‘Education, training vital for economic growth’

TDT | Manama           

The Daily Tribune – www.newsofbahrain.com

Education and training matching the world standards are vital for economic growth and Bahrain is leaving no stone unturned when it comes to implementing the highest standards in education, said Dr Shaikha Rana bint Isa bin Daij Al Khalifa, Secretary General of the Higher Education Council, Deputy Chairman of the Higher Education Council Board of Trustees. 

She made this statement while speaking at the annual graduation ceremony of Bahrain Institute of Banking and Finance (BIBF). Central Bank Governor Rasheed Al Maraj and many other dignitaries were present on the occasion.  Dr Shaikha Rana praised BIBF for its contributions to the higher education sector.

“Today, we celebrate the graduation of yet another class from what has for so many years now been a truly fruitful academic partnership between the BIBF in Bahrain and Bangor University in the United Kingdom. Whether you have studied Banking and Finance or Accounting and Finance, the statistics regarding job placement with these joint programs seem to be really hopeful and reassuring. 

“According to the official BIBF website, 56 per cent of graduates of these programs are employed within six months of graduation, with a total of 80pc securing a job within a whole year of graduation.  “Interestingly enough, not all graduates then go on to actually work in the field of finance itself.

According to the BIBF’s own website, of the aforementioned 80pc who secure a job placement within 12 months of graduation, 59pc of them typically go on to work in the financial sector, 9pc end up working for auditing firms, with another 9pc interestingly enough pursuing careers in education and training, and the remaining 23pc going into various other miscellaneous sectors and industries.  

“The absolute transparency with which the BIBF has displayed this data, which I do genuinely hope is up to date, is very commendable indeed and deserves much praise and recognition. “It is my hope that all of our HEIs, both public and private, bear this acknowledgement in mind when tracking the career prospects and trajectories of their alumni.”

Dr Shaikha Rana said keeping curricula up to date and in-sync with the ever-changing requirements is of great importance in a globalized and frequently evolving economy.   “Our human resources, Bahrainis themselves, are the fuel that powers the engine of our financial economy – and if Bahrain is to continue to grow and become the financial hub of the region then we must continue investing in the development and refinement of this very precious resource through education and training.”