IIBF CTP, Certified Treasury Dealer and AFP CTP: What Is the Difference?
One course with two names, and a US credential that shares one of them.
Three names cause the confusion. Certified Treasury Dealer is the old name of an IIBF course. Certified Treasury Professional (CTP) is that same IIBF course under its new name. And CTP is also the name of a US credential run by the Association for Financial Professionals (AFP), which has nothing to do with IIBF.
So if you work in an Indian bank's treasury, the IIBF CTP is the one you mean. If a search result talks about US testing windows or corporate cash management experience, you have landed on the AFP credential.
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What IIBF Says About the Rename
IIBF's notice on change of examination names reads: "'Certified Treasury Dealer' changed to 'Certified Treasury Professionals'". The notice does not give an effective date. The course's exam page and its 2026 Rules and Syllabus use the new name only.
The Three Names Side by Side
Status
IIBF Certified Treasury Dealer
Old name, no longer used
IIBF Certified Treasury Professional
Current name of the same course
AFP Certified Treasury Professional
A separate credential
Run by
IIBF Certified Treasury Dealer
Indian Institute of Banking & Finance
IIBF Certified Treasury Professional
IIBF, with the certificate issued jointly with FIMMDA
AFP Certified Treasury Professional
Association for Financial Professionals (US)
Focus
IIBF Certified Treasury Dealer
Bank treasury dealing
IIBF Certified Treasury Professional
Bank treasury: money market, bonds, forex, derivatives, dealing ethics
AFP Certified Treasury Professional
Corporate cash management, corporate finance and treasury operations
Who can take it
IIBF Certified Treasury Dealer
See the new name
IIBF Certified Treasury Professional
12th pass in any discipline, IIBF members and non-members, no age limit
AFP Certified Treasury Professional
Minimum two years of full-time corporate cash, treasury or finance experience (a graduate business degree counts as one year)
Assessment
IIBF Certified Treasury Dealer
See the new name
IIBF Certified Treasury Professional
100-MCQ online exam (50/100 to pass), then 3 days of training (25/50 to pass)
AFP Certified Treasury Professional
Exam taken in AFP testing windows
Rules followed
IIBF Certified Treasury Dealer
See the new name
IIBF Certified Treasury Professional
Indian: RBI, FEDAI, FIMMDA, CCIL
AFP Certified Treasury Professional
US corporate treasury practice
| IIBF Certified Treasury Dealer | IIBF Certified Treasury Professional | AFP Certified Treasury Professional | |
|---|---|---|---|
| Status | Old name, no longer used | Current name of the same course | A separate credential |
| Run by | Indian Institute of Banking & Finance | IIBF, with the certificate issued jointly with FIMMDA | Association for Financial Professionals (US) |
| Focus | Bank treasury dealing | Bank treasury: money market, bonds, forex, derivatives, dealing ethics | Corporate cash management, corporate finance and treasury operations |
| Who can take it | See the new name | 12th pass in any discipline, IIBF members and non-members, no age limit | Minimum two years of full-time corporate cash, treasury or finance experience (a graduate business degree counts as one year) |
| Assessment | See the new name | 100-MCQ online exam (50/100 to pass), then 3 days of training (25/50 to pass) | Exam taken in AFP testing windows |
| Rules followed | See the new name | Indian: RBI, FEDAI, FIMMDA, CCIL | US corporate treasury practice |
The Bodies Behind Each Name
- IIBF
- Indian Institute of Banking & Finance, which runs JAIIB, CAIIB and the certificate courses for Indian bankers, including CTP.
- FIMMDA
- Fixed Income Money Market and Derivatives Association of India, the market body for bonds, money market and derivatives. It co-issues the IIBF CTP certificate.
- AFP
- Association for Financial Professionals, a US body. Its CTP is aimed at corporate treasury and finance staff. AFP's old site, afponline.org, now redirects to financialprofessionals.org.
See the Indian bank treasury syllabus in action. No signup.
What Did Not Change With the Rename
The rename changed the title, not the slot the course fills. CTP is still IIBF's blended treasury certification: one online Treasury Operations paper of 100 MCQs in 2 hours with no negative marking, then 3 days of virtual or classroom training, which must be completed within 15 months of the online result. There is no certificate for the online exam alone.
The fee is ₹6,000 plus GST with virtual training. Physical classroom training raises it to ₹11,000 plus GST in Mumbai, Delhi, Chennai and Kolkata, and ₹15,000 plus GST at other centres. In 2026 the online exam ran on 11 and 25 April, 11 and 25 July, and 10 and 24 October.
Which One Do You Need?
- check_circleYou work, or will work, in an Indian bank's treasury, ALM or mid office: IIBF CTP.
- check_circleYou hold an old Certified Treasury Dealer certificate: it is the same IIBF course under its earlier name.
- check_circleYou work in a corporate treasury team in the US or a multinational that asks for AFP credentials: AFP CTP. Check its eligibility and fees on AFP's own site.
- check_circleYou want one credential that counts for both: there is none. The two exams test different markets and rules.
FAQs
Is IIBF Certified Treasury Dealer the same as Certified Treasury Professional?expand_more
Yes. IIBF's notice on change of examination names says "'Certified Treasury Dealer' changed to 'Certified Treasury Professionals'". It is one course under a new name.
Is the IIBF CTP related to the AFP CTP?expand_more
No. They share a name only. The IIBF CTP is run by IIBF with FIMMDA for Indian bank treasury staff. The AFP CTP is a US credential run by the Association for Financial Professionals for corporate treasury and finance staff.
Does the AFP CTP need work experience?expand_more
Yes. AFP asks for a minimum of two years of full-time work in corporate cash or treasury management or a corporate finance role. A graduate-level business degree counts as one year. The IIBF CTP has no experience requirement.
Who issues the IIBF CTP certificate?expand_more
IIBF and FIMMDA jointly, within 2 months of completing both the online exam and the 3-day training.
Access exam-specific mock tests directly from your Android device.Next steps
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