54382
Emiratization Drive for UAE Banking Sector
Emiratization Drive for UAE Banking Sector

Emiratization Drive for UAE Banking Sector

Emiratization Drive for UAE Banking Sector

A new Emiratization initiative has been approved for the UAE’s banking sector and is scheduled to come into force in January, as the country looks to encourage more nationals into the private sector.
The directors of the UAE Banks Federation discussed the scheme for the banking and insurance sector which was recently approved by the UAE Cabinet, a statement said, Arabian Business reported.
The initiative is part of plans to accelerate the growth of the UAE banking sector in the face of an “increasingly complex regulatory environment and continuing slowdown in global economic growth”, the statement added.
The new strategy adopts a point-based system and banks are then rated and rewarded based on their performance across key parameters such as creation of job opportunities for UAE nationals, the training and development to develop Emarati skills, as well as their success in moving Emirati employees to fill senior-level positions.
Earlier this year, a survey showed that eight out of ten newly graduated UAE nationals still prefer working in the government sector despite efforts to encourage more to secure jobs in the private sector.
Flexible work hours, quality of medical services provided by the employer, the number of holidays, the flexibility of working from home and the overall work environment of the organization are some of the major factors that the graduates factor in while looking out for a job, the survey conducted by TASC Outsourcing revealed.

 

Short URL : https://goo.gl/WXteMj
  1. https://goo.gl/CRXxYS
  • https://goo.gl/pm72q9
  • https://goo.gl/EybSNF
  • https://goo.gl/v3aMHJ
  • https://goo.gl/2SdZ7V

You can also read ...

Cyber threats are ever-evolving.
The White House released a report that found that the economic...
Global Investors Target Zimbabwe Energy Sector
Zimbabwe has become a magnet for billionaire global firms such...
BSP said the planned RRR cuts are part of the bank’s financial market reforms.
The Bangko Sentral ng Pilipinas said it was reducing banks’...
FAO regional representative Julio Berdegue (R), and the deputy regional representative Eve Crowley.
Identifying territories where rural poverty is most entrenched...
Asean Labor Flows Hit a Wall
Tighter restrictions on foreign labor in Malaysia and Thailand...
The country’s GDP grew by 3.2% in 2017 but will  edge down in the coming years.
A report by the International Monetary Fund showed Sunday that...
Baby-boomers will start turning 75 or older in 2022, which is expected to trigger a surge in health care and nursing care costs.
Amid stalling inflation and ballooning government spending,...
Lagarde Backs Creation of European Monetary Fund
International Monetary Fund chief Christine Lagarde has no...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus