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The agreement was signed on behalf of the Labour Fund by Dr. Ahmed Abdulghani Al Shaikh, Labour Fund's Vice President for Enterprise & Human Capital Development, BIBF Director Mr Garry Muriwai as well as the Chairman of the BIA Mr. Ashraf Bseisu.
According to Dr Ahmed Al Shaikh, the programme will offer a mixture of core insurance subjects, soft skills development, and on-the-job training.
"The project over the 5 years will enroll 120 promising young Bahraini graduates in a specialised 15-month programme that requires the attendance of specialised intensive courses at the BIBF in the first 3 months besides preparing them to pass industry standard examinations and gain professionally recognised qualifications,"
Dr Al Shaikh stated.
"In this period, focus is also on helping the participants gain the necessary soft skills that will help them integrate better in their job roles," he said.
Al Shaikh added, "On-the-job placement is a major constituent of the GEM programme as all trainees will be offered employment with insurance and reinsurance companies while undergoing the programme."
"For an industry that is expanding and growing rapidly, efforts to prepare and invest in future Bahraini leaders in the insurance industry will be of great impact on the kingdom's ability to provide the required pool of talent for future needs," he said.
He added, "These talents will not only be able to embark on a successful and rewarding career in insurance, but will also play a major role in sustaining the successes of their companies and the sector's future economic output."
The Director of the BIBF, Mr. Garry Muriwai, expressed his delight at the opportunity presented to the BIBF to play a major role in preparing the future leaders of the Kingdom's insurance sector and assured the backing of the financial sector.
"We are proud to play a part in this strategic initiative which is in line with BIBF mandate supported by CBB to attract more young Bahrainis in this vital industry,"
he said.
"The project is particularly significant for the insurance industry," pointed out BIA's Chairman Ashraf Bseisu.
He indicated that the BIA is working very closely with the industry to enhance and develop the calibre of Bahrainis in the industry; while providing them with a clear advancement and career path in this vital economic sector.
"The BIA, in line with its mandate to help equip the industry with multi-skilled indigenous workforce and to promote Bahrain as a regional insurance center of excellence, joined hands with the Labour Fund to initiate this project that will attract Bahrainis to this sector and provide sustainable employment opportunities," he said, "Our gap analysis indicated beyond doubt the need to further develop Bahrainis to fill middle management positions. That is the reason this programme is structured to provide select Bahraini graduates this unique opportunity by combining training & development, on-the-job training and financial stability."
The programme will run over 5 years in three batches of 40 participants each. After an initial 3 months of intensive studies at the BIBF, successful candidates will be placed within insurance companies where they will continue both the program's theoretical and on-the-job training segments.
"We believe that this is a win-win situation for all parties. It will undoubtedly help to further consolidate Bahrainis position as a financial and insurance hub. With the support of the Labour Fund, we hope to open doors to exciting career opportunities for Bahrainis in this fast-developing sector," said Bseisu.
Dr Ahmed Al Shaikh concluded that the Labour Fund is continuing its efforts to identify work opportunities that show the potential for development and career-growth for Bahrainis; in addition to training Bahrainis to take up better working opportunities. He said that an official announcement will shortly appear in the press to invite applications for this programme. The programme will be open to Bahrainis who have graduated within the previous two years with a recognised university degree in applied sciences, mathematics, statistics, engineering, business administration and economics.
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Posted by Siba Sami Ammari
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