The Council of Ministers of Labor and Social Affairs in GCC States honored Kuwait Finance House for its distinction and excellence in the execution of the Manpower Nationalization and qualification programs at the private sector level in Kuwait, in a special honoring ceremony held in the Saudi capital “Riyadh” under the patronage of the Ministers of Labor and Social Affairs in GCC.
On the sidelines of receiving the honoring shield, the Group Chief HR Officer at KFH, Zeyad Abdullah AlOmar expressed his delight and happiness with this honoring which he considered as an official recognition of KFH efforts in the field of labor qualification and nationalization, thus reiterating commitment to enhance the bank’s role to cooperate with the concerned authorities to better serve labor Kuwaitization efforts, alleviate manpower educational and occupational level and refurbish their expertise as per global standards and calibers.
AlOmar emphasized 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.
AlOmar expressed his pride of KFH having the highest No. of Kuwaiti employees at the Kuwaiti banks and private sector level. He highlighted that the Kuwaiti hires during the last few years ranged between 98% - 100% while the Kuwaitization ratio reached 78.2% as at the end of H1 2022.
AlOmar affirmed that KFH shall continue its endeavor to raise the Kuwaitization levels as per regulatory requirements in this respect. He indicated that KFH is keen on continuing to have Kuwaitis holding posts at the middle and executive management levels, thus noting that the Kuwaiti top management leadership has reached 77%.
Additionally, 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.
He added that several KFH lady employees hold executive management posts as they have proved their ability to shoulder significant and important roles. He mentioned that women representation ratio in KFH branches approximated 35% while the recruitment of ladies in “Forsa” program approximated 53% as at 2022.
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 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.
Awards and Recognitions
KFH has a long record of awards wining for its pioneering role and distinction in the human resources field. KFH has won several remarkable and highly reputed awards including “Best Advance in Employee Engagement” award and “Best Advance in Business Automation” award for the year 2022 from Brandon Hall Group, a company specialized in the evaluation and performance assessment of banks, companies and institutions around the world, through studies, research and insights of experts specialized in the fields of learning and development. KFH has also won the “Top Private Sector Recruiter for National Talents” from the Public Authority for Manpower, in appreciation of its exceptional efforts in the recruitment of national labor. KFH has also won the (AUM CORPORATE AWARD 2022).
Ratios and Figures
- 98% - 100% Kuwaiti Hires
- 78.2% - Kuwaitization ratio
- 77% - Kuwaitis in top management leadership
- 35% - Ladies’ representation in KFH branches
- 53% - Ladies recruitment in “Forsa” program