Kuwait banks told to in­crease Kuwaitis in po­si­tions

Banking Frontiers - - Regulator -

The Cen­tral Bank of Kuwait has asked banks in the coun­try to in­ten­sify ef­forts to in­crease the num­ber of Kuwaitis in ex­ec­u­tive po­si­tions. The aim is to reach at least 70% of lo­cal peo­ple at all lev­els. The cen­tral bank has sent a cir­cu­lar to all the banks, say­ing this trend is car­ried out within the frame­work of pro­fes­sional pro­ce­dures that clearly show a sig­nif­i­cant devel­op­ment of the target ra­tio, based on a timetable, show­ing the cur­rent em­ploy­ment ra­tios of each bank and how they reach this goal in ex­ec­u­tive po­si­tions. It has spec­i­fied the exercise should be com­pleted by the end of March. The Cen­tral Bank had stressed dur­ing these dis­cus­sions the im­por­tance of rais­ing the pro­por­tion of na­tional em­ploy­ment in lo­cal banks to meet the target, especially in ex­ec­u­tive po­si­tions. This di­rec­tive is sup­ported by the re­cent cabi­net de­ci­sion, which raised the na­tional em­ploy­ment ra­tio of non-gov­ern­men­tal or­ga­ni­za­tions in a new up­date re­gard­ing the de­ter­mi­na­tion of na­tional em­ploy­ment rates.

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