Citi has launched a global tech hub in Bahrain, the region’s first of its type, with the goal of hiring 1,000 coders over the next decade.
According to a Citi executive, the center was established in collaboration with Tamkeen, a government-funded labor fund, and Bahrain’s Economic Development Board (EDB), which are both investing.
Citi will hire at least 100 workers in coding-related areas per year for the next ten years, according to the plan.
According to Ala’a Saeed, Citi FX’s global head of electronic platforms and distribution, the new personnel will first work on two of the bank’s primary platforms, Citi Velocity and Citi FX Pulse.
Tamkeen will subsidize a portion of salaries and cover training costs both locally and internationally, according to Tamkeen Chief Executive Hussain Mohammed Rajab.
“Choosing Bahrain to create our two flagship systems is a big validation of the talent and caliber of people we’ve found here,” says Saeed.
Bahrain, where Citi has been headquartered for 50 years, is attempting to reclaim its status as a regional banking and business center by positioning itself as a financial technology hub for the Middle East and North Africa.
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