Omanisation in insurance sector gets a big boost


MUSCAT: The Capital Market Authority (CMA) endeavour to provide qualified Omanis in the insurance sector has reaped a rich reward with a growing number of Omanisation in specialised jobs.

Employing the ‘Tamkeen’ policy, the CMA hopes to make Omanisation ratio in the insurance sector consistent with the government’s plans related to the national cadres.

With the ‘Tamkeen’ initiative, the insurance sector has seen the hiring of qualified Omani human resources.

The Omanisation percentage at the administrative and technical job levels until the middle of this year reached 83.36 percent. It represented 59.73 percent at senior levels, while in the middle administrative jobs it reached 78.13 percent, while it reached 90.18 percent in the operational jobs.

Until the middle of this year, the ‘Tamkeen’ initiative was able to implement approximately 88 specialised training programmes in various technical and administrative fields in the insurance sector, in cooperation with various insurance training institutes and centres, and enabled more than 2,400 employees in the same sector.

The national initiative of Tamkeen’ was announced in 2015.

The CMA has adopted this initiative to empower and train Omani youth in the technical aspects of the insurance sector and motivate them to develop their skills and capabilities by joining training programmes and following up on the training programmes provided by companies for their employees.

The initiative comes as a studied methodology for carrying out replacements in technical positions, senior, middle and operational managements with qualified Omani cadres who are able to lead and develop it to suit the needs of the local market, and enhance the competitiveness of the Sultanate of Oman in the financial and investment sector.

The ‘Tamkeen’ initiative provides an attractive environment to attract qualified national cadres in light of the competition in the labour market and help build specialised national cadres in the sector.

In order to raise the competitive edge of Omani youth, the initiative aims to sharpen their skills, ensure that quality of national cadres is attracted to the sector by ensuring the efficiency of departments specialised in human resources, and choose training programmes that meet the needs of the labour market.

The authority referred to the continuous efforts in implementing the ‘Tamkeen’ plan for the year 2023 to enhance specialised jobs for qualified Omani employees with high qualifications through the implementation of a number of professional certificates, including the Insurance Institute of Law, the Certificate of Associate in Risk Management, and the Certificate of the Third Level of Professional Certificates.

It has also contributed to building national expertise specialised in the sector through retention of national cadres and avoiding skills drain.

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