Dubai Financial Market secures 74% localization in 2008
Dubai Financial Market company, the first regional exchange to go public and the leading Islamic financial market globally, markedly achieved success through its human resources department to meet development and localization policies. Its achievement is a result of applying a set of mechanisms that ensure the best ways to attract, retain and develop workforce through a variety of training programs.
Dubai Financial Market company recorded a localization rate of 74% by the end of 2008, while the percentage of UAE nationals occupying the top management positions is 100%, making it one of the most successful institutions in the UAE addressing the human resources development and localization. DFM’s efforts reflects the company’s acknowledgment of the importance of these policies which are synchronized with the UAE government and leaders directions.
Essa Kazim chairman of Dubai Financial Market company said: "The development of human resources in general and UAE Nationals in particular is at the forefront of our priorities. Over the past few years, the company has become the employer of choice for many of the UAE nationals, especially in light of the company’s drive to develop their skills and give them the opportunity to improve. Having a 100% localization rate for the top management is a clear indication of the effectiveness and success of our policies ".
Kazim added: "Last year, DFM adopted a new organizational structure that gives greater importance to the development of human resources. At DFM we consider the satisfaction of staff and the investment in people through training and development a major focus of our ongoing work, and for this purpose we have established a new department, the human capital, which reflects our firm commitment to human resources as a main pillar in the development of institutions and the economy in general."
Taybah Abdul Mannan, Assistant Vice President - Head of the Department of human capital said: "The Department is seeking to achieve its main objectives through the use of special criteria for the selection and development of human resources, this is achieved through training and attracting high caliber employees to fill the vacancies. The Department constantly updates regulations and procedures to ensure the highest quality standards and achieving the highest levels of satisfaction. During 2008 DFM attracted18 new staff members, taking the percentage of UAE nationals to 74%. the adoption of the new organizational structure created a number of supervisory and administrative positions which were an opportunity to skillful staff to develop and promote".
"DFM maintains a training policy to enhance the efficiency and productivity of staff through the implementation of carefully designed annual training plan. During 2008 more than 145 staff were trained which equated 3400 training hours by taking part in a variety of internal and external courses in addition to the conferences and specialized workshops", She added.
Dubai Financial Market continued its firm commitment to offer training opportunities to students through annual summer training program. The 2008 program was successful by attracting more than 21 students who have been trained in various departments of the market. DFM welcomed 17 students from universities and colleges as part of their practical training as well.