MANAMA: His Excellency Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain (CBB) said that the development of human resources tops the list of priorities in the Kingdom, and noted that in order to strengthen the country’s development in this area, a thorough study of the skills gap in the labour market is vital.
The CBB Governor was speaking as he met with in his office at the CBB with the Board of Trustees of the Human Resources Development Fund (HRD Fund) – Banking & Finance Sector, led by Murad Ali Murad. The final version of the results of a comprehensive skills gap study of the financial services industry, carried out by the HRD Fund in May, was provided to Mr. Al Maraj.
Mr. Al Maraj highlighted the importance of the study in enhancing the sustainability of the banking and financial sector by meeting the training needs of required disciplines, while steering the improvement plans of the nation and enhancing the competitiveness of the local labour market.
He also noted that the results of the study were in line with the Bahrain Economic 2030 vision to development human resources as a strategic source for sustainability, development and progress.
“This study identifies the training requirements for the reported skill-gaps, and determines the roles anticipated to increase in demand within the financial services industry in the next five years”, said HRD Fund Chairman Mr. Murad.
He noted that the study included the identification of the skills gap in existing jobs between Bahraini and non-Bahraini workers, and stressed that the identification of these gaps would contribute significantly to the development of nationals, and would direct the training to ensure that the sector’s expansion needs were being met in an optimal manner.
The HRD Fund includes senior executives with a background in banking, finance, insurance and human resources, ensuring a coordinated effort geared towards a common goal.