NIBAF CTM case studies
NIBAF CTM · Put your knowledge to work in context.
The NIBAF Certified Treasury Manager (CTM) is a professional credential for treasury and finance practitioners who want a structured, exam-verified demonstration of competence in corporate and bank treasury work. Candidates typically include treasury officers, cash and liquidity analysts, corporate finance staff, bankers moving into treasury roles, and accountants broadening into funding and risk. The NIBAF CTM case studies are 5 cases and about 3,965 words.
1The 400-Day Deposit: When a Rating Becomes the Argument for Breaching a Limit
A listed cement manufacturer in Pakistan runs a group treasury that pools surplus cash from three subsidiaries. Its Board-approved treasury policy caps exposure to any single bank at 25% of group surplus cash, restricts term placements to a maximum of 12 months, and requires two authorised signatories for placements above PKR 250 million.
644 words, about 3 min2A Government Tender, a Callable Line and a Covenant With 4 Points of Headroom
A listed pharmaceutical distributor prepares a 13-week direct cash flow forecast. Opening cash is PKR 620 million.
855 words, about 4 min3Costing a 2/10 Net 60 Discount and a Reverse Factoring Programme at 2.85x Leverage
A listed FMCG company reports DSO of 94 days, DIO of 71 days and DPO of 38 days on annual revenue of PKR 48 billion and COGS of PKR 33 billion. Its average borrowing cost is 17% per annum (3-month KIBOR plus 350bp) and it is close to its net debt/EBITDA covenant of 3.0x, currently at 2.85x.
719 words, about 4 min4A 6.5% Forward Premium Against a 10% Depreciation View
A textile exporter invoices in US dollars. Annual exports are USD 96 million, of which USD 58 million is matched by imported cotton and machinery spares, giving a natural hedge.
1,008 words, about 5 min5Four Requests in the Last Week of June
It is 27 June, two business days before the half-year end. A listed leasing company's CFO asks treasury to execute a three-day sale-and-repurchase of PKR 900 million of government securities with a counterparty bank, with a simultaneous agreement to repurchase them on 2 July, 'to show a cleaner liquidity profile to the market'.
739 words, about 4 min