Bahrain's Labour Fund (Tamkeen) has announced its support for Singapore Gulf Bank (SGB), the digital bank backed by the kingdom's sovereign wealth fund Mumtalakat and privately held investment group Whampoa Group in boosting the employment of skilled Bahraini professionals in high value positions within the financial services sector and assist the bank in launching its operations in Bahrain. 

 

This support aligns with Tamkeen’s strategic priorities for 2025, which focuses on enhancing the position and competitiveness of Bahrainis in the private sector, equipping them with suitable skills for career development in the private sector and prioritizing enterprise growth, digitization and sustainability, and supporting the development of the ecosystem surrounding the labour market and private sector. 

 

Speaking on the occasion, CEO Maha Abdulhameed Mofeez said Tamkeen remains committed to continuing efforts to support the employment of national talents in rewarding roles across key economic sectors, including the financial services sector which is the largest non-oil contributor to Bahrain’s economy at 17.7% of the GDP in Q3 2024. 

 

"Tamkeen’s support will lead to the employment of over 70 Bahrainis at Singapore Gulf Bank forming the majority of the bank’s workforce, and this initiative will provide Bahrainis with exceptional opportunities to gain world-class experience and explore career growth and development opportunities," she stated.  

 

Singapore Gulf Bank Co-CEO Aureole Foong said: "We are delighted to employ qualified Bahraini talent, which will help us efficiently launch and operate our services while maintaining the high-quality standards. We will contribute to Bahrain’s economy by upskilling local talent and strengthening the banking and financial sector with innovative solutions."

 

"Singapore Gulf Bank will provide comprehensive digital banking services to its corporate clients in the digital economy, enabling them to manage both their traditional and digital assets on a single platform while also offering global clients remote digital onboarding solutions," he added.-TradeArabia News Service