching they receive, although there were isolated
concerns expressed. It was clear to the Panel that there is a great deal of good practice in the
College for monitoring and evaluating teaching quality but that at present not all programmes are
subject to an inclusive and coherent approach that provides for continuous quality improvement.
Aside from the UoS and UoB programmes, the Panel considered the quality systems for
monitoring teaching quality to be patchy. The Panel considers that the College would benefit
from developing a formal mechanism whereby the good practice that exists is effectively shared
and used to help ensure robust systems for monitoring teaching quality on all programmes.
Recommendation 7
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies develop and implement a mechanism to
share good practice that assists in ensuring coherence in the way teaching
quality is monitored throughout the institution.
2.6 Plagiarism
The Panel was pleased to find clear signs that the College is seriously attempting to eradicate
plagiarism, whether committed knowingly or through ignorance. UoS and UoB programme
documentation outlines robust systems for addressing plagiarism and the Panel found these to be
well understood by staff and students. The College has a licence to utilise Turnitin (software
which identifies attempts to plagiarise from the Internet, previously submitted assignments and
other materials) and the College states that students on MBA and UoB programmes are required
to utilise this with respect to coursework (Portfolio, p.44). During interviews, students from
foundation and degree courses demonstrated an appropriate awareness of plagiarism and the need
to avoid it. Further, during the audit visit, the Panel noticed computers in the library being used
students to obtain evidence that they checked their work for plagiarism. The College states that is
it guided by the policies on plagiarism of its affiliate institutions and also by the OAAA policy on
plagiarism. However, the College indicates that it wishes to develop its own policy relating to
plagiarism and academic intellectual property (Portfolio, p.45). The Panel supports this as it will
ensure that the College’s own specific context is fully reflected.
2.7 Student Placements
The College has a significant number of students who already have work experience but it
encourages diploma and degree students who do not have this to undertake internships during the
summer holidays to enhance their employment potential (Portfolio, p.45). The internships are not
a formal requirement of the existing academic programs and students have to find training
opportunities themselves, although they are supported by a letter from the College. The Panel
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found alumni to hold the internship experience in high regard, and the Panel encourages the
College to consider further development of this area.
2.8 Assessment Methods, Standards and Moderation
Assessment processes, responsibilities and moderation depend on the provider of the courses on
offer at the College. They vary from professional programmes, notably those of the Canadian
Securities Institute and the Association of Chartered Certified Accountants who set papers and
assess all scripts themselves, to the Arab Academy where papers are set and scripts assessed by
the College staff and the results then sent to the Academy for moderation purposes (Portfolio,
pp.46-49). In the latter case, a course outline indicating assessment criteria to be used is sent to
the Academy for prior approval. An internal verification process carried out by a CBFS staff
member is utilised in this and in other cases where College staff have more substantial
responsibility.
In contrast to a lack of oversight of the assessment process on the Arab Academy programme
(also see Affirmation 1), the Panel found strong oversight of assessment standards by UoS and
UoB on the programmes they offer at the College. Assessment instruments (e.g. examination
papers) are developed by staff from the partner universities and are identical for all institutions
worldwide where the programmes are on offer. Administration of assessments, and first marking
of some of these, is carried out according to clear procedures by College staff before being sent to
the partner institutions. There, processes of the partner universities are followed to ensure
consistency of marking standards and that the final award certificates issued by the University
(UoS or UoB) reflect the same standard of competence for all graduates, regardless of where they
studied.
2.9 Academic Security and Invigilation
The Panel was impressed by the care being exercised by the College to minimise the dangers of
examination papers being leaked before the examination or subsequent tampering with the
scripts. An Examination Committee manages the system (except in the case of the English
Language Centre which conducts its own examinations but with comparable rigour).
Examination papers received from partner institutions (and those prepared locally) are kept in a
dual lock safe in the Dean’s office. The keys are kept by two separate members of the
Examination Committee and transactions regarding the safe are recorded. Requisite numbers of
papers are issued and serialised answer booklets signed by an Examination Committee member
are utilised (Portfolio, pp.49-50). Minutes from the Examinations Committee provided evidence
of this area of the College’s operations being conducted conscientiously and confidence in the
College’s management of academic security and invigilation was expressed by partner
institutions.
Commendation 5
The Oman Academic Accreditation Authority commends the College of
Banking and Financial Studies for the measures taken to ensure the security
of examinations conducted at the College.
2.10 Student Retention and Progression
The College did not report on student retention and progression in its Portfolio. The Panel was
informed that at the time of preparing the Portfolio, data that existed had not been collated or
analysed. The Panel respects the decision by the College to host and facilitate the provision of
higher education courses by partner institutions (rather than offer its own courses) but
nevertheless considers that this area warrants systematic monitoring and evaluation by the
College itself, in addition to, or together with, evaluation by partner institutions. This will
provide the College with independence in evaluating the success of students enrolled on the
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programmes offered at the College. This information should also inform the College’s actions in
supporting students through their studies. By the time of the audit visit, the College has collated
existing retention and progression data for the higher education programmes and the GFP and
commented on retention. The Panel encourages the College to build on these steps to develop a
formal system whereby such data is systematically analysed and used to inform change (see
Recommendation 2). Implementation of the College’s Enterprise Resource Planning (ERP)
system will facilitate action in this area.
2.11 Graduate Destinations and Employability
The College did not report on graduate destinations and employability in its Portfolio. The Panel
was informed that no data regarding this was available. In its early years, College graduates were
effectively guaranteed employment in the banking industry. However, in 2004-2005, the College
began to enrol school leavers for whom employment is not guaranteed. The Panel considers
formal monitoring and evaluation of this area to be overdue as data on graduate destinations and
employability are critical to formal evaluation of the College’s success in achieving its Mission of
graduates meeting the evolving needs of the banking and financial sectors in Oman and the region
(see Recommendation 2).
The College reports its intention to survey employers of graduates to determine attainment of
graduate attributes (Portfolio, p.38, also see Recommendation 6) and to conduct a graduation
destination survey (Portfolio, p.79). Action in these areas will support a comprehensive system
for evaluating the success of the programmes offered by the College.
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3 STUDE�TS LEAR�I�G BY RESEARCH PROGRAMMES
At the time of the audit, CBFS hosted one programme with a research component: the Master in
Business Administration (MBA) offered by the University of Strathclyde (UoS). This
programme has been offered at CBFS since 2000 and is subject to the quality assurance
procedures of UoS.
The CBFS Prospectus informs students of the UoS MBA’s world ranking and its accreditation by
all three major accreditation bodies for MBAs in the world, i.e. AMBA (Association of MBAs),
AACSB (Association to Advance Collegiate Schools of Business) and EQUIS (European Quality
Improvement System). The Panel was advised that the programme is classified as a “part-time”
programme, and hence that these accreditations apply to the programme delivered in Oman. The
Panel noted that neither the transcripts nor the certificates for the programme state the mode of
study (full-time or part-time), or where the programme was studied. The Panel understood this to
align with UoS policy.
During separate interviews with College staff, MBA students, MBA alumni and employers the
Panel found that the MBA on offer at CBFS was well thought of by many of its stakeholders.
UoS senior representatives also expressed satisfaction with the operation of the programme at
CBFS (also see Commendation 3).
With respect to the UoS MBA, this chapter reports on the Panel’s findings in the following areas:
research programme design; supervisors; postgraduate supervision; student research support;
thesis examination; and retention, graduate destinations and employability.
3.1 Research Programme Design
The UoS MBA is a postgraduate/post-experience degree rather than an “academic” research
based postgraduate degree. Student learning through research takes place predominantly in the
compulsory Project component which counts for 40 out of a total of 180 credits for the
programme, hence approximately 22% of the degree. The Panel was pleased to note that students
are encouraged to conduct locally-based or locally-relevant research (Portfolio, p.54) and titles of
projects supervised locally show a range of Oman-based research having been undertaken by
College MBA students. The College states that it wishes to encourage the publication of papers
resulting from such research (ibid), and the Panel supports this.
The College reports that the UoS Business School “delivers an identical MBA programme in
Oman to the one offered on their campus in the UK” (Portfolio, p.18). The programme in Oman
is, however, delivered on a part-time basis, whereby UoS academic staff visit CBFS periodically
to deliver intensive evening or weekend seminars. These seminars are supported by tutorials
delivered by UoS-approved “Local Counsellors”, some being alumni of the programme.
3.2 Supervisors
Project supervision is carried out by UoS-approved supervisors. These are listed on the intranet
used to support the programme. The UoS-MBA offshore brochure advises students to select a
supervisor from institutions in nine countries where the MBA is offered by UoS. The Director of
Postgraduate Studies at CBFS is the only locally approved project supervisor. The Panel learned
that stringent approval criteria are applied in the selection of supervisors, and a period of co-
supervision supports new project supervisors.
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3.3 Postgraduate Supervision and Student Research Support
A UoS staff member leads a Project Methodology Seminar prior to students embarking on their
research and the students appear to receive regular support from their supervisors, although there
have been occasions where the College had to intervene on behalf of students who encountered
delays in receiving responses from overseas supervisors (Portfolio, p.54). The College also
provides support in the form of ‘research sessions’, notably in data analysis (ibid).
3.4 Thesis Examination
Projects are marked according to UoS guidelines and procedures (Portfolio, p.55). The College
states that projects are undertaken either individually, or as a group (Portfolio, p.52) and reports,
for example, that in 2009-2010, three groups of students obtained distinctions. The Panel was
surprised, however, to learn that when the project is undertaken by a group (of up to 4 students)
there is no mechanism in place to determine the contribution of each student. Whilst it is
acknowledged that the College’s role is to facilitate the delivery of the MBA programme by UoS,
the Panel nevertheless considers that this is an area that warrants attention and encourages the
College to engage in discussion with UoS to explore potential risks associated with group project
work and to identify possible mechanisms for ensuring that individual contributions are
appropriately recognized and reflected in final marks.
3.5 Retention, Graduate Destinations and Employability
The College did not report on this section in its Portfolio, taking the view that as the programme
is aimed at working professionals, it was not applicable. The Panel learned that UoS does not
track graduates of the programme either. Minutes of annual review meetings of the programme
do, however, indicate that some attention is given to retention of students on the programme. The
College demonstrated that it has retention and progression data for the programme although prior
to the audit this had not been formally analysed.
Whilst the MBA programme is offered by UoS, CBFS takes the lead on marketing the
programme in Oman, and it also has a role in supporting delivery of the programme and in
supporting the students on it. Moreover, the College hosts the programme as a means of
supporting it in achieving its Mission. The Panel therefore considers it important for the College
to formally collect and analyse data to determine its effectiveness in these areas and inform future
action. College data indicates that of the 436 students who have been admitted to the programme
since it started in 2001-2002, 82 (approximately 19%) have dropped out and 155 (approximately
36%) have completed it. The remaining students are still enrolled. This data warrants evaluation
in relation to appropriate benchmarks and this evaluation needs to be used to inform any potential
action to enhance retention and completion rates.
In terms of the College’s success in fulfilling its Mission, evaluation of the impact that
completing the UoS MBA has had on graduates in the workplace (for example, in terms of
performance and career success) is required. This information could also be used to inform
marketing initiatives. The Panel was pleased to note that the College reports that after an
inaugural meeting of MBA alumni in January 2010, regular meetings of these graduates have
been held (Portfolio, p.65). The College may wish to systematically collect and analyse MBA
alumni and employer survey data to inform this evaluation.
In addressing Recommendation 2 in this Report, the College needs to ensure postgraduate
retention and completion rates as well as subsequent employment performance are evaluated
effectively.
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4 STAFF RESEARCH A�D CO�SULTA�CY
The pursuits of research and consultancy by CBFS to date have been limited in scope and have
yet to be developed. The College states that it has “a long-term goal of evolving into an
advanced research institution for research concerning financial and economic issues from a
multi-disciplinary perspective” (Portfolio. p.56). This chapter reports on the Panel’s findings in
relation to this goal.
4.1 Research Planning and Management
The College states that it has emphasized the need to establish a Research Centre in Banking,
Economics, Finance and Management through a submission to the College Council in 2006
(Portfolio, p.56). The Panel examined this submission and also the College’s Post Graduate
Studies and Research Centre 2010-2015 Business Plan. The Business Plan addresses the
development of two centres within the Post Graduate Studies and Research Centre: a centre for
postgraduate studies for middle to senior managers and a centre to spearhead research activities
and research which targets needs in Oman. The College states further that it intends to “provide
direction to applied research in the economic and financial sectors in the Sultanate with expertise
in the areas of Economics, Banking, Finance, Insurance, Accountancy, Management as well as
Education and Language” (ibid). These plans and stated intentions align with the College’s
Vision to become a ‘Centre of Excellence’.
The Panel noted that the majority of external staff research conducted at CBFS from 2002-2010
related to the teaching and learning of English Language (Portfolio, pp.57-59). However, during
the audit visit, and in the course of further investigation, the Panel found that the College’s
research intentions address a genuine demand within the banking and finance sectors. Feedback
elicited by the Panel from CBO, employers, staff and alumni implied strong interest and support
from relevant stakeholders. CAAP meeting minutes confirm that the setting up of the Centre is
also an ongoing topic of discussion by the CAAP.
The College has developed a Business Plan for its Post Graduate and Research Centre and this
provides an analytical basis for the realization of the Centre. Based on this, the College now
needs to develop a clear implementation plan which includes strategies and KPIs in support of
objectives and goals and which aligns with the Strategic Plan. Thorough planning is required to
ensure sustainability of the Centre. The College needs to ensure that the plan covers all relevant
aspects, such as: research performance; research funding; research ethics; consultancy;
intellectual property; professional development for research; research commercialization; and,
with respect to its role as an academic institution, how research is to inform teaching in the
College. Furthermore, the College needs to improve its research capacity with respect to the
number of staff with PhD’s; at the time of the visit, apart from the Dean and three directors, the
College had six lecturers and one senior lecturer with a PhD out of 107 academic staff.
Affirmation 4
The Oman Academic Accreditation Authority agrees with the College of
Banking and Financial Studies that in order to fulfill its Vision the College
needs to develop its research capability and supports the steps it has taken
towards developing a research centre which targets, in particular, applied
research in its core business areas.
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5 I�DUSTRY A�D COMMU�ITY E�GAGEME�T
The College is a division of the Central Bank of Oman (CBO) through which its engagement with
the banking and finance sectors is directed and facilitated. Its role in Omanization of the banking
sector is discussed in Chapter 1. The College states that it also maintains strong links with
schools, community groups and other stakeholders (Portfolio, p.60).
This chapter reports on the Panel’s findings in relation to CBFS’s planning and management of
its engagement with industry and the community and comments specifically on the College’s
relationship with the following: industry and employers; professions; other education providers;
alumni; and the community at large.
5.1 Industry and Community Engagement Planning & Management
The College has a direct and strong link with banks in Oman through their contribution to the
College budget as directed by CBO (also see Section 1.7). Engagement with its stakeholders is
supported by, for example: the role and membership of the College’s Council; the establishment
of the College Academic Advisory Panel (CAAP); and various activities pursued by CBFS such
as its role in the recent establishment of the ‘HR Fourm’ comprising HR and Training Heads of
major banks in Oman and the Middle East.
CBFS engages with the community through the offering of extensive training courses for
professionals and it has established productive relationships with various professional bodies and
other educational providers. The College recognizes the importance of maintaining a link with its
alumni and has formed an Alumni Executive Committee for this purpose, although the work of
this committee is still in its infancy (Portfolio, p.65). The College also supports and takes part in
community and charity events.
In order for the College to both drive and monitor its overall effectiveness in engaging with
industry and the community however, its activities need to be guided by an overarching plan for
this area which aligns with the College Strategic Plan but covers this particular area more
comprehensively This plan needs to include targets and key performance indicators in relation to
specific goals and objectives.
Recommendation 8
The Oman Academic Accreditation Authority recommends that the College
of Banking and Finance develop an overarching plan for its industry and
community engagement, aligned with the overall Strategic Plan of the
College, with defined key performance indicators and specific targets, to
drive its initiatives and measure progress and growth in related activities
over time.
5.2 Relationship with Industry and Employers
The Panel noted that the College maintains strong contact with the industry and employers
through its Council and the recently formed CAAP. The Panel considers the establishment of the
CAAP, which provides a discussion forum for members of the banking and related industries and
College staff, a strong step in engaging industry in a structured way (also see Section 1.2). This engagement is valued by the College as a means of keeping pace with industry and professional
needs (Portfolio, p.61).
The College’s Vision statement include a commitment to provide specialized and innovative
education and training programmes to meet the needs of the banking and financial sectors in
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Oman (Portfolio, p.9). Professional training courses fall under the responsibility of the Training
Department in the College. These courses, which have increased over the years, are delivered by
CBFS’s faculty and external consultants. The Panel sensed considerable strength in the College’s
provision of training courses, but did not explore this area of activity as it falls outside the formal
remit of the Panel (also see Section 2).
The Panel appreciates the efforts made by faculty members who described maintaining links with
industry through inviting employers to deliver class presentations and through field visits and
industry-related students’ projects. While these activities are commendable, they appear
fragmented and the Panel considers that better overall planning and coordination is required (see
Recommendation 8).
The Panel learned that the banks are offered places on academic and professional programmes in
return for the funding (as set by CBO) the College receives from them. The Panel was told that
not all these places were taken up. The Panel was advised that a study previously undertaken by
CBO had concluded that the banks were getting value for money under this arrangement.
However, the Panel found no formal mechanism to evaluate this on a regular basis, or to evaluate
general satisfaction with the academic programmes offered. The CAAP’s terms of reference
show that this group is well placed to support the development and implementation of a system to
address this.
Recommendation 9
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies develop and implement a formal system
whereby feedback on academic programmes is regularly received from
industry and employers and used to help evaluate their satisfaction with the
College’s provision of academic programmes.
5.3 Relationship with Professions
The College maintains links with various professional bodies through sponsorship of the regional
chapters of the Information Systems Audit and Control Association (ISACA), the Institute of
Chartered Accountants of India (ICAI), the Institute of Internal Auditors (IIA), and the recently
formed Human Resource (HR) Forum (Portfolio, p. 63). These activities need to be integrated
into College plans and subject to evaluation (see Recommendation 8). This will help the College
in promoting activities that effectively support its Vision and Mission. The Panel encourages the
College to maximize the potential for students and staff to engage with relevant professional
bodies and their activities.
5.4 Relationship with Other Education Providers
The College maintains links with four banking institutes in the Gulf Region. CBFS also has a
partnership with the British Council to provide on campus IELTS services for students. The
Panel found this relationship to be working well for both parties. The College provides Library
internships for students from Sultan Qaboos University (Portfolio, p.64). The Panel encourages
the College to evaluate this area in relation to its overall planning, with a view to broadening its
range of relationships with other higher educational providers and identifying activities within
these, such as benchmarking, with the potential to enhance quality.
5.5 Relationship with Alumni
CBFS states its belief in maintaining contact with its alumni and seeking their views on relevant
issues (Portfolio, p.64) but the Panel found that the College has yet to establish a formal system
for achieving this.
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The College has a database for graduates of the MBA Programme and reports that an inaugural
meeting for these alumni was held in January 2010 (Portfolio, pp.64,65). A Strathclyde Oman
Alumni Board has been set up comprising UoS MBA holders. Documentation indicates that this
Board is to lead an association open to all UoS alumni in Oman. The College, as the Oman UoS
MBA Centre, is set to provide some financial and administrative support, and to host events. The
Panel found this initiative to be welcomed by MBA graduates interviewed during the audit visit.
It is clear that the establishment of this association provides the potential for the College to
engage systematically with its UoS alumni, although plans for this have not been developed. The
Panel found no evidence, however, of action being taken in relation to establishing formal
relationships with graduates of other academic programmes offered at the College, i.e.
programmes offered in partnership with the UoB and the Arab Academy.
This Panel is of the view that, in addition to any relationships its graduates may enter into with
the institutions from which their programmes originated, the fact that they are also graduates of
CBFS needs to be recognized formally. The College needs to establish effective relationships
with all its alumni in order for the potential contribution of these alumni to the College, and vice
versa, to be realized. Moreover, this will allow the collection of data from, and about, this
important group of stakeholders which will support the College in the evaluation of its own goals
and in this way inform decision making.
Recommendation 10
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies establish means to engage systematically
with alumni from all academic programmes in a way which ensures that
relevant data is maintained and which provides for feedback to be collected
on a regular basis.
5.6 Relationship with the Community at Large
The College offers a range of training programmes, with its Graduate Development Programme
being offered in the interior regions of Oman as well as at the College. Examples of community
engagement in the College include providing scholarships for underprivileged students, hosting
and participating in community and charitable events and participating in local sports and cultural
events (Portfolio, pp.65-66). In order for the College to know how effectively its activities in this
area contribute to its institutional goals, these need to be planned and subject to evaluation. This
is addressed in Recommendation 8.
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6 ACADEMIC SUPPORT SERVICES
The evolution of CBFS from an “institute” to a “college” was accompanied by a change in the
nature of the student population (Portfolio, p.3). The admissions base has gradually changed
from comprising primarily working adults to including young graduates of secondary schools, a
group requiring considerably more academic support. This shift in student populations has
necessarily changed the scope of many basic academic support services. Students on academic
programmes offered at the College receive different types and levels of academic support from
the institutions from which their programmes originate but, in addition to this, some academic
support services are provided to all students studying at CBFS by the College itself.
This chapter reports on the Panel’s findings on the overall planning and management of academic
support services at CBFS and on the following specific areas: the registry; the library;
information and learning technology services; academic advising; student learning support; and
teaching resources.
6.1 Academic Support Services Planning & Management
One "basic principle" of academic support adopted by the College is "a committee approach to
all issues so as to maximize involvement, brainstorming and collective decision making in
student-related matters" (Portfolio, p.67). The College states that is has a system in place to
render academic support with the Academic Affairs Committee (AcAC) overseeing the various
academic services provided (ibid).
Reviewing the past year's minutes of the AcAC, the Panel found, however, that although that
committee considered many matters related to students including absenteeism, enforcement of the
dress code, re-sitting of exams, fee waiver requests, and other such matters, it did not provide
planning or guidance for the development of key academic support services. There was no
evidence of "collective decision-making" related to the management of these offices and services.
The Panel did find evidence of planning for some areas of academic support services in a 2008
document, "Students and Student Services Unit: Business Plan 2009-2013," although little, if
anything, of that plan seems to have been implemented. The College is aware that proper
planning and also systematic evaluation of its academic support services is required to “align its
services with it new Vision, Mission and Strategic Plan” (Portfolio, p.68), and the Panel urges the
College to ensure that this matter is addressed effectively. The College needs to ensure that any
feedback received from its academic partners on the academic support services it provides is
considered systematically together with direct feedback from students and College staff and that
this information is used to inform change.
Affirmation 5
The Oman Academic Accreditation Authority agrees with the College of
Banking and Financial Studies that a comprehensive planning process for
the delivery of its academic support services, that includes mechanisms for
systematic evaluation, is required and encourages the College to build on its
efforts to date to achieve this.
6.2 Registry (Enrolment and Student Records)
CBFS is in the process of implementing a student records (and other records) system, the
Enterprise Resource Planning (ERP) system. This will address a need for student progression and
retention data to be maintained and analysed effectively. Panel requests for enrollment and
progression data were met, but the data had to be compiled by hand. Monitoring enrollments and
progression of students in various programs is essential to institutional research and planning, and
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the Panel supports the ongoing development of a system to enable the essential collection and
analysis of data (also see Recommendation 2).
Affirmation 6
The Oman Academic Accreditation Authority supports the College of
Banking and Financial Studies’ introduction of a system to enable online
student registration and to support the collection and analysis of data for
institutional research and planning.
The College states that, since 2010, all students on both academic programmes and professional
courses, except those enrolled in the MBA programme, are registered through its Registry. MBA
students register through the Postgraduate Department (Portfolio, p.68). Although records are
now entered into the ERP system and securely maintained in the CBFS building, the Panel
learned that no duplicate records are maintained at an off-campus site. The Panel considers it
important for the College to address this (see Recommendation 12) and to include any records of
UoS MBA students or alumni that are maintained by the College.
6.3 Library
The College has had a Library Committee in place since 2001 (Portfolio, p.69). This was
reconstituted in 2008 with clear, updated terms of reference. Although the Panel was informed
that there is no current business plan for the library, the College states that eventually it plans to
convert the library into a "Resource Educational Information Centre" (ibid). Other College
documentation refers to a “Library Information Centre” and a “Research Information Center”, but
the Panel was unable to determine the exact nature of this planned development, or, for example,
how this related to the College’s current Vision and Mission. Beyond stated intentions to add
more e-books and electronic resources and to make the library more accessible as a library for
Muscat citizens, the Panel found current planning for the library to lack clarity and consistency.
The position of the library in the organizational structure is also unclear, although the Panel
learned through the minutes of the AcAC of an agreement to have it report to a planned position
for Research (a position that does not yet exist). The College has a comprehensive manual of
library rules, regulations and procedures, but this was approved in 2003 and needs to be reviewed
and updated (also see Recommendation 4).
Recommendation 11
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies build on existing work to develop a clear
plan for the library, which aligns with its strategic intent and clarifies the
position of the library within the College structure.
The Panel was pleased to learn that students in both the UoS MBA programme and the UoB
programmes have complete access to those institutions’ libraries through the internet.
A user's survey conducted in June 2010 by the QAU provides evidence of general satisfaction
with the librarians and the library services although the survey found the number of computers to
be limited and the space available insufficient at times. The number of regular users, however, is
small, at less than 10% of the student body. Moreover, the library appears to be used primarily
by students studying at Foundation level rather than by undergraduate and postgraduate students.
The Panel was encouraged by the collection of this feedback, but remained unclear as to how the
recommendations made by the QAU as a result of this were to be followed up to make
improvements to the services offered and increase the satisfaction of users. The College’s
evaluation of its library and the development of this facility need to be informed by regular
collection and analysis of relevant data and the Panel urges the College to develop systems to
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ensure this, and to communicate actions taken as a result of feedback to relevant stakeholders.
This is also addressed in Affirmation 5.
The Panel learned that the librarians and the Library Committee have increased their efforts to
involve the faculty in building the book and journal collection. Faculty members receive lists of
titles relevant to their teaching fields and interests with follow up prompts from the librarians to
determine whether they want the books added to the collection. The Panel was impressed by the
College’s systematic work with the faculty to build a better book and journal collection and
encourages this practice to be built into its formal procedures.
6.4 Information and Learning Technology Services
CBFS is in the middle of implementing a new, comprehensive records system (ERP) that will
serve as a linked system for data collection throughout the institution, containing the student
records, personnel records, library data, financial data, and so on. The "IT Department
Operational Plan: 2009/2010-2011/2012" includes the planned enhancement to all IT solutions
and systems on the campus and provides timelines and budget details. At the time of the Panel's
visit, implementation of the plan appeared to be broadly according to schedule.
In its discussions with faculty members and students, the Panel found that such improvements
will be welcome. Students commented on both the insufficient number of computers on campus,
particularly in the library, and on the instability of the Blackboard facility, used (though not
essential) by the University of Bradford Foundation students. Blackboard is not generally used as
a course management system by the faculty, although the Panel considers that it could be an
important tool for all programmes if it were stable and faculty members were trained in its use.
The Panel urges the College to act on its stated intent to conduct user satisfaction surveys of its IT
provision (Portfolio, p.72).
The College has no disaster recovery plan for its ICT, a matter that needs to be addressed. Some
limited forms of “mirroring” data are undertaken on a daily basis but with the implementation of
the new ERP system, the opportunity exists to develop an ICT recovery plan which would
include storing backed up data, such as student records, at a separate location.
Recommendation 12
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies develop and implement an ICT disaster
recovery plan that includes maintaining duplicate student records at a
secure, off-campus site.
6.5 Academic Advising
As in many other areas, the Panel found that the support students received very much depended
on the programme in which they were enrolled. Although the Portfolio refers to an "Academic
Advising system” (Portfolio, p.73), the Panel learned of several different systems, but also of no
system at all. There are some students who receive one-on-one personal and academic advising
on a regular, scheduled basis, but others that do not. The College acknowledges that it has yet to
develop an effective College-wide system despite previous work in this area (ibid).
The Panel learned that the "Academic Advisor system" referred to in the Portfolio as being run on
a "trial basis" (Portfolio, p.73) is actually one for UoB students only. Separately, the GFP has
also implemented a system of academic advising that includes regular meetings and tutorials.
CBFS says that it "intends to obtain Student feedback on Academic Advising from the academic
year 2010-11”. The Panel urges it to do this as part of a comprehensive evaluation that informs
development of a system of academic advising for all students on academic programmes. This
system should accommodate programme-specific requirements from partner institutions and build
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on any identified good practice that currently exists. The College identifies the need for
appropriate training of faculty members who are to be advisors. This training will be an
important requirement of the system together with regular evaluation of its effectiveness. The
College now needs to act on its stated intentions.
Recommendation 13
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies build on the systems of academic advising
currently employed at the College to develop and implement an integrated
system of effective academic advising for all students across all academic
programmes.
6.6 Student Learning Support
As recognized by CBFS, support for student learning is ad hoc, and dependent on the willingness
of faculty members and their having the time to provide it (Portfolio, pp.73,74). Workshops,
guest lecturers and seminars do take place to enhance learning, but no programme or office exists
to assist students struggling with, for example, Mathematics or English. While the entrance
requirements go a long way to ensuring student competence in these areas (see Commendation 4),
and students on UoS and UoB programmes are provided with online assistance (Portfolio, p.73),
there is a requirement for the College to undertake an evaluation of learning support
requirements and develop a system of support in response to the evaluation’s results. The
College is "contemplating conducting more qualitative seminars on campus at a department
level," but the Panel found no evidence that this possibility is linked to a needs analysis that
should precede it. The Panel encourages the College to build on existing practices to plan a
system of support that addresses the actual requirements of students in different programmes as
identified through a comprehensive needs analysis (see Affirmation 5).
6.7 Teaching Resources
The Panel noted that the classrooms were well maintained and generally well equipped. Faculty
members interviewed by the Panel expressed satisfaction with their teaching environment,
although some urged that some classrooms be more fully equipped with, for example, smart
boards and other technological resources. Future development of teaching resources needs to be
based on systematic evaluation of provision and requirements (see Affirmation 5).
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7 STUDE�TS A�D STUDE�T SUPPORT SERVICES
The College reiterates the point that “the demographic profile of students has gradually changed
from employees of banks to higher secondary school graduates and employees from other
sectors” (Portfolio, p.77). As with the provision of academic support services (see Chapter 6) the demand for general support is therefore likely to have both changed in nature and to have
increased.
This chapter reports on the general planning and management of student support services at
CBFS and specifically comments on the following: career and employment services student
finances; accommodation catering and transport; medical and counselling facilities; international
student services; and social and recreational services and facilities. This chapter also comments
on the Panel’s findings in relation to the profile of students at the College, student behaviour and
student satisfaction and climate.
7.1 Students and Student Support Services Planning & Management
CBFS names the Student Affairs Section, the Registration Section, and the Finance &
Administration Department as involved in extending student support services at the College
(Portfolio, p.76). The Panel noted that the Student Affairs Section is not identified on the
organisational structure presented by the College (Portfolio, p.17). The Panel was informed that
the 2001 appointed Working Group on Student Affairs was no longer working in its original
format and that with the appointment of a Student Counsellor and the constitution of the
Discipline Committee, the specific tasks assigned to the committee had been bifurcated. In 2009
the College developed an Admissions, Marketing & Students Affairs Business Plan which
includes elements of strategic and operational planning for 2010-2011 where different aspects of
Student Support Services are the responsibility of these three departments. Other areas of Student
Support Services are addressed in the Student Advising & Mentoring Policy. The Panel
appreciates these efforts, but found the planning to be underdeveloped; the Panel was not able to
identify an explicit conceptual framework or a clear delegation of responsibilities for this area.
Further work is needed to ensure alignment of planning for student support services with the
College’s overall strategic direction and objectives need to be supported by targets, key
performance indicators and clear delegation of responsibilities. This will allow the College to
systematically monitor and evaluate its performance and identify opportunities for improvement.
Recommendation 14
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies strengthen its work to improve its student
support services by developing a clear plan in which objectives are
supported by targets, key performance indicators and identified
responsibilities.
Information on College procedures, rules and regulations is given during student orientation and
general instructions are displayed on notice boards (Portfolio, p.78). Some of this information is
included, for example, in the UoB Student Handbook for undergraduate students. The Panel,
however, found no evidence of a mechanism by which the College can ensure that all students,
irrespective of the programme on which they are enrolled, have access to consistent information
about such matters as College policies, services, and health and safety information.
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Recommendation 15
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies develop a mechanism to ensure that all
relevant College information is communicated systematically to students on
different academic programmes.
The College may wish to consider developing a College Student Handbook, which may
supplement programme specific handbooks, for this purpose.
The Panel recognizes CBFS’s aim to get closer to its students (Portfolio, p.35) and that it
considers students’ overall experience and satisfaction to be very important factors (Portfolio,
p.77). Presently, however, there are limited systems to ensure a transparent and effective
exchange about student support services between the management and students. The UoS MBA
programme and the UoB programmes have elected student representatives. However, the
College’s intention to establish a centralized Student Council which will “represent the student
community across all academic departments of the College” (Portfolio, p.76) has yet to be
realized, although quite extensive documentation has been developed in support of this. The
College needs to ensure that this body is established.
Affirmation 7
The Oman Academic Accreditation Authority agrees with the College of
Banking and Financial Studies that a College Student Council is required
and supports the steps that have been taken to establish this body.
The establishment of a Student Council will support the College in meeting an overarching need
to establish stakeholder feedback systems. The College needs to develop and implement diverse
forms of student and other stakeholder feedback processes to ensure student and stakeholder
involvement in the planning, managing and evaluation of services for students (see Affirmation 8
and Recommendation 9).
7.2 Student Profile
CBFS had a total of 1723 students in 2009-2010 of which the majority, approximately 60%, was
female (Portfolio, p.5). Over 50% of these were studying at foundation level or on higher
education programmes, with the remaining studying on professional courses. Orientation
documentation indicates that approximately 40% of the student population comprises working
professionals who mostly study in the evenings. The student profile has changed over time in
relation to the College’s status and its strategic aims; as an “institute” it initially catered for the
banking sector (towards achievement of high levels of Omanisation) but has since broadened its
student base to include employees from other finance related sectors and, since 2004-2005, has
enrolled higher secondary school graduates (ibid). CBFS anticipates that implementation of the
ERP system will facilitate systematic research, analysis and evaluation of student profile data.
The Panel would like to underline the importance of this process both for informing College plans
and for contributing to evaluating overall institutional performance (see Recommendation 2).
7.3 Student Satisfaction and Climate
The College conducted a survey on overall student satisfaction in 2008-2009, but acknowledges
that this was not followed up effectively (Portfolio, p.78). The College has identified the need to
conduct regular surveys and the Panel supports this. The Panel learned that, with the support of
an external consultant, the College had developed new student survey instruments and that these
were being finalized. It is important for the College to now implement these on a regular basis.
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Affirmation 8
The Oman Academic Accreditation Authority agrees with the College of
Banking and Financial Studies that student satisfaction surveys need to be
conducted on a regular basis and supports the steps taken by the College to
address this.
The College will also need to demonstrate visibly that the results are taken seriously. Otherwise
“questionnaire fatigue” can rapidly render such surveys meaningless. Results need to inform
actions taken to make improvements (see Recommendation 2), and these actions need to be
clearly communicated back to survey participants.
Although a system of student representation is in place for each class, a centralized mechanism
for hearing students has yet to be established (see Affirmation 7). In interviews with elected UoS
and UoB student representatives, the Panel noticed that students of these programmes identify
themselves foremost as students of the international programmes. The Panel considers that the
College needs to encourage and increase student participation in College processes to strengthen
their commitment towards CBFS and make them essential participants in forming the College’s
future. The College needs to explore different formal mechanisms to ensure that the student
voice and input is heard and considered. The establishment of the College Student Council is one
such mechanism that has the potential to serve the College well.
7.4 Student Behaviour
CBFS points out that it has a firm but compassionate approach to student discipline and that
disciplinary matters are dealt with systematically. Misbehaviour of students is reported to
department Directors who may resolve the matter or refer it further to the College’s Student
Counsellor or the Disciplinary Committee (Portfolio, pp.78,79), A Discipline Committee was
constituted in 2008 and reformed in 2009. Parts of the College’s Code of Conduct Policy,
however, date from 2003 and need to be updated (see Recommendation 4). Minutes of the
Student Disciplinary Committee indicate a series of penalties that can be imposed for disciplinary
offences. These also need to be detailed in College documentation covering disciplinary
procedures. As with other College systems and regulations, the disciplinary policy and
procedures need to be clearly communicated to all stakeholders (see Recommendation 15).
7.5 Career and Employment Services
CBFS indicates that facilitating the employment of its graduates remains an important objective
for the College (Portfolio, p.79). The College describes a range of activities designed to assist
students who are not already employed, and reports examples of success in this area (ibid), but
these activities have been conducted on a relatively ad hoc basis. Historically, the College has
recorded high employment due it its direct role in Omanisation of the banking sector, but with
greater diversity in both its student profile and its programme offerings, a more structured
approach to this area is required. In order to measure, monitor and improve the employability of
its graduates, systematic data collection on graduate destinations, employment rates and career
progression is required (see Recommendation 2). This data can inform the planning of actions
and initiatives to support students in career planning and securing employment. The College
indicates its intention to collect data on skills requirements of employers as well as conducting
relevant workshops and seminars (ibid). It also plans to establish a Placement Centre, which,
amongst other things, is to facilitate campus recruitment (Portfolio, p.46). The Panel wishes to
encourage these initiatives, but they need to be planned effectively – for example, a clear
framework needs to be established; objectives, and a means of measuring achievement of these,
need to be developed; timelines need to be established; and resources need to be allocated.
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Recommendation 16
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies review the effectiveness of its career and
employment services, and take actions to ensure systematic utilization of
services that are planned to meet the requirements of those graduates in
need of career counseling and employment support.
The College may also wish to consider developing a Career Advisory Policy to guide its work in
this area. The Panel considers the recently established ERP system as ideally suited for
systematically tracking students from application, to registration for studies, to
graduation/programme completion and subsequent employment.
7.6 Student Finances
The College wishes to “provide financial support to eligible students and offer quality education
to the community at an affordable cost” and explains that the AcAC reviews the fees applicable
for each academic year (Portfolio, p.80). Reports to the College Council show that the majority
of students at CBFS are self-financed. Deserving students are selected for financial support based
on annual recommendations submitted by the Scholarship Committee which was established in
2008 and re-constituted in 2009 (ibid).
The College shows considerable understanding for the students’ financial concerns and has taken
actions in offering deferred payment schemes, subsidising food rates at the canteen (although the
College acknowledges that the latter was withdrawn due to implementation difficulties), and
discussing the possibility of increasing the number of scholarships from 10 to 20 per year. The
College is considering an endowment fund to support needy students (Portfolio, p.80).
Furthermore, the College has decided to reduce the fees for students whose siblings work at the
College and a reduction for deserving staff pursuing the MBA programme. The Panel would like
to encourage the College to continue its efforts to reduce financial costs for students where
possible and consider subsidizing staff and their family members should they consider taking up
studies at CBFS.
7.7 Accommodation, Catering and Transport
The College states that it does not provide on-campus accommodation, catering and
transportation (Portfolio, p.81). The College does, however, have a cafeteria. The Panel was
pleased to learn that in 2007 the College considered student survey results in its selection of a
provider for its cafeteria service, and further, that a survey on the provision was conducted in
2009. In interviews with the Panel, students pointed out that the cafeteria was overcrowded
during the lunch break, an issue that is noted in the survey report. The Panel encourages the
College to continue to involve students in its management of services such as this and emphasizes
the importance of this being embedded in College systems (see Affirmation 7 and Affirmation 8).
Students arrange their own accommodation and transportation. Student needs and satisfaction in
these areas also need to be monitored and evaluated on a regular basis.
7.8 Medical and Counselling Facilities
The College states that a Student Counsellor, who provides advice, counselling and support
services, was appointed in 2003 (Portfolio, p.34). The Panel learned that the current Student
Counsellor, who was appointed in 2008, is also Head of both the Student Affairs Section and the
Admissions and Marketing Department. The Panel appreciates that the involvement of the
Student Counsellor in several departments of the College may be beneficial for the inter-
exchange of information and feedback. However, with a population of 1493 students in 2010-
2011 and only a single Student Counsellor, the Panel was concerned about this overload of
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responsibilities and its impact on the provision of the counselling services provided. This needs
to be evaluated.
Recommendation 17
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies evaluate its provision of counselling
services to students in order to ensure that this is effective and adequately
resourced.
The College has no medical facilities, or nurse (Portfolio, p.81), although the UoB Student
Handbook indicates that the College does have First Aiders and has first aid boxes in the
Registration Department. Although the Panel appreciates the arrangement for referring relevant
medical cases to the nearby Muscat Private Hospital/Royal Hospital, for the protection of both
staff and students, a policy and associated procedures need to be implemented for handling
medical situations (see Recommendation 5). Moreover these need to be communicated
effectively to all stakeholders, through, for example, induction and student/staff handbooks.
7.9 International Student Services
The College has students representing 15 nationalities (Portfolio, p.76) but currently all students
at CBFS are resident in Oman and the College has no office for international students (Portfolio,
p.81). In view of the College’s aspiration to become a regional benchmark of quality in the
spheres of banking and financial education (Portfolio, p.10), it may begin to attract students from
the region, and therefore may wish to further consider this area.
7.10 Social and Recreational Services and Facilities
CBFS states that it encourages students to participate in extracurricular cultural and sports
activities and events and provides various examples of these (Portfolio, pp. 81,82). The Panel
noted that in 2006 students had completed a ‘Students’ Activities Form’ indicating their interests
with respect to sports, hobbies, volunteer work and students’ committees. The involvement of
students in selecting and organizing activities that meet their interests is currently not apparent
but foreseeable in the future, particularly with the implementation of a Student Council (see
Affirmation 7).
Presently, CBFS has no sport facilities on-campus and has an agreement with two local clubs to
use their facilities (Portfolio, p.82). Female students stated that these are available to male
students only. The Panel therefore appreciates the College’s intention to provide on-campus
sports amenities (ibid) and encourages the College to monitor and remain responsive to student
feedback in this area (see Affirmation 8).
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8 STAFF A�D STAFF SUPPORT SERVICES
The College pays comprehensive attention to staff and staff support services. The Human
Resources Department’s "Business Plan 2009-2014" provides guidance for future development
under five goals with particular attention paid to the recruitment and professional development of
staff.
This chapter considers the planning and management of human resources at CBFS and reports on
the Panel’s findings in areas such as: recruitment and selection; professional development and
training; performance planning review; staff organizational climate and retention; and
Omanisation.
8.1 Human Resources Planning & Management
The head of the human resources is responsible for recruitment and selection, performance
evaluation, training and development, and staff retention. The College has a detailed manual
containing staff regulations which includes the promotion policy, the internal policies and
procedures for study schemes for employees, and the induction procedure. Most of the material,
however, dates from 2003 or 2004, and needs a thorough review and updating (see
Recommendation 4).
8.2 Staff Profile
The majority of the faculty comes from India, Sri Lanka, and South Africa, and the College is
currently seeking ways to increase the national diversity of faculty members and the number of
Omani faculty members (Portfolio, p.84). CBFS policies support the further education of Omani
staff members. One reason given to the Panel for offering only one-year contracts was the desire
to keep positions relatively free to be filled by Omanis, a strategy that should perhaps be
evaluated for the potential loss incurred by very short term contracts as well as the possible gain.
A detailed profile of the staff over time was not made available to the Panel in an analyzable
form. The College’s new ERP system is planned to capture human resources data and make
essential analyses and planning possible and to ensure equity in pay scales and promotions (see
Recommendation 2). The Panel noted that the number of staff holding PhDs and the number of
research-trained faculty members was very small for an institution with research ambitions.
8.3 Recruitment and Selection
Although CBFS concludes that "the College has managed to achieve a satisfactory blend of
talents," (Portfolio, p.85), the Human Resources Department "Business Plan 2009-2014" notes
that it is difficult to recruit and retain the employees who are needed. . . , " citing expensive
housing, competition with other institutions, and other factors. A new salary scheme has recently
been approved, partially to address this problem. In the absence of specific data, the Panel
assumes that attrition varies from programme to programme since one academic partner
institution commended CBFS for the stability of its faculty, citing that as one reason they felt the
CBFS programme was their strongest of their off-campus sites.
8.4 Induction
The College describes a relatively comprehensive staff induction process (Portfolio, p.87) and
faculty members recently inducted reported its benefits to the Panel. Those for whom it was
available were particularly enthusiastic about the helpfulness of the mentor system, which is used
by the UoB programme: a senior faculty member, one who has previously taught the courses the
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new faculty member is assigned, helps the newcomer understand what needs to be done in terms
of course management and is available to help in other general ways. This is one of many
examples of good practice that the Panel believes should be shared throughout the College.
Faculty members currently tend to be compartmentalized by programme, and unless they teach in
more than one programme, as some do, they know little of what is happening elsewhere. The
Panel considers that horizontal as well as vertical communication needs to be improved so as to
proliferate good practice.
Recommendation 18
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies develop mechanisms to improve
communication between and among programs so as to share good practice.
8.5 Professional Development
Opportunities for training and professional development are noted by the College (Portfolio,
p.87) and faculty members confirmed that seminars, workshops, and conferences have been made
available to them both on and off campus. Faculty members teaching in the UoB programmes
have had short term visits to the home campus which has helped to forge closer relationships, as
both the faculty and UoB administrators reported to the Panel.
Performance appraisal and professional development activities are to be linked in the future, as
noted below, but the current process for gaining approval to attend an external event has been
reported to the Panel as being cumbersome. Those who wish to avail themselves of a training
opportunity must apply to the Administrative Affairs Committee from where, if recommended, it
goes to the Dean for approval. Depending on the frequency of the committee's meeting, this
process can make it difficult to take advantage of a last-minute opportunity.
Despite the constraints on most CBFS faculty members in teaching courses they have not
developed and the necessity of achieving specified learning outcomes, particular attention to
instructional development could still be of benefit. The Panel notes that given the significance of
student-centered learning, College faculty members would be assisted by both an on-going,
periodic programme to increase their repertoire of instructional strategies and from sharing good
practice with one another. One faculty member mentioned, for example, that he had learned
some skills in working with students in groups in one programme that he was able then to use in
another programme in which he taught. One of CBFS's partners, the UoB, offers a certificate in
teaching skills that could perhaps be the foundation for an instructional development programme.
8.6 Performance Planning and Review
All staff members have an annual performance review (Portfolio, p.88). The Panel learned that
what informs the annual performance review for College staff varies from programme to
programme. For faculty in all programmes the review includes the director's evaluation and
student evaluations, although the protocol for student evaluations is not identical for all
programmes; some programmes mandate and include peer reviews; some use information from
external evaluations. The Panel reviewed examples of the various sources of information that
inform performance reviews at the College and found that they provided a multi-dimensional
picture.
The College reports that it is “ in the process of developing and implementing faculty peer review
procedures to be applied across all departments" (Portfolio, p.88) although, as is the case with so
many other matters at CBFS, the Panel found that peer review is limited to one programme and
has not yet been disseminated beyond those faculty. The examples of peer reviews examined
seemed both collegial and professional. Performance reviews include the opportunity for the
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employee to respond in writing or otherwise add comments for the record and serve as the basis
for promotions and merit increases.
The Panel considers that the College would benefit from monitoring the consistency of
information used to inform annual performance reviews.
8.7 Promotion and Other Incentives
At CBFS promotions appear to refer either to promotions in pay grade (1-17) or to a vacant
administrative position. The Panel found the promotion policy to be clear both in the written
documentation and to faculty members. There is, however, apparently no policy concerning
promotion in academic rank. The College may wish to explore this area.
8.8 Severance
Severance may be voluntary or involuntary, and the reasons for involuntary severance are
included in the staff rules given to all employees. The College notes that there is a "need to
institutionalise the Appeals Procedure" (Portfolio, p.92). The 2003 version of the Staff
Regulations notes that appeals "against disciplinary action can be made in writing and should be
addressed to the Chairman, CBFS."
8.9 Staff Organisational Climate and Retention
The College describes a range of processes and activities aimed towards promoting employee
satisfaction and retention (Portfolio, p.92). In the absence of retention data and staff surveys
however, the Panel had relatively few sources of information concerning staff morale and
retention. In interviews faculty members generally reported satisfaction with their employment
although comments suggested that improvements in communication - both horizontally across
programs and vertically—would be welcome. A staff survey conducted by an external consultant
for the quality team emphasized the need for "better communication between managers and
employees." While that survey also highlighted the need for employees to feel empowered and
appreciated, it also revealed a fairly high level of satisfaction. The Panel learned that, with the
support of the external consultant, the College had developed both staff and student survey
instruments and that these were being finalized. It is important for the College to now implement
staff surveys on a regular basis.
Recommendation 19
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies conduct regular staff satisfaction surveys
to identify any problems or issues that need to be addressed and to aid in
planning.
8.10 Omanisation
The Panel acknowledges the efforts that are being made by the College to increase the number of
Omani employees. Data indicates a steady increase in the number of Omani administrative staff
between 2006-2010. The same cannot, however, be said for Omani faculty members; the current
number remains small and has actually decreased since 2006 (Portfolio, p.93). The College has a
higher studies scholarship scheme for Omani staff but this does not appear to have impacted
significantly on the numbers of Omani faculty members to date. The College identifies the need
to “integrate career progression plans to enable Omani staff to be promoted to senior positions
after the completion of higher studies” (Portfolio, p.94). The Panel supports this intention.
Although the College states that “Omanisation has been integrated into the College HR planning
process” (Portfolio, p.93), the 2009-2014 HR Business Plan does not address Omanisation
explicitly. The Panel considers that enhanced planning and action is required in this area.
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Recommendation 20
The Oman Academic Accreditation Authority recommends that the College
of Banking and Financial Studies enhance its planning of human resources
to specifically target the aim of increasing the number of Omanis taking up
faculty positions.
This should help the College in addressing what is clearly a challenging area. The Panel
acknowledges that Omanis meeting the requirements to serve as faculty on the College’s higher
education programmes are likely to be drawn to employment in the banking and finance industry
itself, where remuneration can be very attractive.
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9 GE�ERAL SUPPORT SERVICES A�D FACILITIES
The College currently occupies a purpose built building which was completed in 2004. Since
then the campus has been subject to review and further development “so that the institution’s
mission and goals are met in a sustainable manner” (Portfolio, p.95). This chapter reports on the
CBFS’s planning and management of its general support services, and comments specifically on
the following: public relations and marketing; communication services; and facilities
management.
9.1 General Support Services and Facilities Planning and Management
Support services and facilities planning and management fall under the responsibility of several
committees and working groups including the Administrative Affairs Committee, the Working
Group on IT and the Library Working Group (Portfolio, p. 94). As part of the ongoing
development of the campus, the College has plans to construct an additional building to
accommodate sports and recreational facilities and provide additional space for teaching and
training (Portfolio, p. 95). Whilst students the Panel spoke to clearly appreciate the College
environment, which the Panel observed to be clean and well-maintained, a system of collecting
feedback from students and also staff on this area has yet to be established. The Panel considers
this to be an important element in the planning and management of College services and facilities
( Affirmation 8 and Recommendation 19).
9.2 Public Relations and Marketing
Public relations and marketing activities fall under the responsibility of the Department of
Admissions and Marketing. The department uses advertisements, educational exhibitions and
electronic media to create awareness about its programs and activities. With its change in status,
student profile and programme offerings, the focus of the College’s marketing activities has also
changed. The College cites an increase in the number of self-supporting students as evidence of
success in this area (Portfolio, p.96). The department has developed a business plan which
identifies aims, objectives and responsibilities. Further development of this plan is required so
that progress and achievements can be monitored and evaluated effectively (see Recommendation
14). The Panel was pleased to see the College’s intention for stakeholder feedback to inform its
marketing efforts (ibid). As noted earlier, the Head of Admissions and Marketing also currently
hold the posts of both Head of Student Affairs and Student Counsellor (see Section 7.8); given the collective range and number of responsibilities involved, this situation warrants attention.
9.3 Communication Services
The College uses a range of typical modes of communication and has a wireless network
available in most areas. The Panel did not explore this area in depth but noted the College’s
intention to appoint more IT support staff in response to feedback from staff (Portfolio, p.97).
The Panel encourages the College to formalize a system for collecting feedback from the College
community on its communication services, and measuring the effectiveness of its provision in
this area (as in Affirmation 8 and Recommendation 19).
9.4 Facilities Management
Planning and management of College’s facilities (building, parking, housekeeping, maintenance,
security etc.) is the responsibility of the Administrative Affairs Committee. Some provision is
outsourced and annual maintenance contracts are in place. The general facilities appeared to the
Panel to be impressively managed and maintained by the College; a system of formal evaluation
in this area would substantiate this and guide future planning.
College of Banking and Financial Studies HEI Quality Audit Report
Page 45 of 50 Oman Academic Accreditation Authority
APPE�DIX A. AUDIT PA�EL
Professor Raymond Harbridge
Consultant to the Vice- Chancellor,
La Trobe University, Australia
Former Dean
Faculty of Law and Management
La Trobe University
Australia
Dr Diane Strommer
Higher Education Consultant
Former Vice President - Academic and Student Affairs
American University of Ras Al Khaima
Dean Emerita - University of Rhode Island
USA
Professor Jos Grobbelaar
Consultant in Higher Education
Pretoria, South Africa
Former consultant to the Institutional Research and Planning Unit
Office for Institutional Effectiveness
University of Johannesburg
South Africa
Professor Ramzi Taha
Dean Postgraduate Studies
Sultan Qaboos University
Oman
Dr Nicola Huson
DAAD (German Academic Exchange Service) Representative and German Coordinator
German University of Technology in Oman (GUtech)
Oman
Susan Trevor-Roper (Executive Officer)
Oman Academic Accreditation Authority
HEI Quality Audit Report College of Banking and Financial Studies
© Oman Academic Accreditation Authority Page 46 of 50
APPE�DIX B. ABBREVIATIO�S, ACRO�YMS A�D TERMS
The following abbreviations, acronyms and terms are used in this Report. As necessary, they are
explained in context. In some cases, URLs are provided to facilitate further enquiries about these
acronyms and terms.
AABFS ………………………………... Arab Academy of Banking and Financial Studies
AACSB ………………………………. Association to Advance Collegiate Schools of Business
AcAC ………………………………….. Academic Affairs Committee
ACCA ………………………………… Association of Chartered Certified Accountants
ADRI.............................................. ........ A four step, cyclical model for analysing a topic, comprising:
Approach → Deployment → Results → Improvement.
AMBA…………………………………. Association of Master of Business Administration
Approach........................................…… The first dimension of the ADRI cycle, which focuses on
evaluating what a HEI aims to achieve for a given topic and how
it proposes to achieve it.
Basel Committee …………………….. The Basel Committee on Banking Supervision
http://www.bis.org/publ/bcbs188.htm
CAAP…………………………………. College Academic Advisory Panel
Call Back Interview .......................….. An interview conducted by the Audit Panel towards the end of
the Audit Visit for which it has invited specific people, usually at
short notice, to respond to particular issues on which the Panel
will require assistance.
CAT …………………………………. Certified Accounting Technician
CBFS………………………………….. College of Banking and Financial Studies
CBO …………………………………… Central Bank of Oman
CIMA …………………………………..Certified Institute of Managerial Accounting
COE …………………………………… Centre of Excellence
CSI ……………………………………. Canadian Securities Institute
Deployment....................................…… The second dimension of the ADRI cycle, which focuses on
whether a HEI’s plans for a given topic are being followed in
practice, and if not, why not.
EDEXCEL ……………………………. UK Examinations Board
EIS ……………………………………. Executive Information System
ELC …………………………………... English Language Center
EQUIS ……………………………...… European Quality Improvement System
ERP ……………………………….…. Enterprise Resource Planning
Executive Officer ........................... ....... An OAC staff member assigned to an Audit Panel to provide
professional guidance and support.
External Reviewer.......................... ........ A Member of the OAC Register of External Reviewers; a person
approved by the OAC Board to participate as a member of the
OAC’s various external review panels.
GFP …………………………………… General Foundation Programme
College of Banking and Financial Studies HEI Quality Audit Report
Page 47 of 50 Oman Academic Accreditation Authority
HEI.................................................…… Higher Education Institution (also known as HEP – Higher
Education Provider)
HND …………………………………. Higher National Diploma
HR ……………………………………. Human Resources
Ibid ……………………………………. Indicates the reference cited immediately before
ICAI …………………………………… Institute of Chartered Accountants in India
ICT ………………………………….. Integrated Communication Technology
IELTS …………………………….….. International English Language Testing System
IIA ……………………………….…… Institute of Internal Auditors
Improvement..................................…… The fourth dimension of the ADRI cycle, which focuses on how
effectively an organisation is improving its approach and
deployment for any given topic in order to achieve better results.
ISACA …………………….…………. Information Systems Audit and Control Association
MBA ………………………….………. Master of Business Administration
MoHE ............................................ ........ Ministry of Higher Education (www.mohe.gov.om)
OAC Board .................................... ........ The governing body of the Oman Accreditation Council
OAC...............................................…… Oman Accreditation Council (www.oac.gov.om)
OFI.................................................…… Opportunity for improvement.
OQF ...............................................…….Oman Qualifications Framework.
Panel Chairperson.......................... ........ The Chairperson of the Audit Panel.
Panel Member ................................…… An OAC External Reviewer who is a member of an Audit Panel.
Portfolio ......................................... ........ see Quality Audit Portfolio.
QAC …………………………………... Quality Assurance Committee
QAU ………………………………..… Quality Assurance Unit
Quality Assurance.......................... ....... The combination of policies and processes for ensuring that
stated intentions are met.
Quality Audit Portfolio .................. ....... The report produced as the result of a self study. Also forms the
main submission made to the OAC by the HEI being audited.
Quality Audit Report......................…… A public report published by the OAC which presents the
findings and conclusions of the Audit Panel’s External Review of
a HEI.
Quality Audit ................................. ....... An independent evaluation of the effectiveness of the system and
processes by which a HEI sets, pursues and achieves its mission
and vision.
Quality Enhancement..................... ........ The combination of policies and processes for improving upon
existing approach, deployment and results.
Random Interview..........................…… An interview conducted in situ by individual Panel Members
during the Audit but separately from the main interview sessions.
HEI Quality Audit Report College of Banking and Financial Studies
© Oman Academic Accreditation Authority Page 48 of 50
Results............................................…… The third dimension of the ADRI cycle, which focuses on the
evidence of the outputs and outcomes of a topic’s approach and
deployment.
Sic …………………………………….. indicates that the preceding segment of the quote was copied
faithfully, in spite of a mistake
SWOT ………………………………… strengths, weaknesses, opportunities and threats
System............................................ ........ In this Report, system refers to plans, policies, processes and
results that are integrated towards the fulfilment of a common
purpose.
UoB ………………………………… University of Bradford
UoS ……………………………..…… University of Strathclyde
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