Signing Memorandum between the Ministry of Labor and Social Development and (BIBF)
23-01-2021
His Excellency Mr. Jameel bin Mohammed Ali Humaidan, Minister of Labour and Social Development, underscored the importance of intensifying training in sectors that both attract citizens and add tangible value to the national economy—chiefly, the Kingdom’s fast‑growing financial and banking industry, which requires a professionally qualified Bahraini workforce to fill a wide range of specialised roles. This was announced in a statement by Humaidan on Tuesday, following the signing of a three-month extension to the Memorandum of Understanding between the Ministry of Labour and Social Development and the Bahrain Institute of Banking and Finance (BIBF). The agreement continues to provide training for jobseekers via virtual training technology and was witnessed by His Excellency Rasheed Mohamed Al Maraj, Governor of the Central Bank of Bahrain; BIBF Director-General Dr. Ahmed Abdul Ghani Al Shaikh; and officials from both entities. The MoU, in force since last June, has already yielded positive results in banking transactions training and supports the sector’s demand for qualified national cadres amid the Kingdom’s expanding financial and banking industry. 22 virtual programmes are delivered on the Institute’s platform across accounting, finance, management and Islamic insurance disciplines. Assistant Under‑Secretary for Labour Affairs Ahmed Jaafar Al Hayki signed on behalf of the Ministry, while Dr. Al Shaikh represented BIBF. Humaidan said the MoU’s success—training 391 jobseekers since June 2020—drove the extension, adding that targeted incentives encourage enrolment and sharpen personal and professional skills for smoother integration into the financial sector. He praised BIBF’s collaboration, noting that distance training has proved its effectiveness during the Coronavirus (COVID‑19) pandemic and presents an opportunity to embed modern technologies in specialised courses and broaden training horizons aligned with technological advancement. For his part, Mr. Rasheed Al Maraj, Governor of the Central Bank of Bahrain, expressed his pleasure at the fruitful cooperation between the Ministry of Labour and Social Development and the Bahrain Institute of Banking and Finance in developing tailored training programmes that qualify additional national human resources, thereby advancing the Kingdom’s job‑localisation programme and opening wider avenues for jobseekers to gain training that equips them for suitable positions in the labour market. The Bank, in coordination with the Institute, is keen to offer diverse training programmes that match labour market needs, and it praised the Ministry’s efforts to develop and qualify national human resources in support of labour market growth, sustainability, and workforce stability. Meanwhile, the Director‑General of the Bahrain Institute of Banking and Finance confirmed that the specialised training courses—provided free of charge to jobseekers—have been successfully delivered, stressing that the Institute’s decision to extend the memoranda forms part of its ongoing drive to enhance training and create more qualified national cadres able to serve in the banking and financial sector. He also highlighted the Ministry of Labour and Social Development’s pivotal role in developing Bahraini human resources and integrating them into the Kingdom’s promising economic sectors.