“This has resulted to urgent need for interdisciplinary art to coincide with the increasing number of companies operating in the market and expanding its insurance portfolio,” the BIA in a statement added.
As part of Bahrain Insurance Association’s (BIA) continuous efforts to enhance the operational efficiency in the insurance sector in Bahrain, a seminar on professional development in the insurance industry was held on Wednesday. Senior Executives from Central Bank of Bahrain, Tamkeen, Bahrain Qualifications Framework, HRD Fund, Bahrain Institute for Banking and Finance, Gulf Insurance Institute, insurance companies, brokers and service providers attended the seminar.
“Despite the modest attempts of training by most of the insurance companies, yet it is still below the required qualified level. BIA therefore sensed the need to organize this seminar to share together the views and set strategies to encourage and grow the Bahraini expertise in the insurance sector,” it added.
BIA’s Chairman Younis Jamal in his welcome address highlighted the importance of creating level playing field for training for young Bahraini professionals in insurance sector.
He thanked all the attendees and expressed appreciation towards the Central Bank of Bahrain for setting the rules and regulation that have synchronized the Bahraini market, and made it an insurance hub of the region.
Presentations were made by Tamkeen on strategic and operational plans to enhance the overall prosperity of Bahrain by investing in Bahraini employability, job creation and social support. Also, HRD Fund whose major initiative is to develop appropriate skills and specializations uniquely required in Bahrain’s financial services industry; BIBF who offers tailor made course curriculum to meet a broad spectrum of insurance and financial training needs based upon both current and strategic market developments and the business objectives, GII, which provides qualification framework that is region specific and internationally accredited, and promotes the highest standards of professional conduct in the industry across the Middle East. Bahrain Qualifications Framework, that aims at developing a national qualification guideline, and initiating a coherent and a transparent framework helping Bahrainis in defining their learning objectives and planning their future career.
Through presentations, Tamkeen, BQF, HRD Fund, BIBF, and GII shared their initiatives and recommendations towards the concept. After each presentation there were open discussions.