Money Exchange companies must recruit 15 percent Kuwaiti manpower

The Central Bank of Kuwait sent a circular to the Money Exchange companies on the need to raise the proportion of national manpower from 13 to 15 percent, and to implement this decision by July 20.

The Central Bank said that the decision was issued by the Public Authority for Manpower (PAM) which is responsible for estimating the required national manpower ratios in companies.

According to report, the Federation of Exchange Companies plans to address PAM with an official letter explaining the challenges facing its units in meeting the percentage of national manpower required.

The Federation will explain the weakness of the salary provided in this sector, and the nature of the work of exchange companies, which work in two shifts extended to 8 hours six days a week at the top of other challenges.

It is difficult for exchange companies to appoint Kuwaitis at a maximum salary of 300 dinars
per month, and to force them to double the salary which will put an additional burden on their work to the limits that will create new challenges that threaten the continuity of the sector in full and affect the business environment in Kuwait, Arab Times daily reported.

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