Welcome mat laid out for Emiratis choosing a career in banking

Banks are developing attractive working conditions and in-house training to help boost flagging Emiratistion levels in the sector.

The number of Emiratis working in the banking sector has plateaued in 2013, according to AbdulAziz Al Ghurair, the chairman of the UAE Banks Federation and chief executive of Mashreq. Mona Al MarzooqiShow more

Long and rigid working hours have often been considered one of the turnoffs for Emiratis considering a career within banking.

With that in mind, Standard Chartered recently introduced a part-time work scheme for UAE national employees. Under the programme, staff can request to move from working eight hours a day to a minimum of four, to pursue their education.

The step by the UK-headquartered bank is the latest example of how foreign and local lenders are thinking more creatively to attract and retain Emirati talent.

The renewed push is partly a reflection that numbers of Emiratis in the banking sector have plateaued over the past year or two. Writing in The National this month, Abdul Aziz Al Ghurair, chairman of the UAE Banks Federation, the industry body, and the chief executive of Mashreq, said the total number of Emiratis in the banking sector had slid to 11,700, after reaching a peak of more than 12,500 in 2012. This equated to an average Emiratisation level of 32 per cent, he calculated.

Most banks remain keen to bolster their Emirati staff levels further. In a fiercely competitive market with a large number of banks chasing a limited pool of Emirati talent with financial sector skills, more and more lenders are offering incentives such as Standard Chartered’s flexible working hours scheme to secure talent.

“There continues to be strong demand for Emiratis in the banking industry, partly the result of government mandates, but also for the skills and experience they possess,” said James Maidlow, a senior manager at Robert Half Financial Services, a recruiter with offices in the region. “Banks value the language and cultural competencies that Emiratis bring to the table, and in particular knowledge of Islamic finance.”

Most banks have focused on trying to bring in Emirati graduates straight from college or university. Several took part in this year’s Careers UAE in April, one of the biggest annual Emirati recruitment drives. And Standard Chartered organised its first ever UAE national job fair last month.

Dubai-headquartered Commercial Bank International (CBI) has a dedicated training programme for young Emiratis. This month it marked the graduation of 19 staff from the training scheme, especially tailored to equip young Emiratis with the skills to progress their careers at the bank. Since 2007, the programme has graduated 166 Emiratis. The bank plans to grow its Emiratisation level from 35 to 40 per cent by the end of the year.

“Building local national talent in the fast-growing financial services industry has always been a key strategic priority for CBI,” said Mohammad Sultan Al Qadi, the chairman of CBI.

The majority of local and international banks were focusing on recruiting Emirati graduates to groom them from junior to midlevel positions, said Rachel Debil, a banking specialist and recruitment manager at Iris Executives, a UAE-based recruitment company specialising in hiring Emiratis. Some were even providing sponsorship for students to complete their degrees on the understanding they would join the bank upon graduation, she said.

“Fresh graduates are a big part of the banking sector’s recruitment strategy,” added Ms Debil.

As junior national staff mature, more and more will be able to step up to senior management levels.

For now, however, recruiters say many banks continue to rely on headhunting services to help them find external candidates to fill the most senior roles.

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