UAE | Employment
Banking sector forges success story
Emiratisation rate in the banking sector has gone up eight-fold in the past 10 years with more than 10,000 Emiratis working in the sector.
- By Wafa Issa, Staff Reporter
- Published: 00:53 March 6, 2008
- Image Credit: WAM
- Dr Shaikh Sultan inaugurates the tenth national career fair, that offers employment opportunities to Emirati graduates in the banking and finance sector, on Wednesday.
Dubai: The Emiratisation rate in the banking sector has gone up eight-fold in the past 10 years with more than 10,000 Emiratis working in the sector, it was announced on Wednesday.
His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, inaugurated yesterday the 10th edition of the national career fair at the Sharjah Expo. It runs until Friday and offers an opportunity to Emirati graduates in the banking and finance sector.
While 1,278 Emiratis worked in the sector in 1997, today the number of Emiratis working is 10,566, said Ahmad Humaid Al Tayer, Chairman of the Human Resources Development Committee in the Banking sector.
He said the Emiratisation rate stands at 32 per cent for 2007, the same the previous year.
"Some 1,854 UAE nationals were employed in the banking sector during 2007, leading to the stabilising of the Emiratisation rate [though] more than 2,500 Emiratis have left the sector," said Al Tayer.
Reasons behind the departure of UAE nationals are either due to better career opportunities in other companies in the private sector or personal reasons such as marriage, as regards to female employees, Al Tayer said.
He said 228 UAE nationals are employed in the finance sector.
"This year we need to focus more on insurance companies as well as financial institutions as they have a lot of job opportunities to offer to UAE nationals," said Al Tayer, adding that the national career exhibition is a good opportunity for UAE nationals to apply for several job vacancies at the same time.
The exhibition brings together more than 80 financial institutions, and marks an increase of 30 per cent in the display space and the number of exhibitors from the past year, said the organisers.
Ahmad Mohammad Al Midfa, chairman of the Sharjah Chamber of Commerce and Industry, said Emiratis have come to rely on the exhibition for exploring employment venues in the banking and financial sector.
"The presence of leading financial institutions from all over the country will ensure that graduates need not hop from place to place to look for opportunities," said Al Midfa.
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