Kuwait Updates

Local Banks Instructed To Increase Kuwaiti Employees To 70 Percent

Jan 16
10:34 AM 2018

Efforts to nationalize leading positions in the banking sector have been relatively fruitful so far, according to Well-informed banking sources who stressed that 33 percent of those positions, including CEOs, their deputies, department managers and heads of various sections are currently occupied by Kuwaitis. The sources added that local banks recently received instructions to increase Kuwaiti employees to 70 percent in various banking positions. The sources said that several leading banks in Kuwait are already managed by Kuwaitis “who have shown remarkable competence and achieved unprecedented success.” The sources also noted that Kuwait Central Bank is very committed to such steps and had earlier urged local banks to set welldefined schedules to put such instructions into practice and limit the use of foreigners for training purposes only.

COURTESY : Kuwait Times

Related Articles