Dubai: The number of UAE Nationals joining the banking sector has already overshot the targets set for 2022, with an intake of 723 Emiratis as against a target of 700 in the first six months. In the insurance sector, there is still some lag, with 90 new hires out of a target set for 300 Emirati appointments this year.
To raise UAE National presence in the financial services space, the UAE’s Central Bank ‘expanded the range of jobs allocated’, creating 200 new opportunities at exchange houses, finance companies and banks’ subsidiaries so far this year.
The Central Bank medium-term target is to hire 5,000 UAE Nationals into the financial sector through the next five years. This will be done in collaboration with Emirati Human Resources Competitiveness Council, the Emirates Institute for Banking and Financial Studies and the UAE Banks Federation.
For the year to date, 81.3 per cent of the targetted national employment has been achieved with another three months to go. “This achievement comes as part of the CBUAE’s Emiratisation strategy and is in line with the government’s vision for the next 50 years, which focuses on attracting Emiratis graduates and those with experience and competencies to work in banks, exchange houses, insurance, finance and fintech companies,” said a statement.