A Complete Guide to IIBF’s Certificate in Foreign Exchange Operations (CCFE) – 2025 Edition
In today’s interconnected global economy, foreign exchange (FX) operations are pivotal for international trade, remittances, and investments. As cross-border transactions grow, banks require skilled professionals to navigate regulations, manage risks, and facilitate smooth dealings. The Indian Institute of Banking & Finance (IIBF) offers the Certificate in Foreign Exchange Operations (CCFE) to meet this demand. This certification, introduced based on RBI recommendations, provides in-depth knowledge of FX regulations, compliance, and trade finance for staff at Authorized Dealer (AD) banks.
The CCFE (also known as Certificate in Foreign Exchange) equips participants with practical skills aligned with RBI and FEDAI guidelines. The 2025 edition updates the syllabus to include the latest Foreign Trade Policy (FTP 2023), making it highly relevant amid India’s export push. This comprehensive guide covers eligibility, exam structure, syllabus, preparation, and more to help you succeed. Whether you’re a branch officer or treasury aspirant, this credential can boost your career in international banking.
🎯 What is the CCFE and Why Pursue It?
The CCFE aims to familiarize banking professionals with all facets of FX operations, from regulatory compliance to daily execution. Developed in collaboration with the Foreign Exchange Dealers’ Association of India (FEDAI), it ensures adherence to RBI protocols and enhances efficiency at AD Category-I banks.
Key Objectives:
- Build expertise in FEMA regulations, trade finance, and risk management.
- Promote ethical practices and compliance to minimize errors in FX transactions.
- Improve customer service in areas like remittances, exports, imports, and investments.
FEDAI mandates this certification for FX-handling staff, making it essential for operational roles. Benefits include career advancement in trade finance, treasury, or international divisions, plus RBI/FEDAI recognition that builds professional credibility.
Note: The course is equivalent to the “Certificate in Foreign Exchange,” and certificates from either are interchangeable.
👥 Eligibility Requirements
The CCFE is designed for active banking personnel:
- Open to employees of Authorized Dealer Category-I banks who are FEDAI members.
- No prior qualifications needed, though basic banking knowledge is recommended.
- IIBF members and non-members can apply; non-members register directly via the IIBF portal with valid ID proof.
If you’re involved in remittances, trade desks, or FX queries, this certification is ideal.
📝 Exam Format and Pattern
The exam is conducted in remote proctored mode for convenience, testing knowledge through objective questions.
| Aspect | Details |
|---|---|
| Mode | Online Remote Proctored (desktop/laptop only; mobiles/tablets not allowed). |
| Question Type | 100 Multiple-Choice Questions (MCQs). |
| Total Marks | 100 (1 mark each). |
| Passing Score | 50 marks (50%). |
| Duration | 120 minutes (2 hours). |
| Language | English only. |
| Negative Marking | None. |
| Frequency | Pre-announced dates: Typically 2nd & 4th Saturdays and Sundays (may vary). |
System Requirements:
- OS: Windows 8/10.
- Hardware: 4GB+ RAM, i3 5th Gen (2.2 GHz+), webcam, mic.
- Browser: Google Chrome v75+ (cookies/pop-ups enabled).
- Internet: Stable 2 Mbps+ upload speed.
During the exam, a proctor monitors via webcam/mic. Ensure a secure, quiet environment with no unauthorized items (e.g., phones, notes). Login 30 minutes early for verification.
Fees: ₹1,100 + GST per attempt (non-refundable). Register separately for each try.
📚 Syllabus Breakdown: 2024 vs. 2025 Comparison
The syllabus is divided into six modules, covering theory, regulations, and practical applications. The 2025 version is an incremental update from 2024, primarily refreshing the Foreign Trade Policy to FTP 2023.
| 2024 Syllabus | 2025 Syllabus | Change |
|---|---|---|
| I. FEDAI Role & Rules | I. FEDAI Role & Rules | Same |
| Foreign Exchange Rates & Risk Management | Foreign Exchange Rates & Risk Management | Same |
| Code of Conduct, Ethics/Compliance, Corporate Governance | Code of Conduct, Ethics/Compliance, Corporate Governance | Same |
| II. FEMA – Individuals (LRS remittances, other remittances, FC accounts, overseas assets, remittance of assets, NRI deposits, borrowings, investments) | II. FEMA – Individuals (same structure and topics) | Same |
| III. FEMA – Entities (Imports, ECB, Exports, ODI, Investments in India by non-residents, LO/BO/PO of foreign entities) | III. FEMA – Entities (same structure and topics) | Same |
| IV. Documentary Credits & Standby Credits (INCOTERMS 2010, URC 522, UCP 600, eUCP 1.1, ISBP 745, URBO 750, URDG 758, DOCDEX 872) | IV. Documentary Credits & Standby Credits (same ICC rules) | Same |
| V. Export Finance (Pre/Post shipment in INR & FC, Factoring, Forfaiting, ECGC) | V. Export Finance (same coverage) | Same |
| VI. Foreign Trade Policy (FTP 2015–20) | VI. Foreign Trade Policy (FTP 2023) | ✅ Updated (FTP replaced with latest version) |
✅ Conclusion:
The only change from 2024 → 2025 is the update of Foreign Trade Policy (from FTP 2015–20 to FTP 2023).
All other modules remain unchanged.
Download links: (Click below)
📝 Getting Practice Papers
Enhance your preparation by accessing practice papers. Click here test your readiness.
📅 Exam Schedule
⚠️ Disclaimer: This blog is for informational and educational purposes only. The syllabus and exam details are based on official IIBF publications. Candidates should always confirm the latest updates directly from IIBF’s official website.
