Prof. Yaqoub Al-Refaei, Director General of Kuwait Institute of Banking Studies (KIBS), inaugurated the training program for newly graduated Kuwaitis to work in the banking sector – the eighth cohort – on April 7, 2019. This annual program is an initiative by the Central Bank of Kuwait, in cooperation with local Kuwaiti banks, aiming to enhance the contribution of the banking sector in developing the capabilities of newly graduated Kuwaitis and qualifying them to work in the sector.
The annual organization of this program reflects the ongoing cooperation between the Central Bank of Kuwait and Kuwaiti banks as part of the banking sector’s social responsibility. It focuses on building national cadres and competencies capable of supporting Kuwait’s developmental journey. The program is implemented under the supervision and management of KIBS and supported by the participating local Kuwaiti banks.
A selected group of newly graduated Kuwaitis are recruited by the banks and undergo a one-year comprehensive training program before officially assuming their job roles. This training covers various theoretical, practical, and field aspects, providing participants the opportunity to gain professional experience and skills, preparing them to efficiently perform their assigned duties in the banking sector.
In his welcoming speech to the participants and officials overseeing the program at KIBS, Al-Refaei encouraged them to take full advantage of this distinguished training. He emphasized that this program is one of the best options for new graduates aspiring to work in the banking and financial sector, due to its diverse and specialized training materials. Graduates of the program acquire a high level of skills and knowledge in this field.
Notably, the program certificate is accredited by The London Institute of Banking & Finance (LIBF), one of the most prestigious global institutions in banking and finance services. This professional accreditation is only granted after verifying that the training provider follows the latest training and professional techniques.
One of the main advantages of this program is that the Central Bank of Kuwait, in cooperation with local banks, hires the selected trainees and enrolls them in an intensive one-year training course at KIBS. The training includes classroom instruction to develop their fundamental and specialized banking skills, e-learning provided in cooperation with leading specialized companies, and practical training within local Kuwaiti banks. This hands-on training aims to link theoretical knowledge with practical application.
Following local training, participants undertake international field training, where they are sent to several advanced countries in banking work to learn the latest technologies and practices in the banking and financial sector, with the goal of acquiring international experience.
KIBS’ management urged participants to excel and put forth their best efforts to maximize the benefits of this program. The management also expressed gratitude to His Excellency the Governor of the Central Bank of Kuwait, the Chairman of KIBS’ Board of Directors, Dr. Mohammed Yousuf Al-Hashash, and the board members for their support of this program. Appreciation was also extended to the human resources directors in the participating banks for their continuous efforts and follow-up to ensure the program’s annual success.
