Latest news with #SIB
Indian Express
3 hours ago
- Business
- Indian Express
Ministry of Skill Development rolls out SOAR programme to introduce AI learning in Classes 6 to 12
The Minister of State for Skill Development and Entrepreneurship, Jayant Chaudhary, today launched SOAR (Skilling for AI Readiness), a national programme designed to embed AI awareness and foundational learning among school students from Classes 6 to 12. SOAR includes three progressive 15-hour modules for students titled AI to be Aware, AI to Acquire, and AI to Aspire, and a 45-hour module for teachers titled AI for Educators. Addressing an event held in New Delhi, Minister Jayant Chaudhary said, India aspires to build the world's largest network of young learners actively engaging with artificial intelligence (AI). This vision includes school students not just learning about AI but applying it in meaningful, real-world contexts. He further added this would represent a significant step towards building a tech-driven, future-ready India. He also emphasised the government's long-term vision under 'Viksit Bharat 2047' and reiterated that India's skilling journey is central to national development. The programme covers topics like AI basics, generative AI, ethical use of technology, cybersecurity, and career pathways. The MSDE also operationalised KaushalVerse, the new Digital Enterprise Portal by the National Council for Vocational Education and Training (NCVET). The platform aims to streamline the regulatory framework in vocational training and make skill-related services more efficient and accessible. Another major launch was India's first and the world's largest outcomes-based development impact bond for skilling and employment—Skill Impact Bond (SIB). Led by MSDE through the National Skill Development Corporation (NSDC), the SIB has mobilised $14.4 million and aims to link skilling efforts more directly with employment outcomes The event also saw the signing of several Memorandums of Understanding (MoUs) aimed at strengthening public-private and international partnerships in skill development. One of the major agreements was signed between MSDE and the Government of the French Republic, focusing on collaboration in vocational education, joint curriculum development, Centres of Excellence, and cross-country training models. The Indian Institute of Information Technology (IIIT) Una will train 120 candidates in Electrical Technician and Software Programming roles under PMKVY 4.0, focusing on deep-tech and IT-ITeS sectors. IIT Hyderabad will train 280 candidates in Sangareddy, Telangana, in Electronics, Hydrocarbon, and Capital Goods sectors for job roles like CNC Programmer and AI–ML Engineer. IIT Patna will train 1,440 candidates in Patna, Bihar, across sectors like agriculture, green jobs, and healthcare. Job roles include EV Service Technician, AR/VR Engineer, and Elderly Caretaker. NIT Agartala will deliver training for 370 candidates in West Tripura in areas such as Automotive IoT, Bamboo Work Artisan, and AI–Data Science. RRU will conduct training in Gandhinagar, Gujarat, for 240 candidates in job roles ranging from Yoga Wellness Trainer to Fire Safety Officer, combining digital and wellness-oriented skills. NSTI Mumbai signed an MoU with ICICI Foundation to support rural incubation and entrepreneurship through vocational training and project-based skilling. A series of Flexi MoUs were signed under the PMKVY institutional strengthening strategy with companies such as Dixon Technologies, Microsoft, and HCL, aimed at customising training in line with current industry requirements.
Indian Express
4 hours ago
- Business
- Indian Express
Jharkhand leads in enrolment, overall gender pay disparities persists: Insights from India's first skill impact bond
As India pushes to make its youth more employable through targeted skilling programmes, new data from the Skill Impact Bond (SIB) results report highlights notable regional and gender-based trends. Launched in 2021 by the Ministry of Skill Development and Entrepreneurship (MSDE), the National Skill Development Corporation (NSDC), and an international coalition of funders, the SIB reveals that Jharkhand has the highest share of enrolled trainees. Moreover, women continue to dominate enrolment in the apparel sector; however, gender-based pay disparities persist — despite improvements in female retention and placement rates. Backed by a $14.4 million outcome fund, the programme targets 50,000 youth, with at least 62 per cent being women, aiming to equip them with skills and link them to jobs in retail, logistics, healthcare, and other high-growth sectors. The focus has been on outcomes like job placement and retention, rather than just training completion, and on reaching vulnerable youth aged between 18 and 40, with a monthly household income under Rs 25,000. The report highlights that across four evaluated cohorts, Jharkhand emerged as the top contributor, accounting for 27 per cent of the total enrolment, followed by Uttar Pradesh (9.1 per cent), Maharashtra (8.7 per cent), Odisha (8.3 per cent), and Telangana (6.7 per cent). Trainees — mostly unmarried and in their early 20s — tend to have an education level of Class 10 or 12. Women form more than 70 per cent of the total enrolments across cohorts. Their predominant area of training has been the apparel sector, though increasing numbers are also moving into IT-enabled services (ITeS), retail, and BFSI (banking, financial services, and insurance). Male trainees are mostly concentrated in construction and automotive sectors, but are also shifting to ITeS and retail over time. For male trainees, the construction sector is the dominant sector of enrolment although, like the apparel sector for females, its share decreases over time. The IT-ITeS sector also demonstrates increasing enrolment of male trainees. The automotive, BFSI, capital goods, retail, and telecom sectors also contribute to this distribution of enrolled male trainees. Across cohorts, the 'Others' category includes sectors such as apparel, healthcare, logistics, and tourism & hospitality, each accounting for less than 5 per cent of the total enrolled male trainees. Female trainees have shown a steady improvement in employment outcomes across the four evaluated cohorts. Certification rates among women increased significantly, reaching 92 per cent by Cohort IV. Their job placement also saw an upward trend, rising to 81 per cent. Perhaps most notably, three-month job retention among female trainees improved from 48 per cent in the first cohort to 66 per cent in the fourth, equalling the retention rate recorded for male trainees. Interestingly, while male trainees maintained high certification (90–94 per cent) and stable placement rates (80–84 per cent), their employment levels declined sharply — from 68 per cent in Cohort 1 to 34 per cent in Cohort 4, due in part to many opting for further studies. In contrast, female employment grew from 35 per cent to 48 per cent, and self-employment rose from 6 per cent to 14 per cent, particularly among those trained as sewing machine operators — indicating rising entrepreneurial ambition among women. Despite growing parity in placement and retention, male trainees continue to out-earn their female counterparts. Male median monthly salaries ranged from Rs 12,400 to Rs 15,700, while females earned between Rs 11,500 and Rs 13,000. The gap remains even as both groups show strong skill acquisition and workplace retention. The Skill Impact Bond marks a significant shift in India's approach to skill development — from output-based to outcome-driven models. It encourages innovation, risk-taking capital, and gender-responsive delivery. The Skill Impact Bond is being implemented over eight cohorts, with each cohort running for six months from mobilisation of candidates, to enrolment, skills training, and certification of skills by a third-party agency. Trainees in the programme are selected based on a broad eligibility framework, with a focus on vulnerable and disadvantaged populations.
Al Bawaba
7 days ago
- Business
- Al Bawaba
Sharjah Islamic Bank reports a net profit of AED 697.2 million for the first half of 2025, a 25% increase
Sharjah Islamic Bank (SIB) achieved a strong financial performance during the first half of 2025, achieving a net profit after tax of AED 697.2 million, an increase of 25% compared to AED 558.7 million in the first half of from investments in Islamic financing and sukuk grew by AED 113.6 million, or 6.4%, reaching AED 1.9 billion in the first half of 2025, compared to AED 1.8 billion in the first half of 2024. Meanwhile, total distributions to depositors and Sukuk holders amounted to AED 1.1 billion, compared to AED 1.0 billion, reflecting the Bank's stability in net income and its ability to balance financing growth with an equitable profit distribution mechanism that aligns with Sharia principles. It also demonstrates SIB's resilience in maintaining consistent income even in the face of volatile funding costs and competitive pricing pressures in the Islamic Bank continues to emphasize the diversification of its revenue base, as evidenced by a significant growth in the net fee and commission income which rose sharply by 53.5% to AED 276.0 million in the first half of 2025, up from AED 179.8 million in the first half of 2024. As a result, the Bank recorded total operating income of AED 1.2 billion, an increase of AED 133.5 million, or 13.0%, compared to AED 1.0 billion in the same period last year. This upward trend reflects SIB's ability to maintain stable operating income in a challenging economic environment while effectively capitalizing on opportunities across various economic general and administrative expenses for the first half of 2025 amounted to AED 405.4 million, an increase of 16.9% compared to AED 346.9 million in the same period of 2024. This rise is mainly attributed to the Bank's continued investment in human capital, technology, and operational infrastructure to support business expansion and improve customer service. Despite the increase in expenses, the Bank's net operating income before impairment provisions reached AED 757.2 million, compared to AED 682.1 million in the first half of 2024, reflecting a 11.0% increase, which shows the Bank's ability to absorb cost pressures while maintaining stable profitability, reinforcing its operational efficiency and sound financial Bank recorded a net reversal of impairment provisions of AED 9.3 million during the first half of 2025, compared to an impairment provision of AED 67.3 million in the first half of 2024, reflecting a significant improvement in the quality of the financing portfolio as well as prudent credit risk management and successful recovery efforts. This positive development contributed significantly to the 25% increase in profit after tax, which reached AED 697.2 million, compared to AED 558.7 million in the same period last year. These results confirm the effectiveness of the Bank's risk mitigation strategies and its commitment to preserving asset quality amid a changing global economic the balance sheet side, total assets increased by AED 5.5 billion, or 6.9%, to reach AED 84.7 billion as of June 30, 2025 compared to AED 79.2 billion at the end of the previous year. This is backed by increase in total customer financing to AED 43.0 billion, compared to AED 38.1 billion at the end of 2024, marking a 12.9% deposits amounted to AED 52.7 billion, compared to AED 51.8 billion at the end of the previous year. As a result, the financing to deposit ratio stood at 81.5%, compared to 73.6% at the end of the previous continued to maintain a strong liquidity ratio of 21.1% of total assets, amounting to AED 17.8 billion, compared to 21.6% at the end of the previous year. The return on assets and return on equity also increased, reaching 1.70% and 14.88%, respectively, compared to 1.44% and 12.76% for the previous year.
Zawya
15-07-2025
- Business
- Zawya
Sharjah Islamic Bank reports net profit of $190mln for first half of 2025
Sharjah Islamic Bank (SIB) achieved a strong financial performance during the first half of 2025, achieving a net profit after tax of AED697.2 million, an increase of 25% compared to AED558.7 million in the first half of 2024. Income from investments in Islamic financing and sukuk grew by AED113.6 million, or 6.4%, reaching AED1.9 billion in the first half of 2025, compared to AED1.8 billion in the first half of 2024. Meanwhile, total distributions to depositors and Sukuk holders amounted to AED1.1 billion, compared to AED1.0 billion, reflecting the Bank's stability in net income and its ability to balance financing growth with an equitable profit distribution mechanism that aligns with Sharia principles. It also demonstrates SIB's resilience in maintaining consistent income even in the face of volatile funding costs and competitive pricing pressures in the market. Sharjah Islamic Bank continues to emphasise the diversification of its revenue base, as evidenced by a significant growth in the net fee and commission income which rose sharply by 53.5% to AED 276.0 million in the first half of 2025, up from AED179.8 million in the first half of 2024. As a result, the Bank recorded total operating income of AED1.2 billion, an increase of AED 133.5 million, or 13.0%, compared to AED1.0 billion in the same period last year. This upward trend reflects SIB's ability to maintain stable operating income in a challenging economic environment while effectively capitalising on opportunities across various economic sectors. Total general and administrative expenses for the first half of 2025 amounted to AED 405.4 million, an increase of 16.9% compared to AED 346.9 million in the same period of 2024. This rise is mainly attributed to the Bank's continued investment in human capital, technology, and operational infrastructure to support business expansion and improve customer service. Despite the increase in expenses, the Bank's net operating income before impairment provisions reached AED757.2 million, compared to AED682.1 million in the first half of 2024, reflecting a 11.0% increase, which shows the Bank's ability to absorb cost pressures while maintaining stable profitability, reinforcing its operational efficiency and sound financial management. The Bank recorded a net reversal of impairment provisions of AED 9.3 million during the first half of 2025, compared to an impairment provision of AED67.3 million in the first half of 2024, reflecting a significant improvement in the quality of the financing portfolio as well as prudent credit risk management and successful recovery efforts. This positive development contributed significantly to the 25% increase in profit after tax, which reached AED697.2 million, compared to AED558.7 million in the same period last year. These results confirm the effectiveness of the Bank's risk mitigation strategies and its commitment to preserving asset quality amid a changing global economic environment. On the balance sheet side, total assets increased by AED5.5 billion, or 6.9%, to reach AED 84.7 billion as of June 30, 2025 compared to AED 79.2 billion at the end of the previous year. This is backed by increase in total customer financing to AED43.0 billion, compared to AED38.1 billion at the end of 2024, marking a 12.9% increase. Customer deposits amounted to AED52.7 billion, compared to AED51.8 billion at the end of the previous year. As a result, the financing to deposit ratio stood at 81.5%, compared to 73.6% at the end of the previous year. SIB continued to maintain a strong liquidity ratio of 21.1% of total assets, amounting to AED17.8 billion, compared to 21.6% at the end of the previous year. The return on assets and return on equity also increased, reaching 1.70% and 14.88%, respectively, compared to 1.44% and 12.76% for the previous year.
Sharjah 24
15-07-2025
- Business
- Sharjah 24
SIB reports AED 697.2 million net profit in H1 2025
Income from investments in Islamic financing and sukuk grew by AED 113.6 million, or 6.4%, reaching AED 1.9 billion in the first half of 2025, compared to AED 1.8 billion in the first half of 2024. Meanwhile, total distributions to depositors and Sukuk holders amounted to AED 1.1 billion, compared to AED 1.0 billion, reflecting the Bank's stability in net income and its ability to balance financing growth with an equitable profit distribution mechanism that aligns with Sharia principles. It also demonstrates SIB's resilience in maintaining consistent income even in the face of volatile funding costs and competitive pricing pressures in the market . Sharjah Islamic Bank continues to emphasize the diversification of its revenue base, as evidenced by a significant growth in the net fee and commission income which rose sharply by 53.5% to AED 276.0 million in the first half of 2025, up from AED 179.8 million in the first half of 2024. As a result, the Bank recorded total operating income of AED 1.2 billion, an increase of AED 133.5 million, or 13.0%, compared to AED 1.0 billion in the same period last year. This upward trend reflects SIB's ability to maintain stable operating income in a challenging economic environment while effectively capitalizing on opportunities across various economic sectors . Total general and administrative expenses for the first half of 2025 amounted to AED 405.4 million, an increase of 16.9% compared to AED 346.9 million in the same period of 2024. This rise is mainly attributed to the Bank's continued investment in human capital, technology, and operational infrastructure to support business expansion and improve customer service. Despite the increase in expenses, the Bank's net operating income before impairment provisions reached AED 757.2 million, compared to AED 682.1 million in the first half of 2024, reflecting a 11.0% increase, which shows the Bank's ability to absorb cost pressures while maintaining stable profitability, reinforcing its operational efficiency and sound financial management . The Bank recorded a net reversal of impairment provisions of AED 9.3 million during the first half of 2025, compared to an impairment provision of AED 67.3 million in the first half of 2024, reflecting a significant improvement in the quality of the financing portfolio as well as prudent credit risk management and successful recovery efforts. This positive development contributed significantly to the 25% increase in profit after tax, which reached AED 697.2 million, compared to AED 558.7 million in the same period last year. These results confirm the effectiveness of the Bank's risk mitigation strategies and its commitment to preserving asset quality amid a changing global economic environment . On the balance sheet side, total assets increased by AED 5.5 billion, or 6.9%, to reach AED 84.7 billion as of June 30, 2025 compared to AED 79.2 billion at the end of the previous year. This is backed by increase in total customer financing to AED 43.0 billion, compared to AED 38.1 billion at the end of 2024, marking a 12.9% increase . Customer deposits amounted to AED 52.7 billion, compared to AED 51.8 billion at the end of the previous year. As a result, the financing to deposit ratio stood at 81.5%, compared to 73.6% at the end of the previous year . SIB continued to maintain a strong liquidity ratio of 21.1% of total assets, amounting to AED 17.8 billion, compared to 21.6% at the end of the previous year . The return on assets and return on equity also increased, reaching 1.70% and 14.88%, respectively, compared to 1.44% and 12.76% for the previous year .
