04/09/2024
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04/09/2024
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Kuwait City, September 04: Kuwait Finance House (KFH) has received an honor from the Council of Ministers of Labor and Social Affairs in GCC States for its distinction and excellence in the execution of the Manpower Nationalization and qualification programs at the private sector level in Kuwait. The recognition was in a special ceremony held in the Qatari capital “Doha” under the patronage of the Ministers of Labor and Social Affairs in GCC.
On the sidelines of receiving the honor plaque, KFH Group Chief Human Resources and Transformation Officer, Zeyad Abdullah AlOmar, expresses his pleasure to receive this recognition as an official tribute to KFH’s efforts in the field of labor qualification and nationalization. This recognition holds particular significance as it is awarded annually, underscoring the continuous efforts of KFH to nationalize and develop the Kuwaiti talents among young graduates and experienced professionals.
KFH is committed to enhancing their capabilities and active roles in various activities and services by implementing a balanced strategy to attract, develop and prepare national expertise. This approach ensures the growth of creative minds and talented individuals as well as skilled professionals, while also qualifying fresh graduates. Additionally, KFH provides equal opportunities for everyone in terms of promotions, leadership roles and being active contributors to KFH’s successful journey across all levels.
AlOmar said that selecting KFH as the best institution for the nationalization of labor at the private sector level in Kuwait was based on certain criteria and calibers through which KFH was able to achieve high scores on the Kuwaitization and training indicators according to the ratings and feedback issued by the concerned official authorities. He affirmed that KFH shall continue its endeavor to raise the Kuwaitization levels as per global standards in this respect.
100% of Kuwaiti hires
AlOmar expressed his pride of KFH having the highest number of Kuwaiti employees at the Kuwaiti banks and private sector level. He highlighted that the Bank has continued attracting and hiring national talents and competencies, in addition to enhancing its policies in terms of learning and development, women empowerment and digital transformation. This dedication is exemplified by ongoing efforts to enhance the digital skills of KFH’s human capital and the introduction of qualitative and specialized programs through KFH Digital Academy. KFH’s impressive hiring records further underscore this achievement, with Kuwaitis making up 100% of the approximately 400 new hires in 2023, resulting in a Kuwaitization ration of 81%.
KFH also provided over 83,000 training hours for more than 3000 employees by the end of last year. KFH also introduced a program to develop its leaders which encompasses the “Building Leadership Excellence” and “Enterprise Leadership” programs in collaboration with prestigious universities and renowned training institutions. This initiative is designed to elevate the capabilities and performance of nearly 50 manager and executive managers within KFH Group.
AlOmar indicated that KFH is achieving remarkable progress in accomplishing sustainability goals at the HR level by applying transparency, development of professional policies at work, commitment to environmental standards, social values, governance and sustainability as a part of improving employees’ education and strengthening the bank’s principles. He added that KFH continues to focus on the enhancement of women representation in all departments and participates in providing the market with banking and finance expertise of Kuwaiti ladies who enjoy high level of professionalism, thus achieving an added value to national economy and Kuwaiti society. KFH has also reinforced its social responsibility and commitment to women empowerment principles by signing agreements with United Nations Entity for the Empowerment of Women as part of the UN Global Compact.
Honoring criteria
The honoring is based on certain criteria and calibers. Each GCC member country nominates private sector institutions which have achieved high and advanced ratios nationalization programs, recruitment of high ratios of national labor and providing appropriate qualification and training opportunities to national labor, taking into consideration the type of advantages and allowances applied at the nominated institution to achieve national labor stability.
Regarding the selection procedures, a special committee is formed under the supervision of the Ministry of Labor and Social Affairs in cooperation with Chambers of Commerce and Industry and other related entities to review and value the information of the candidate institution.
Ratios and figures
- 81% Kuwaitization ratio
- 100% Kuwaiti hires
- 83,000 training hours for over 3000 employees
- Graduation of 50 KFH Group Leaders
