The Banking Executive Magazine - April 2023 Issue

Career Chronicle The work team formed to apply Kuwaitization policy on the jobs in cooperative societies has started im- plementing the decision of the com- mittee for amending demographics and developing the labor market by obligating the cooperative societies to quickly apply Kuwaitization pol- icy on all supervisory and leadership positions within them into practice. According to informed sources, the work team held its first meeting, presided over by the undersecretary of the Ministry of Social Affairs, dur- ing which it discussed the implemen- tation mechanisms. The team discussed setting controls and mechanisms for the replacing the occupants of about 1,000 super- visory jobs in cooperative societies, including general managers, their deputies, and heads of departments, with young Kuwaitis. This represents the first batch, to be followed by other batches later. The sources affirmed that requests to ap- point retirees for these aforemen- tioned jobs will not be accepted, adding that they could be hired as consultants within the cooperative management boards to benefit from their expertise. They indicated that the team will hold its second meeting next Tuesday to complete discussions on implementing Cabinet’s decisions to amend demographics and develop the labor market. ISSUE 172 APRIL 2023 the BANKING EXECUTIVE 49 KUWAITIZATION OF CO-OPS JOBS BEGINS; 1,000 REPLACEMENTS AVAILABLE