KIBS Launches the Third Cohort of the Risk Management Leaders Program

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Kuwait City, Jan 28: As part of the Central Bank of Kuwait’s (CBK) strategic initiative to cultivate highly qualified national talents across various financial and banking domains and to bolster risk management capabilities, crucial for enhancing the banking landscape and fortifying financial operations, the Kuwait Institute of Banking Studies (KIBS) announced the inauguration of the “Risk Management Leaders Program” on Sunday, January 28, 2024 This program, attended by a distinguished group of national talents, features representing banking sector and including additional participants as part of corporate social responsibility. The initiative aligns with the Kafa’a program, spearheaded by the CBK in collaboration with Kuwaiti banks and overseen by the Kuwait Institute of Banking Studies (KIBS).

KIBS emphasized that the program’s primary goal is to equip participants with the essential knowledge and skills necessary for making strategic decisions and developing effective risk management strategies within banks and financial institutions. The program spans almost six months and is structured into four phases. The initial two phases, conducted in Kuwait, feature training programs and practical lectures on risk management in collaboration with the London Institute of Banking and Finance in the United Kingdom and the Professional Risk Managers’ International Association in the United States of America. This collaboration allows participants to acquire accredited and specialized certificates in the field. The program comprises multiple training tracks led by both local and international professional lecturers. The third phase involves the submission of case studies and graduation projects, followed by the fourth phase, which entails over two weeks of hands-on field training through the Centre of Governance, Risk, and Regulations at the London Institute of Banking. This phase provides trainees with practical experience and professional competencies through workshops, interactive educational experiences, and field visits to prominent financial institutions in the UK. The program covers the costs of travel, accommodation, and transportation.

At the commencement of the program, Ms. Rana A. Al-Nibari, the Director General of the Kuwait Institute of Banking Studies (KIBS), extended a warm welcome to the participants and expressed gratitude for their engagement in the initiative, which endeavors to cultivate a generation of leaders specialized in risk management in alignment with international best practices. She also expressed her appreciation to His Excellency, the Governor of the Central Bank of Kuwait and Chairman of the Board of Directors of the Kuwait Institute of Banking Studies, as well as the board members, for their support of the program. Additionally, she conveyed gratitude to the HR managers in the participating banks for their ongoing efforts and annual commitment to ensuring the success of this program and other essential training initiatives.

The Kafa’a initiative represents a comprehensive and strategic effort aimed at developing highly qualified national talents. Its goal is to furnish individuals with the requisite knowledge to advance in their careers and equip them with the necessary skills to meet the dynamic demands of the financial and banking industry. Furthermore, the initiative seeks to establish a pool of qualified nationals capable of assuming leadership roles in major economic, financial, and banking institutions.

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