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HRDC-BS launch plan to implement Emiratisation in banking and insurance industries

June 8, 2014

The announcement came during a recent HRDC meeting headed by H.E. Humaid Mohammed Al Qatami, Minister of Education and Chairman of HRDC. The meeting was attended by committee members.

H.E. Al Qatami said UAE's remarkable social development and economic growth, which currently ranks high in global competitiveness, are clear indications of the country's success and progress in terms of complying with the vision and directives of wise leadership and their full support to the financial and banking sector and in terms of meeting all relevant policies and regulations.

The HRDC also announced the launching of the Banking Leadership project as part of its commitment to build a generation with extensive skills and capabilities. It is hoped that the skills learnt will enable individuals to undertake high management positions in the future. Recent industry studies show that banking institutions still lack the presence of Emiratis. The number of Emirati senior administrative officials is less than five per cent of the total number of nationals working in the banking industry.  Accordingly, HRDC collaborated with international academic institutions for the implementation of the integrated Banking Leadership project, which is poised to produce as many as 400 graduates annually under the highest standards and best international practices.

H.E. Al Qatami added that the committee discussed a variety of topics during the meeting, namely the recent decision to apply Emiratisation in the banking sector; and adoption of the list of members and work plan of the executive committee and committee of studies and research. He assured that the HRDC will continue to follow up on the subject of Emiratisation in banks and insurance companies as well as on relevant resolutions.

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Source: CPI Financial

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