IIBF Forex for Individuals study materials
IIBF Forex for Individuals study resources

IIBF Forex for Individuals study guide

IIBF Forex for Individuals · Work through your exam, one topic at a time.

The IIBF Forex for Individuals credential is a specialised banking certificate examination offered by the Indian Institute of Banking & Finance, an institution established in 1928 as a company under Section 26 of the Indian Companies Act, 1913. This independent study page is not affiliated with or endorsed by IIBF; it exists to help candidates locate reliable exam information and prepare systematically. The examination is aimed at bank employees and aspirants who handle or advise on retail foreign exchange business for individual customers, and at candidates who want a structured grounding in the regulatory and operational side of personal forex. The syllabus as published for this exam is organised into four equally weighted domains: foreign exchange fundamentals and the FEMA framework; retail forex products and facilities for individuals; documentation, KYC and compliance for individual forex transactions; and rates, charges, settlement and customer service in retail forex. The IIBF Forex for Individuals study guide has 4 sections and about 1,208 words.

01

Foreign Exchange Fundamentals and the FEMA Framework

FEMA 1999 replaced FERA and shifted India from exchange control to exchange management. The exam tests whether you can route a retail request correctly: current or capital account, permitted or prohibited, LRS or prior approval, and which authorised person can act.

320 words, about 2 min
02

Retail Forex Products and Facilities for Individuals

Authorised dealers and full-fledged money changers sell foreign currency notes and coins, prepaid forex cards and travellers cheques, and authorised dealers also execute outward remittances by wire or demand draft. They encash inbound foreign currency too.

317 words, about 2 min
03

Documentation, KYC and Compliance for Individual Forex Transactions

KYC is risk-based, not a single form. For individuals, collect passport, PAN and Aadhaar as applicable, verify identity and address, understand purpose and source of funds, screen against sanctions and PEP lists, and refresh KYC periodically.

272 words, about 1 min
04

Rates, Charges, Settlement and Customer Service in Retail Forex

Banks quote TT buying and selling, card rates, cash rates and bill rates. The RBI reference rate is a market benchmark, not a customer price.

299 words, about 1 min