In line with the Central Bank of Kuwait’s role and efforts to support the Kuwaiti economy, enhance and develop national cadres, and through the qualification and development of personnel in risk management—an area of significant importance in strengthening the banking work environment and safeguarding financial operations—the Central Bank of Kuwait, in collaboration with Kuwaiti banks and under the management of Kuwait Institute of Banking Studies (KIBS), has launched a new specialized training program in risk management.
In a statement, Dr. Mohammad Yousef Al-Hashel, Governor of the Central Bank of Kuwait and Chairman of KIBS, indicated that the program aims to equip participants with the knowledge and skills necessary to make appropriate decisions and develop effective strategies in risk management within banks and financial institutions. The program spans five months, divided into three non-continuous phases. The first two phases take place in Kuwait and include training programs and practical lectures in risk management in collaboration with the London Institute of Banking & Finance in the United Kingdom and the Global Association of Risk Professionals in the United States, allowing participants to obtain accredited and specialized certificates in this field. The program includes multiple training tracks with professional local and international instructors in risk management. The third phase, lasting one month, is held in the United Kingdom, during which the program covers travel, accommodation, and transportation costs. Participants receive field training in risk management with a global company specializing in this field, gaining practical experience and professional competence through advanced-level simulation programs, workshops, interactive educational experiences, and field visits to major financial institutions there.
Regarding the program’s enrollment conditions, the Governor noted that the criteria for selecting participants are: Kuwaiti nationality, holding an appropriate university qualification, and having at least three years of practical experience in a financial or economic institution in Kuwait. Additionally, passing the required tests and personal interviews is mandatory.
It is noteworthy that the “Kafa’a” initiative, launched by the Central Bank of Kuwait in collaboration with Kuwaiti banks and managed by KIBS , is a comprehensive strategic initiative aimed at building highly qualified national cadres and providing them with the necessary knowledge to advance in their professional paths, equipping them with the essential skills for the labor market in line with the rapid and continuous progress in the financial and banking industry. The initiative also aims to provide institutions in this field with competencies capable of occupying advanced positions in managing major economic, financial, and banking institutions. The initiative includes several programs, including: the “Qualification of Kuwaiti Fresh Graduates for Work in the Banking Sector” program, the “Kuwaiti Economic Researcher Award,” the “Kuwaiti Economic Student Award,” the “Certified Sharia Auditor” program, the “Cybersecurity Leaders Program,” and the “Risk Management Specialists Preparation Program.”
