Bahrain's financial employees grow 3.3 percent in 2002
Employment in Bahrain's banking and finance industry rose by 3.3 percent during 2002, compared with 2001, a Bahrain Monetary Agency (BMA) survey has found. The industry employed a total of 6,215 workers at 2002-end, up from 6,015 at 2001-end, found the survey conducted by BMA's Directorate of Economic Research.
A highlight of the survey was the increase, of 4.3 percent, in the number of Bahraini women employed by the banking sector of the industry. The survey also found that Bahraini workers totalled 4,552, representing 73 percent of total workers employed by the industry in 2002.
Of the Bahraini workers, 3,079 were males, representing 67.6 percent of all Bahrainis employed by the industry, while 1,473 were females. Of the 1,663 non-Bahraini workers, 1,337 were males, representing 80.4 percent of all non-Bahrainis employed by the industry, while 326 were females.
The survey divides the industry into two categories: banking sector, which comprises full commercial banks (FCBs), offshore banking units (OBUs), investment banks (IBs) and representative offices; financial sector, which comprises the insurance industry , exchange houses, brokerage firms and investment advisory firms.
The survey also revealed growth in the number of Bahraini workers employed by the banking sector. Of the 151 new jobs generated by the banking sector in 2002, 137 jobs went to Bahrainis. The number of Bahraini women employed by the banking sector grew 4.3 percent to 1,248 in 2002, from 1,196 in 2001, while the number of Bahraini men grew by 3.4 percent to 2,577 in 2002, from 2,492 in 2001.
The banking sector employed a total of 4,945 workers in 2002, of whom 3,825 were Bahrainis, representing 77 percent of the sector's workforce, while 1,120 (or 23 percent) were non-Bahrainis.
FCBs were the largest employer in the banking sector, employing a total of 2,151 workers, of whom 1,919 (or 89 percent) were Bahrainis; while OBUs employed 1,685 workers (1,118 Bahrainis); IBs employed 1,042 workers (764) Bahrainis and Rep Offices employed 67 workers (24 Bahrainis).
The financial sector added 49 jobs in 2002, of which 30 jobs went to Bahrainis. The financial sector employed a total of 1,270 workers in 2002, compared with 1,221 in 2001. Bahraini workers comprised 57 percent of the sector's workers in 2002, with Bahraini men numbering 502 and Bahraini women totaling 225.
Insurance firms were the largest employer, with 744 workers, of whom 484 were Bahrainis and 260 non-Bahrainis. — (menareport.com)
© 2003 Mena Report (www.menareport.com)