Dubai: A plethora of opportunities await jobseekers in the finance sector today, as a number of banks in the UAE are on a hiring spree, a recruitment specialist said on Tuesday.
Those that have recently opened up vacancies to finance professionals include Standard Chartered, Abu Dhabi Commercial Bank, Mashreq and Emirates NBD, among many others.
Positions up for grabs are credit analyst, senior relationship manager, investment specialist, wealth manager and senior products sales manager. These vacancies are being offered to non-UAE nationals.
According to the latest Monster Employment Index, more jobs are available in the UAE today, with the country’s banks leading the pack and increase in hiring activity.
Job vacancies posted online for the UAE’s banking and finance industry rose by 38 per cent in March compared to a year ago.
“The banking and financial services industry are hiring the most,” Monster.com reported.
Sanjay Modi, managing director, Monster.com for India, Middle East, Southeast Asia and Hong Kong, attributed the increase in hiring to the strong economic recovery in the UAE.
"Ahead of Dubai Expo 2020, spending on infrastructure is accelerating, the government is pushing for the development of the non-oil sector and project financing is set to increase," Modi told Gulf News.
"The regulatory environment is also evolving, with the recent introduction of Al Etihad Credit Bureau, developed to increase trust in UAE's financial market and avoid a repeat of the crisis. All these positive developments help create more jobs - sourcing the right talent to help sustain growth is critical to the future development of the UAE's financial sector."
Despite the fall in oil prices, banks in the UAE continued to post positive growth. As of 2014, financial institutions in the country enjoyed better liquidity, while loans and advances increased by 7.9 per cent during the first ten months of last year alone.
Modi said that hiring for finance and accounting professionals is also rising. “Online job postings [for these professionals went up] 43 per cent for the UAE market and 67 per cent for the region,” Modi added.
Overall hiring activity in the UAE went up by 17 per cent.
Across the region, the demand for finance and accounting professionals increased by 67 per cent year on year.
There is also a lot of hiring going on in Saudi Arabia and Egypt, where job listings increased by 30 per cent and 28 per cent, respectively.
Saudi Arabia’s creative industry, in particular, is looking positive, with online recruitment for advertising, market research public relations, media and entertainment professionals increasing by 55 per cent in March 2015 compared to the same period last year.
“For those looking for a job in the creative industry, Saudi Arabia might be your best option,” advised Monster.com.
