The UAE Financial Markets Association has announced a new Emiratisation Optimal Performance Scheme to encourage and support the local banking industry in implementing efficient nationalisation strategies.
The scheme was launched this week in the H Hotel in Dubai in the presence of VIP government representatives, UAE bank CEOs and senior finance professionals. The programme’s overarching aim is to help the industry work together to create a better future for the UAE.
The event focused on the importance of hiring and retaining nationals, the challenges facing Emiratisation, the quality of nationalisation processes as well as the positive effect of nationalisation in treasury and capital markets.
Mohammed Al Hashemi, Chairman of the UAE Financial Markets Association, said, “We identified a strong demand for a scheme of this kind here in the UAE after speaking to our UAE FMA members and we have observed that they want to employ more UAE nationals but are often experiencing numerous hurdles in doing so. In line with the UAE Vision 2021, we want to help increase Emiratisation in the banking sector specially treasury and capital markets department. Our aim at the UAE Financial Markets Association is to facilitate the connectivity between local and international financial bodies, as well as the sharing of ideas and knowledge and we believe this scheme will support our members in hiring qualified UAE Nationals.”
The launch comes off the back of last month’s 42nd ICA Conference, successfully organised by the UAE Financial Markets Association in collaboration with the Interarab Cambist Association (ICA), which welcomed hundreds of locals, regional and international bankers, traders, treasury managers and finance professionals to Dubai.
The programme will cover career planning, training and coaching, corporate social responsibility and it will provide yearly award for best scored bank. The implementation of the initiative will begin in January 2018, and will focus on the productivity of UAE nationals in the long term, working in the treasury and capital markets throughout the Emirates.
The UAE FMA was established in December 2011 with the aim of being the connection body between the financial sector in the UAE and the regulatory authorities, as well as to raise awareness on how important the treasury and global markets are. It is focused on providing certifications in the treasury field, providing fundamental or technical trainings, and it is the only body that provides ACI certified trainings. Furthermore, the Association builds a solid foundation of knowledge about the treasury market and prepares Emirati candidates to enter this field.