Career in banking

The best things in life are free
But you can keep it …
Now gimme money (that’s what I want)
That’s what I want …

But your lovin’ don’t pay my bill …

Money don’t get everything it’s true.
What it don’t get I can’t use.
So gimme money (that’s what I want)
A little money (that’s what I want)

The Beatles perhaps may not have been talking about banking or for that matter banks, but at the end of the day, whether we like it or not, most of the time — money moves the world.

You need money to eat, clothe yourself, buy shelter or even merely exist. Makes you wonder whether money is probably on a par with air and water as being necessary for survival.

The days of bartering a donkey for 10 sacks of rice are no longer around and we can bid the idea goodbye for good. Today it is money and more money, be it paper or plastic.

Surely a career involving money cannot be anything short of being spectacularly lucrative.

Keeping this monetary appeal in mind, Notes went on a paper trail and discovered that banking had a big fun and adventure factor that is usually hidden by the dread of wearing pinstripe suits.

Banking academy
The Belgian Bankers Academy opened its doors recently at the Dubai Knowledge Village. It is an international training and consulting division of the Belgian Banker’s Association. The Academy offers an exhaustive curriculum of training and education in the different aspects of the banking sector.

BBA offers a variety of training programmes that are designed to meet the dynamic needs of organisations, professionals at all levels and new graduates looking to further prepare themselves for entry into the highly competitive banking industry.

In addition, BBA has several programmes designed to target those in other industries who are seeking valuable knowledge concerning banking.

Leo Delcroix, Executive Director of International Development for the organisation, said: “The whole economics of the world makes banking a key industry. A lot of people think of it merely in terms of personal banking, serious suits and nine-to-five jobs.
“This is true for certain divisions of the field, there is much more to banking than a personal banker — the person people interact with in a bank.”

In reality it is an exciting field filled with images of yachts in South America, summer homes in Italy and skiing holidays in St Tropez. You work hard, you play hard.

But there is a small hitch; you have to possess an innate ability to crunch numbers in your head. In a matter of minutes you have to decide whether merging, bidding or saying goodbye will give a higher benefit.

“You have to be good in finance and the opportunities are limitless from stock exchange drama to boardroom skirmishes,” Delcroix said.

If you don’t have a taste for 16-hour days, you can downsize your ambitions and still have fun with banking. One of the most interesting areas is “troubleshooting for ailing firms”. Helping companies from going under, saving jobs or helping many to achieve a nice nest egg for retirement. You do not have to become a Gordon Gekko or turn into Bud Fox (Wall Street 1987); you can still feel the thrill, have a life and laugh your way to the bank.

Banking and the UAE
Dr Abdul Rahman Al Awar, Director General of The National Human Resource Development and Employment Authority (Tanmia), said: “Banking is a field that students from the UAE should actively look into.

“The UAE is growing rapidly, many multi-nationals are coming in, and as a banker you may have to handle a Dh10 million project or Dh3 billion pipeline project. The possibilities are numerous.
“It is a highly lucrative career option and another area is Islamic banking, the demand for this is growing.”

The advantage of gaining a thorough knowledge of the world of finance through banking is that it is an incredible tool that will help any individuals wanting to set up their own business eventually.

He said: “It doesn’t matter whether you are male or female, banking suits either gender. It caters to persons who like to spend their own time with numbers or have a high level of interaction with people.”

Women can set up a consultancy from home and become entrepreneurs — a career choice that blends in with the social, cultural and traditional demands of society in the UAE.

Certificate programmes
The certificate programmes offered by the Belgian Bankers Academy are designed for individuals seeking a better understanding of the banking environment where they are already employed and/or for those individuals seeking skills for entry management positions within the banking industry.

These programmes provide specialised training for banking careers that are not addressed by general certificate programmes at many institutions.

The aim is to provide participants with sufficient banking knowledge so that they can be further trained on the job in the specific units or departments.

A control examination must be passed before certification is given.

The course of corporate finance is tailor-made for people holding a bachelor’s degree in economics or business administration but who need training for their professional career as a financial analyst in the broadest sense.

Today this programme has become a national reference within the Belgian financial society.

The training programme will be followed by a facultative examination, which if taken successfully, will result in a certificate.

Information Courtesy: www.bbacademy-dubai.org

Dubai Islamic Bank signs academic cooperation agreement with Dubai Men’s College
Dubai Islamic Bank (DIB) signed an agreement with the Dubai Men’s College to offer scholarships to students studying banking and finance.

The move is part of the bank’s strategy to develop the next generation of Islamic banking high-flyers, and attached to the scholarships will be the offer of work experience.

The agreement to provide the scholarships was signed at the bank’s headquarters by Sa’ad Abdul Razzak, Deputy Chief Executive Officer of the bank, and Dr William Vega, Director of Dubai Men’s College.

Razzak said: “The signing marks an important stage in the development of the banking sector in the UAE.

“This opens up opportunities for some of the country’s brighter students to be fast-tracked through the system and become part of an industry elite who will guide the future. We believe that by opening up access to the industry for some of our top scholars we are helping to sustain the high standards we have sought to encourage.”

Obaid Al Shamsi, head of Emiratisation Committee at DIB, said: “The bank enjoys a strong and concrete relationship with the Higher Colleges of Technology, and is working with us to ensure that the educational outputs of this college satisfy the labour market’s requirements.

“This enables the graduates to work within several sectors, especially the banking and finance sector. The academic programme and teaching method adopted by the higher technical college cover the theoretical and practical aspects of the work. This serves to minimise the training time in the workplace.

Dr Vega said: “We thank DIB for this initiative which is an example of genuine cooperation between private institutions and academic authorities. We have worked hard over the past years to increase the level of collaboration and we hope that DIB’s initiative will encourage more busines