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AS Bahrain races to become the financial capital of the Middle East an enterprising training scheme that aims to create ‘tomorrow’s financial leaders today’ is taking place in the kingdom.
Twenty of Bahrain’s brightest graduates have been selected by Bahrain Institute of Banking & Finance (BIBF) to take part in an intensive programme that hopes to shape ‘homegrown bankers of the future.’
Head of the Leadership and Management Learning Centre at BIBF, Darshan Singh, said: “People say leaders are born, I say leaders are created by their value systems, their environment and institutions like BIBF who are shaping tomorrow’s financial leaders today.”
The talented graduates were selected from more than 250 applicants and underwent a rigorous screening and testing selection procedure.
Starting this week, they will undertake an intensive three-month training scheme followed by an ‘on the job training assignment’ with international banks.
“We identify the cream of the crop by assessing their critical and numerical thinking, diagnostic reasoning, English language capabilities and personality profiling,” said Mr Singh.
The candidates are groomed to assume key positions in the sponsoring Banks – Ahli United Bank, Bahrain Saudi Bank, Bank Muscat International, Citi Bank, Gulf Finance House, HSBC, Kuwait Finance House, The International Banking Corporation and Arab Banking Corporation.
Over the course of 60 days, the graduates will be immersed in accounting, financial statement analysis, anti-money laundering, corporate finance, capital markets, Islamic banking, risk management, foreign exchange and money markets, in addition to leadership and management courses.
After completing the induction program the graduates will then undergo practical training for nine months to determine the career path, followed by professional certification.
“Today’s financial industry needs young fresh high caliber talent and this is a unique initiative that addresses the challenge,” explained Mr Singh.
“BIBF is developing young bankers who will be aware of what is happening in the economy, the region and of global issues.”
This is the fourth group of graduates who have embarked on the course since it was conceived in September 2006 and 57 of the graduates have been hired by Bahrain’s leading banks.
Mr Singh, who was previously head of human resources at Mars, UK and human resources development manager for Coca-Cola in the Middle East and North Africa added: “This is a unique programme for graduates. It offers a transition from education to the world of work. The programme gives graduates knowledge and skills that enable them to make a positive contribution to their bank on their first day of on-the-job training.”
Neville Pearsall, group head of human resources at Ahli United Bank, said: “I haven’t seen anything like this scheme before and it is excellent because it mobilises industry support for graduates.
“We took two graduates last year and we’ve signed up for three this year. Both of our graduates – who are Bahraini women – have been very successful in their roles in risk management and have done an excellent job.
“We’re great supporters of this scheme and we hope to expand our support, placing graduates around the whole Middle East region.”
