The BIBF and Ministry of Labour & Social Development discuss strengthening training cooperation

5 March 2022

The Director of the Bahrain Institute of Banking and Finance (BIBF), Dr. Ahmed Abdul Hameed Al Shaikh, stressed the institute’s significant role in training and qualifying national cadres in the financial services industry, and its commitment to supporting the employment opportunities of national cadres in this promising sector. He also mentioned the importance of strengthening cooperation with the official authorities and the private sector; supporting the Government’s directions to promote the overall development process in the Kingdom of Bahrain.

This came during the visit of His Excellency Labour & Social Development Minister Jameel Bin Mohammed Ali Hamaidan to the institute’s headquarters in Bahrain Bay, to discuss various topics of common interest, including ways of mutual cooperation between the two parties in the field of training and development of local human capital in Bahrain and preparing them professionally for the job market.

During the visit, the BIBF Director provided an overview of the institute’s programmes and initiatives in training and capacity building for the financial services sector, including training in the areas of banking, finance, Islamic finance, insurance, digital transformation, project management, anti-money laundering, sustainable development, leadership, management, and other popular topics in the business sector.

Dr. Al Shaikh also stressed that the BIBF is constantly seeking to develop the tools of cooperation with various public and private institutions in order to develop the sound work processes in a way that contributes to raising the level of services provided to citizens, by providing the best training services that meet the needs of national cadres.

On this occasion, His Excellency the Minister of Labour and Social Development stressed the importance of the role of specialised training in the development of national cadres and preparing them for the job market in various productive sectors, noting in this context the role of the BIBF and its contributions to the development of human capital in Bahrain, as a leading training and educational provider in various major business disciplines, such as banking, finance, management, information technology and others; mentioning the Ministry’s readiness to strengthening cooperation with the institute in line with the national efforts to qualify human capital professionally and prepare them for the various attractive job disciplines in the labour market.

His Excellency the Minister also stated that the Ministry of Labour & Social Development is continuing to implement its initiatives within the framework of the Economic Recovery Plan by identifying the vital sectors that attract national competencies to work in the next phase, and investing in efforts of Bahraini youth and qualifying them for the labour market, in cooperation with various government and private training institutions, with the aim of preparing job seekers and providing them with the required skills and competencies to merge into the various productive economic sectors in the Kingdom of Bahrain.

Hamidan said the ministry is implementing several initiatives within its plans and projects to enhance Bahrain’s preference in private sector employment, as the ministry, in cooperation with the Tamkeen Work Fund, provides encouraging incentives for them, including providing quality training opportunities, free specialized programs and courses, including training with employment guarantee, job training (opportunities), as well as financial support for trainees during the training period, and supporting the wages of new employees.

At the end of the visit, His Excellency the Minister of Labour and Social Development toured the new building with his accompanying delegation, toured the new building, to see the various facilities available that are equipped with the latest training and education systems.