Citi launches Bahrain tech hub

Citi on Monday launched a global technology hub at its Bahrain offices to develop its digital platforms and strengthen its position in the financial markets.

The first-of-its-kind initiative in the region was launched in cooperation with a governmentfunded labour fund Tamkeen and the Bahrain Economic Development Board.

“Under the plan, Citi will hire at least 100 people in codingrelated roles each year over the next 10 years. The new hires will initially work on two of the bank’s main platforms, Citi Velocity and Citi FX Policy,” said Ala’a Saeed, Citi FX’S global head of electronic platforms and distribution.

Technology hubs support many of Citi’s global businesses and clients and accelerate the development of digital solutions. Citi selected Bahrain as the location of its new technology hub for several reasons, including availability of skilled workforce, transparent regulations and government support.

“Selecting our two flagship systems to develop out of here in Bahrain is a huge endorsement of the talent and the calibre of people that we’ve found here,” Saeed said.

He said Citi’s industry-leading global foreign exchange business will be the first to recruit technologists at the technology hub.

“Our initial focus in Bahrain will be on engineering for Citi’s flagship proprietary platforms, working to enhance execution and connectivity capabilities across FX trading and analytics systems.

“Over time, the technology hub in Bahrain will scale to support Citi Markets and Citi’s Institutional Client Group more broadly, extending the scope of capabilities developed locally even further,” he said.

Tamkeen aims, as part of its efforts, to create new job opportunities and upskill individuals in order to boost their competitiveness and employability in the private sector.

“Tamkeen will subsidise a portion of the salaries and cover training costs locally and abroad,” Tamkeen chief executive Hussain Mohammed Rajab, said without disclosing figures.

Rajab highlighted the importance of such programmes for potential investors to realise the depth of quality talent available in Bahrain.

Citi will hire at least 100 people in coding-related roles each year over the next 10 years Ala’a Saeed,

Citi FX’S global head of electronic platforms and distribution