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 ...

Both, Russia and China, have intensified efforts in recent years to settle bilateral trade not in US dollars, but in rubles and yuan. Gold is considered important by both countries.
The issue of when a global reserve currency begins or ends is...
Janet Yellen
As the Fed starts unwinding the stimulus it provided to snap...
Norway’s Sovereign Wealth Fund  Hits $1 Trillion
The Norwegian sovereign wealth fund, the largest in the world...
Ukraine Raises $3b in First Bond issue
Ukraine has raised $3 billion in its first sovereign bond...
Kazakh Economy Grows by 4.3%
The economic growth in Kazakhstan was at 4.3% since the...
London, Frankfurt and Paris fluttered between flat to slightly lower after eight days of gains.
Record-high world stocks paused on Tuesday and the dollar...
The IMF could write off its debt and lighten Greece’s burden.
“Beware of Greeks bearing gifts,” wrote the ancient Roman poet...
Hungary CB Rate on Hold
The Monetary Council of the National Bank of Hungary, or MNB,...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus