The UAE Financial Markets Association, UAE FMA, has announced the launch of the 'Emiratisation Optimal Performance Scheme' to encourage and support the local banking industry in implementing efficient nationalisation strategies.
The programme launch in Dubai was attended by VIP government authority 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.
Within the presence of various banks from UAE, the event tackled 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 FMA, 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 programme will cover career planning, training and coaching, corporate social responsibility and it will provide a yearly award for the best scoring 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.