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ACCA in partnership with Bahrain Labour Fund and Ernst & Young

15 Oct 2007

An exciting new initiative which will result in hundreds of Bahraini citizens having the opportunity to pursue professional accounting and finance careers was launched on 1 October 2007.

The Bahrain Labour Fund, which invests in improving employability, job creation and social support, has announced that it will sponsor 650 Bahrainis to study ACCA’s professional ACCA Qualification or its Certified Accounting Technician qualification. This is the first time that such a large number of Bahrainis have been offered the opportunity to study for professional, rather than academic qualifications, as trends have shown that professional qualifications such as the ACCA go a long way towards helping individuals achieve their professional career objectives.

The initiative, part of the Accounting and finance skills gap project identified by the labour fund, will result in classes being held at the training centre of ‘Big Four’ accounting firm Ernst & Young, which is located in the Al Moayyed Tower in the Seef District. Students will have access to approved revision materials as well as case studies, extensive class work, simulation and formal instruction to prepare them for examinations.

The partnership between Ernst & Young and ACCA, which was launched in Bahrain in 2005, has already been successful. In the first year 147 candidates were studying for ACCA through Ernst & Young. In just two years that figure has more than doubled to a situation where 340 young Bahrainis are now involved in the programme.   

Speaking about the Labour Fund initiative, ACCA’s chief executive Allen Blewitt said: ‘ACCA is delighted to be involved in such an exciting and valuable project. This initiative has far-reaching potential, not only for the 650 Bahrainis who will have this exciting opportunity, but for employers who will have access to a greater number of finance professionals with a globally-recognised qualification available to add value to their businesses, and will help make the economy even more successful.’

Vice president for human capital development for Bahrain’s Labour Fund Dr. Ahmed Abdul Ghani said, ‘Our human capital development programmes will make Bahrainis more employable with value-added jobs through the blend of academic and professional qualifications together. 

‘We are confident that candidates who successfully fulfil the certification requirements will be offered distinguished careers in various economic sectors. The intake volume and nature of this key skills gap training project makes it a first of a kind where sponsorship is offered to acquire professional certifications rather than academic qualifications.’

Speaking on behalf of Ernst & Young about the project, Mr Deen Jayah, director of business community training said: ‘We are delighted to win this contract from the labour fund to train 400 new job entrants for the Certified Accounting Technicians (CAT) qualification and 250 graduates for the ACCA Qualification. Ernst & Young is an ACCA approved training provider and we are determined to train all Bahrainis under this Accounting & finance skills gap project to ensure that they receive professional qualifications to further enhance their positions in the workplace.’

The launch event for this initiative, which was held at Radisson SAS Hotel, Manama, Bahrain, was attended by approaching 100 representatives from Bahrain’s business community, the Bahrain Association of Accountants, government representatives, as well as key employers. Representing the organisations involved in this initiative and speaking at the event were Essa Al Jowder – partner of Ernst & Young; Dr. Ahmed Abdul Ghani, vice president for human capital development at the Labour Fund and Allen Blewitt, ACCA’s chief executive. Speaking at the launch event, Allen Blewitt said ‘The significance of this development cannot be overstated – and I want to pay tribute to the government here for its foresight in investing a considerable amount of money to ensure that Bahrainis have an opportunity to qualify as world-class professional accountants and accounting technicians.

‘This investment will put this state at the forefront not only of the region but has the potential to make Bahrain – already a prosperous banking and financial services centre – recognised as an international centre of excellence for accountancy, which will repay this investment many times.’

For more information about the Labour Fund and Ernst & Young (Bahrain) please click on the links under ‘see also’.