CBK submits comprehensive strategic initiative to Cabinet

130 Kuwaitis from both genders to benefit

KUWAIT CITY, May 21: The Cabinet was notified of the recommendation contained in the Economic Affairs Committee report regarding a comprehensive strategic initiative submitted by the Central Bank of Kuwait, reports Al-Seyassah daily.

The strategic initiative known as “Kafa’a” (Arabic for competence) entails a comprehensive vision for capacity building among Kuwaiti nationals in banking, financial, and economic sectors, and it’s set to benefit 130 Kuwaitis from both genders annually through some programs developed with great care to meet the needs of banking sector and the financial community in Kuwait.

It includes rehabilitation program for new Kuwaiti graduates to allow them work in the banking sector - Kuwaiti scholarship program for master’s degree - Harvard College Program for the Development of Banking and Financial Leadership - Cyber Security Leadership Program - Certified Shariah Auditor Certificate - Kuwaiti Economic Researcher

Award - Kuwaiti Economic Student Award - Risk Management Leaders Program.

The initiative (Kafa’a) does not obligate the beneficiaries of these programs to work for the Central Bank of Kuwait, although it gives trainees absolute freedom to choose their desired financial entities to work for, while the beneficiaries do not incur financial liabilitiesin terms of registration fees or accommodation and travel expenses during the training periods abroad.