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Kuwaitis hold 55% of managerial positions in local banks

KUWAIT CITY, April 18: EFG Hermes Financial Group revealed that Kuwaitis hold 55 percent of managerial positions in local banks and these banks are now planning to increase this percentage, reports Al-Rai daily. The group cited the annual reports of Kuwaiti banks for the year 2020, stating that 55 percent of the management positions (excluding middle management) are occupied by Kuwaitis. In Kuwait Finance house (KFH) and Boubyan banks, 70 percent of management positions are held by Kuwaitis, the group disclosed. Earlier, the Central Bank of Kuwait issued a circular to all local banks to nationalize jobs in upper and middle departments; in addition to obligating them to increase the percentage of Kuwaitis in upper and middle positions by up to 70 percent.

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