UAE to increasing workforce in banking sector
UAE central bank directed the Emirati banks to recruit more Emirati citizens as its employees, to hit the annual target of 29,736 points. The banking regulator introduced the point system in 2017 to drive Emiratisation, which implies empowering UAE citizens with the necessary skills and training to get employment in the country’s key public and private sectors. The gulf nation has been promoting the recruitment of its own people over the people of other nationalities. The banks have also stretched their training budgets in order to add to the competencies of recruited young graduates.
The point system implies that the banks which appoint Emiratis in top management roles gain five points, while recruiting them for middle management roles puts three points in kitty, and for non-administrative roles, one point. Banks can also make two additional points by hiring an Emirati citizen in the investment and risks management sector.
On Saturday, the central bank issued a statement informing that most of its lenders were able to reach 28,050 points by the June end. The implies that the ‘other banks needs to increase the numbers of their Emirati work-force and ensure they undergo the necessary training in order to achieve the end of year target’.
The statement also mentioned about the meeting between the central bank governor, Mubarak Rashed Al Mansoori,and chairman of the UAE Banks Federation, Abdul Aziz Al Ghurair, where the two discussed about introducing measures to increase the profi-ciency ofthe Emiratis employed in the banks.
The central bank’s statement captured the essence of ‘Emiratisation’ which was also the centre point of the country’s Vice President and Ruler of Dubai, Mohammed bin Rashid’s, six-point agenda.
In his letter, Mohammed bin Rashid said, “There has been a growing number of com-plaints about Emiratisation and we hear them. And a decline in people’s satisfaction with regards to the officials dealing with this phenomenon. We are observing that. Providing jobs for Emiratis was and will remain our top priority. Our situation is like that of all countries in the East and the West. We stand firm in this season to follow up this is-sue and hold accountable those negligent. There will be new decisions as well, if Allah wills.”