SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Authorise and release foreign finance loans 
SAQA US ID UNIT STANDARD TITLE
10123  Authorise and release foreign finance loans 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  16 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
Persons credited with this unit standard will be able to authorise and release foreign finance facility, authorise and release draw down of funds, sign off the repayment of the loan and attend to queries. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
This unit standard should be completed subsequent to the unit standard for processing foreign finance loans. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Authorise and release foreign finance facility. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The rules and regulations relating to processing a foreign finance facility are understood and explained according to the banks policy and procedure. 

ASSESSMENT CRITERION 2 
2. The processed request for foreign finance facility is received for authorisation and checked for completeness, logical consistency and compliance with the bank's policy. 

ASSESSMENT CRITERION 3 
3. The foreign finance facility is checked for compliance with exchange control regulations. 

ASSESSMENT CRITERION 4 
4. The required credit authorisation is checked according to the bank's policy. 

ASSESSMENT CRITERION 5 
5. The processing accuracy of the existing input is checked as required by the bank. 

ASSESSMENT CRITERION 6 
6. The recovery of revenue associated with the transaction is checked for accuracy and compliance with the bank's policy and procedures and authorised for payment. 

ASSESSMENT CRITERION 7 
7. Internal control and accounting processes are checked for accuracy, completeness and compliance with standard procedures. 

ASSESSMENT CRITERION 8 
8. The decision is taken that the procedural requirements of the foreign finance facility have been met as required by the bank. 

ASSESSMENT CRITERION 9 
9. Authorisation is given for the release of the foreign finance facility within limits, or referred for higher authorisation, according to the bank's procedures. 

SPECIFIC OUTCOME 2 
Authorise and release draw down of funds. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The processing and confirmation of funds raised is checked for accuracy, completeness, compliance with the client's request and the bank's procedures and policy. 

ASSESSMENT CRITERION 2 
2. The preparation for the disposal of funds is checked for accuracy in terms of the client's instructions and the bank's procedures. 

ASSESSMENT CRITERION 3 
3. The calculation of charges and the preparation of entries are checked in the manner required by the bank and authorised for payment. 

ASSESSMENT CRITERION 4 
4. The draw down of funds is authorised and released or referred for further authorisation as required by the bank. 

ASSESSMENT CRITERION 5 
5. The recording of the loan details is checked for accuracy and compliance with exchange control requirements and with bank policy and procedure. 

SPECIFIC OUTCOME 3 
Sign off repayment of foreign finance loan. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The arrangements for recovery of funds from the client for repayment of the loan are checked for accuracy, completeness, use of appropriate exchange rate mechanism, compliance with the client's instructions and standard procedure. 

ASSESSMENT CRITERION 2 
2. Details of repayment are checked for accuracy, compliance with exchange control and the client's instructions. 

ASSESSMENT CRITERION 3 
3. The foreign finance loan is signed off as repaid and the record of repayment is checked for completeness and compliance with standard procedures. 

ASSESSMENT CRITERION 4 
4. The recovery of revenue associated with the transaction is checked for accuracy and compliance with the bank's policy and procedures and authorised for payment. 

SPECIFIC OUTCOME 4 
Attend to queries. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The nature of the query received is identified according to the bank's procedures. 

ASSESSMENT CRITERION 2 
2. Queries are attended to as required by the nature of the query and the bank's procedures. 

ASSESSMENT CRITERION 3 
3. All queries are handled in a timely manner that promotes customer service. 

ASSESSMENT CRITERION 4 
4. Administrative tasks related to the query are completed according to the bank's procedures. 

ASSESSMENT CRITERION 5 
5. Unresolved queries are escalated to the appropriate authority as required by the bank's policy. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
1. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.

2. Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA.

3. Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

Therefore anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution which is accredited by the relevant ETQA. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
Detailed knowledge of specific banking policy and procedures relating to the task/function performed.
Working knowledge of internal and international payment systems.
Working knowledge of internal controls.
Working knowledge of appropriate SWIFT message formats.
Thorough knowledge of exchange rates and treasury procedures.
Working knowledge of relevant exchange control regulations.
Thorough knowledge of trade finance.
Thorough knolwedge of the different types of foreign finance facilities.
Operating and computer systems knowledge sufficient to locate necessary information and complete the task.
General understanding of the specific risks, relevant policies and laws relating to foreign exchange transactions.
General understanding of the different types of foreign finance facilities.
General knowledge of the requirements of the Banks Act.
Working knowledge of the Code of Banking Practice. 


Critical Cross-field Outcomes (CCFO): 

UNIT STANDARD CCFO IDENTIFYING 
The learner is able to understand the relationship between foreign finance facilities and exchange control regulations. 

UNIT STANDARD CCFO WORKING 
The learners is able to evaluate and process a foreign finance facility. 

UNIT STANDARD CCFO COMMUNICATING 
The learner is able to communicate effectively when handling applicable queries. 

REREGISTRATION HISTORY 
As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
  ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
 
1. African Bank Ltd 
2. Bidvest Bank 
3. Nedbank Ltd 
4. The Facilitation Workshop 
5. The Institute of Literacy Advancement 



All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.