EIBFS Launches Special Committee to Support Emiratization in Banking Sector

Press release
Published January 30th, 2018 - 10:35 GMT
Emirates Institute for Banking and Financial Studies (EIBFS)
Emirates Institute for Banking and Financial Studies (EIBFS)

The Emirates Institute for Banking and Financial Studies (EIBFS) announced today that its recommendation to constitute a committee that effectively meet the requirements of banks searching for qualified national cadres - has been adopted by the National Qualifications Authority (NQA). Putting it into action, the NQA approved a resolution to establish the National Committee for the Development of Professional Standards, which aims to optimize study programs within the banking industry, with the strategic objective of supporting the UAE’s Emiratization drive as well as increasing the number of qualified personnel within the sector.

The National Committee for the Development of Professional Standards includes members from the UAE Central Bank, Emirates NBD, Commercial Bank of Dubai, Sharjah Islamic Bank, Union National Bank, as well as representatives from NQA and EIBFS. Abdulfattah Sharaf, CEO of HSBC Middle East, has been named chairman of the committee.

Speaking about the launch of the initiative, Mr. Jamal Al Jassmi, General Manager of EIBFS said: “By being at the forefront of successfully training UAE nationals at various levels, and collaborating with banks to conduct annual needs analysis that aim to increase the number of qualified nationals - we felt the need to establish a committee that would enhance the standards of the employees and the quality of the training. The establishment of this committee will help boost the capabilities of the banking sector by improving Emiratization levels in order to meet the new criteria outlined by the UAE Central Bank. The EIBFS will place special emphasis on providing banking employees with advanced training study programs in cooperation with our strategic partners, to increase the competitiveness among banks.”

He added: “As part of this priority, we will identify existing knowledge and skill gaps across functional departments in the banking sector. Students will be encouraged to enroll for programs that help them acquire further specialization, such as those required by the departments of risk management, credit management, IT security, and audit.”

The newly formed committee held its pilot meeting at EIBFS’ headquarters in Dubai Academic City. Expressing his thanks and appreciation to the committee members, Abdul Fattah Sharaf, Chairman of the National Committee for the Development of Professional Standards and CEO of HSBC Middle East, said that the committee will present proposals to upgrade the quality of training standards to meet the standards of the NQA.

He added: "Since the establishment of the country, there has been great attention placed towards Emiratization in the UAE at various official levels. The government has spared no effort to advance this initiative and have used all of the required resources available to achieve this goal. The Emirates Institute for Banking Studies in particular has gone a long way in supporting Emiratization - by training and qualifying nationals - thereby building on the nation’s talent pool.”

The banking sector has been a consistent leader in implementing Emiratization initiatives, and banks regularly support Emiratization policies within the country. Today, UAE national women play a significant role in the banking sector, representing 70% of the total national workforce.

Background Information

Emirates Institute for Banking and Financial Studies

Established in 1983, the Emirates Institute for Banking and Financial Studies (EIBFS) offers world class education programmes, training sessions and allied services in the area of banking and finance at its three state of the art campuses strategically located in Sharjah, Abu Dhabi and Dubai. Committed to the Emiratisation initiative, EIBFS supports UAE nationals by providing top-notch training facilities and encouraging career growth in the banking and financial services sector. 

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