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The History of the Australasian Institute of Banking & Finance

Banking in Australia began with the founding of the Bank of New South Wales in 1817 with the first savings bank, Campbell's Bank, opening its doors a couple years later. One might call those early days the "Wild West" of banking as there was no legal constraint on how banking proliferated throughout Australia. Some banks held offices as far away as London and most banks could issue their own notes.

A critical juncture in Australian banking history happened July 21, 1886, when The Banker's Institute of Australasia formed to foster the "promotion of good feeling and friendly intercourse among its members, the dissemination of professional knowledge and inculcation of sound banking practice." The Institute later became the Australasian Institute of Banking and Finance (AIBF), the third oldest banking institute in the world, not to mention one of the oldest associations for professional development in Australia. Eighty years after that critical juncture the Securities Institute of Australia (SIA) was born to aid in the professionalism of stock broking. These latter two institutes merged in 2005 to form the Financial Services Institute of Australasia (Finsia).

Banking history isn't simply about banking as most consumers know it. Finsia provides the entire South Pacific region recourse for over 17,000 financial services industry professionals to hone their skills and to network and cross-network with those in all aspects of wealth management, banking, finance, and investment markets bringing international financial services home to the Australasian economy.

• New Zealand and Australasian Economy: economic and public policy issues are addressed through the Australasian region as well as internationally.
• Australian Banking Deregulation: a paper on the deregulation of the entrance of foreign banking in Australia and its relationship to the efficiency of Australian's banking system.
• The World Bank: Assists developing countries financially and technically with the aid of 186 member countries throughout the world. Lots of data and research, as well as project information and education.
• Australia's Productivity Challenge: The Committee for Economic Development of Australia on the "Global Recession and Australia's Productivity Challenge."
• Australia's Stable Economy: The Australian Department of Foreign Affairs and Trade's statement on the stability and competitiveness of Australia's economy.

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