Mumtalakat signs BD6m Cadet Pilot Training Program agreement with Tamkeen and Bahrain development Bank
Bahrainis aged from 18-30 years old will now have the opportunity to acquire the highest standard of pilot license thanks to a new agreement announced today to create a Cadet Pilot Training Program between Bahrain Mumtalakat Holding Company (Mumtalakat), Bahrain Development Bank (BDB) and Tamkeen (Labour Fund).
Under the terms of agreement, pre-selected Bahraini graduates will be able to undertake internationally certified commercial pilot training programs by attending Mumtalakat's soon to be launched pilot and crew training subsidiary, Gulf Aviation Academy. BDB will offer loans to cadets and Tamkeen will pay the interest of the loans. With a total budget of more than BD6m from BDB and Tamkeen, the program aims to train 100 pilots starting July to qualify for their Airline Transport Pilot's License (ATPL).
Talal Al Zain, CEO of Mumtalakat, said:
"This is an excellent initiative for Bahrainis and for the nation's economy. By working together, Mumtalakat, BDB and Tamkeen can offer Bahraini graduates the opportunity to train for their commercial pilot's license in Bahrain rather than training abroad. It also offers a great opportunity for our new subsidiary, Gulf Aviation Academy, which will offer pilot and crew training to Bahrainis and airline personnel from across the region. Commercial piloting is a high value job and will generate significant social and economic benefits for Bahrain's economy and help to meet the growing demand for pilots regionally. This is the first step in a long-term government strategy to help develop Bahraini skills and talent for the aviation industry. We're delighted to be playing our part in supporting the nation's 2030 Vision."
Gulf Aviation Academy (GAA) (under formation), will be the first aviation academy to be based in Bahrain and will manage the program, which is scheduled to commence towards the end of 2009. The program will be Ab-initio ('from the beginning') to qualify Bahraini graduates with no previous flying experience and have demonstrated the unique qualities needed to be a commercial pilot and able to handle the intensity of the 16-19 month course.
'This agreement will enhance efforts towards training personnel for the aviation industry,' said Bahrain Development Bank (BDB) CEO Mr. Nedhal Al Aujan. 'It will also support and enhance the Pilot Training Financing Program launched by the BDB late 2007.'
Al Aujan added, 'The new programme offers financial support to Bahraini graduates who wish to join the Gulf Aviation Academy which is currently under development by Mumtalakat. Tamkeen will be responsible of paying the interest of the financing which reflects the integrated role of the three parties towards implementing this program.'
'The BDB is working to achieve closer integration between financing and training to develop the national human resource in line with the Bahrain Economic vision for 2030, by creating a network of supporting companies with the same goal, illustrated today's announcement. The programme will be particularly important in meeting the increasing demand of the commercial aviation sector and the demand for the pilot training financing program launched by the bank in 2007, which has now funded 100 cadets, having disbursed BD3.3m of funding,' he stated.
Abdulelah Al Qassimi, Chief Executive of Tamkeen, commented, 'At Tamkeen our focus is very much on developing the skills of Bahrainis and making them the employees of choice in the private sector. That is why we have till date invested more than BD43m in training them for a huge range of careers from nurses and aeronautical engineers to accountants, IT professionals and call-centre staff. To date more than 19,000 young Bahrainis are being targeted to benefit from Tamkeen's initiatives of which 6000 are in our current programmes.'
Al Qassimi added, 'Therefore we are proud to be part of this agreement with Mumtalakat and BDB, which is presenting this opportunity for Bahrainis to enter the field of aviation. We continually strive to increase awareness of our extensive project work with graduates and training, career progression and employment programmes that we run for young Bahrainis.'