Frank is an accomplished accountant with Master degrees in Accounting and Commerce, and over 10 years of experience in the finance industry. He has worked with leading companies such as Superpartners and Link in the superannuation industry, gaining valuable experience in accounting and finance. Currently Frank is responsible for multiple tasks including accounts payable, reconciliation and monthly financials and relevant reporting. Frank is also actively pursuing a CPA certification demonstrating a passion for continuous learning and professional development. Frank is a highly skilled accountant that consistently demonstrates his commitment to professionalism, accuracy and attention to details, and makes a valuable addition to our finance team
What's a
Restricted ADI?
International Bank of Australia is authorised by the Australian Prudential Regulation Authority (APRA) to operate under a Restricted Authorised Deposit-taking Institution licence until 2nd November 2024. Under this authority International Bank of Australia has restrictions on the amount of deposits it can take. Under this restricted licence International Bank of Australia is not required to meet the full ADI prudential framework and will not be offering banking products to the general public.
International Bank of Australia has put in place arrangements to protect customers in the event it is required by APRA to discontinue banking business and exits the banking industry. This includes:
- International Bank of Australia being required by APRA to contact customers to advise how they are impacted, e.g. deposits may be returned or transferred to another bank;
- the Banking Act 1959 provisions for the protection of depositors apply to International Bank of Australia; and
- International Bank of Australia is covered by the Australian Government Financial Claims Scheme (FCS). The FCS applies only to protected accounts. It is important customers check the terms and conditions of their specific product to determine if it is protected under the FCS.
Licensing guidelines for authorised deposit-taking institutions | APRA
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