business bites 54 March 2022 www.bahrainthismonth.com The Bahrain Institute of Banking and Finance (BIBF) has announced the launch of three new professional qualifications for HR, learning and development professionals, awarded by the Chartered Institute of Personnel and Development (CIPD), the professional body for HR and people development. Acting Head of Leadership and Management Centre, Sana Haji says: “We are excited to launch the new CIPD qualifications which will equip HR practioners with the skills and tools needed to thrive in the changing world of work. The streamlined qualifications will help us to achieve our vision of supporting professionals throughout their whole career, from student to senior practitioner.” The CIPD’s new qualification structure has been streamlined to three distinct levels to suit professionals at different points in their career – Level 3 (Foundation level), Level 5 (Associate level), and Level 7 (Advanced level) – with the BIBF being the only local training provider of this level in the region. The completion of Level 7, which is equivalent to a postgraduate degree, can lead towards obtaining the Chartered Member (MCIPD) or Chartered Fellow (FCIPD) status. FOCUSING ON THE EVOLVING HR LANDSCAPE BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions services, has announced a massive increase of online payment transactions in 2021. A total of 159,321,294 payments were made through the Electronic Fund Transfer System (EFTS) increasing by 164 percent with the total value exceeding BHD20 billion for the year 2021 in comparison to BHD16 billion in 2020 - an increase of 26 percent. Fawri + transactions totalled 140,580,028 over all channels, increasing by 196 percent and exceeded BHD4.4 billion in total value in 2021 compared to BHD2.2 billion in 2020, which is an increase of 97 percent. Fawri + transactions over BenefitPay only increased by 109 percent reaching a total value that exceeded BHD4.1 billion for the year 2021, compared to BHD1.9 billion in 2020. A total of 9,629,924 Fawri transactions were made showing an increase of 11 percent, with their total value exceeding BHD15.2 billion for the year 2021 compared to BHD13.4 billion for the year 2020, an increase of 14 percent. A total of 9,111,342 Fawateer transactions were conducted, which is an increase of 117 percent. Their total value exceeded BHD640 million for the year 2021 compared to BHD463 million for the year 2020, an increase of 38 percent. Fawateer transactions over BenefitPay increased by 158 percent with a total value exceeding BHD122 million for the year 2021 compared to BHD60 million for the year 2020 - an increase of 102 percent. Over all, Electronic Fund Transfer System (EFTS) transactions through the ‘BenefitPay’ application increased by 111 percent with a total value exceeding BHD4.8 billion in 2021 versus over BHD2.3 billion in 2020. BENEFIT Reports BHD20 Billion Worth of EFTS in 2021 Volume Value BenefitPay Know Your Customer eKYC Transactions 46M 1.9B 2.8M 60M 401K 254M Jan-Dec 2020 4.1B 7.4M 122M 401K 572M Jan – Dec 20 No. 264K Jan – Dec 21 No. 264K Jan – Dec 20 Verifications 73K Jan – Dec 21 Verifications 204K Jan-Dec 2021 47M 140M Volume BHD2.2B BHD4.4B Value 8.7M 9.6M Volume BHD13B BHD15B Value 4M 9M Volume BHD463M BHD641M Value 60M 159M 16B 20B Growth 196% Growth 97% Growth 117% Growth 38% Growth 11% Growth 14% Bahrain Credit Reference Bureau BCRB Requests Electronic Fund Transfer System (EFTS) 2020 - 2021 140M
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