The General Council for Islamic Banks and Financial Institutions in Bahrain, which is considered the official body for Islamic financial industry, organized a remote professional development webinar. The focus of this webinar was on “Developing Careers in Islamic Finance and Utilizing Modern Technology Tools in Training Strategies.” This event coincided with the twenty-second meeting of the General Council’s Scientific Accreditation Committee.
A diverse group of experts in career development, CEOs, and human resources directors in Islamic banks and financial institutions, along with stakeholders, gathered to discuss important topics about technology utilization in training, which is essential for improving performance and creating developmental opportunities.
The session commenced with welcoming remarks by Dr. Abdulla Buali, the Secretary-General of the General Council, emphasizing the importance of enhancing knowledge exchange and skill development in Islamic finance. He stressed the necessity of keeping pace with global advancements in this field to equip professionals, highlighting the human resource as the key factor in the success of institutions and societies in their development.
Dr. Atef Ismail, Training and Development Advisor at Icon Company, revealed that artificial intelligence contributes 8.2% to the local output in the economies of Bahrain and Qatar, while the GDP percentage in Saudi Arabia reaches 12% and 13% in the UAE.
He pointed out that technology significantly contributes to training development and employee skills enhancement in Islamic financial institutions, utilizing various media and digital platforms. Flexible and innovative learning experiences can be improved and provided by offering interactive tools and virtual reality for stimulating training experiences. Financial data analytics can provide precise insights into employee development and progress.
He emphasized the importance of training Bahraini employees in using modern technology, as it enhances their performance, productivity, efficient task execution, error reduction, work accuracy, customer interaction, and delivery of high-quality service.
Training employees yields various benefits, such as motivating them to increase productivity and professional advancement, acquiring new skills and experiences, enhancing the reputation and image of Islamic financial institutions in the banking and financial sector. Institutions investing in training their staff on modern technology are considered innovative and advanced.
Mention was made of using technology to enhance training experiences and employee development through utilizing artificial intelligence tools like “ChatGPT, Gemini,” facilitating experiential and applied learning on models such as financial statement analysis models, fostering diversity and inclusivity in learning, along with social and collaborative learning.
Dr. Lulwa AlMotlaq, the President of Golden Trust Training and Consulting, explained that technology plays a crucial role in various sectors and jobs in several countries like Bahrain, requiring regular monitoring. Accordingly, there are several benefits to using technology in remote training operations, such as improving access to information and knowledge, enabling learning anytime and anywhere, enhancing interaction, educational experience, and reducing training costs.
Efficient integration of technology helps achieve alignment with training objectives, ensuring user-friendly platforms, providing technical support and appropriate training, enhancing collaboration and knowledge exchange through online forums and communities. Several technological tools are being utilized, such as e-learning platforms, learning management systems, virtual reality, augmented reality, mobile learning apps, data analysis for progress tracking and evaluation, and learning through digital games.
Various challenges and different solutions were highlighted in the training process.Remotely, such as dealing with resistance to change, providing training and support, maintaining learner engagement, ensuring data privacy and security, implementing robust protocols and compliance measures, and assessing progress. Compliance and Legal Review Manager at Olive Bank, Majed Ghrisli, explained that the objectives of remote training include improving performance and increasing productivity, developing the capabilities and skills of employees in their field of work, and changing behavior and attitudes in work relationships.
He said that training in Islamic financial institutions using artificial intelligence works to enhance the effectiveness of training and boost learner engagement, in addition to providing customized and effective training experiences, analyzing data, and suggesting content. Artificial intelligence systems also enable the analysis of learner performance and preferences to create training programs tailored to their needs, such as analyzing user data and identifying learner preferences, and recommending customized educational content for each learner. The system also aims to adapt, organize, track progress, continuously refine, and create simulation data to help learners develop their skills in a safe and secure environment.
