25 citizens inspect the risk departments in banks
Al-Markazi: Training Emirati cadres to lead the banking sector
11 thousand male and female citizens work in banks and insurance companies.
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Khaled Mohammed Blindness: "We have worked to provide Emirati employees with the necessary skills and tools to enable them to occupy the highest positions."
The Central Bank aims to employ 7,500 Emirati cadres in the sector as part of its nationalization plans by the end of 2022. Archives
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The Governor of the Central Bank, Khaled Mohamed Balama, confirmed that the bank attaches great importance to its employees, especially Emiratis, as it is keen to train national cadres to be fully prepared to lead the banking sector in accordance with the most prominent international practices and standards.
This came as a response to the Central Bank’s announcement yesterday that 25 of its citizen employees have been granted an approved certificate that enables them to inspect and supervise the risk departments in banks.
Al-Blinda told Emirates Today that through the executive certification program for risk-based supervision specialists, Emirati employees were provided with the necessary skills and tools that would enable them to occupy the highest positions in the field of banking inspection and supervision.
The latest initiative
In detail, the Central Bank announced yesterday that it granted 25 of its national employees an approved certificate that enables them to inspect and supervise risk departments in banks, through the latest initiative launched by the bank in cooperation with the Irish Banking Institute.
The Central Bank added that the initiative comes as part of its efforts to focus on Emiratisation, building a knowledge-based economy, and supporting the national agenda through designing a sustainable program aimed at building and strengthening the skills of the Banking Supervision Department inspectors, who are responsible for the inspection tasks of licensed financial institutions in the country. It also supports the implementation of a risk-based stewardship framework in line with international best practices.
50 citizens
According to the Central Agency, the program includes information to enhance the necessary skills of inspectors in the areas of financial risks, market behavior risks, confronting money laundering and combating terrorist financing, and its duration is three weeks.
"We aspire, during the first quarter of 2022, to prepare and qualify 50 other Emirati employees to obtain the executive certification for risk-based supervision specialists," he said.
The Central Agency stated that the program provides the necessary information and skills to inspectors to exercise their responsibilities, as it covers financial risks, market behavior risks, countering money laundering and combating terrorist financing.
Training
"We congratulate the graduates of the Executive Certificate Program for risk-based supervision professionals who have demonstrated the highest levels of dedication to work during the training period, and we appreciate the extent of their desire for professional and personal development at the same time," said the governor of the Central Bank, Khaled Mohamed Balama.
"It is not the first time that the Central Bank attaches great importance to the development of its employees, especially the Emiratis, as we are always keen to train Emirati cadres to be fully prepared to lead the banking sector in accordance with the most prominent international practices and standards," he added.
cooperation
Blindedly, he continued: “We are pleased in the Central Bank to cooperate with the Irish Banking Institute in the program, which has yielded valuable results that enhance the skills of graduates during their careers in the Central Bank in particular, and in the banking sector in general. And international institutes to design professional programs, through which we seek to provide the best educational opportunities for Emirati talents.
“We have worked, through the Executive Certificate Program for risk-based supervision specialists, to provide Emirati employees with the necessary skills and tools that enable them to occupy the highest positions in the field of banking inspection and supervision,” he said, noting that the efficiency of supervisory responsibility must be accompanied by continuous training.
«Banking and Insurance»
In addition, the "Central" revealed that the total number of Emirati employees in the banking sector and insurance companies recorded 11 thousand and 85 citizens by the end of last year.
He explained that the total number of Emirati female and male employees in the banking sector in the country amounted to 9902 employees by the end of 2020, representing 29.2% of the total number of bank employees, while the percentage of citizens responsible for implementing vital roles reached 27.2% of the total number of Emiratis working in banks, adding : “We aim to employ 7,500 Emirati cadres in the banking sector as part of our nationalization plans by the end of 2022.”
The "Central" indicated that the total number of Emirati female and male employees in the state's insurance sector reached 1183, equivalent to 12.7% of the total sector employees.
He indicated that he is currently working, in cooperation with the Federation of Emirates Banks, on preparing a plan to localize vital jobs in specialized areas such as risk, credit, auditing and compliance.
Localize «central»
The Central Bank stated that the percentage of total Emirati citizens working in it reached 65% (excluding the Insurance Authority), with the percentage of males reaching about 38%, and the percentage of females about 26%.
The percentage of total Emirati citizens working in the Banking Supervision Department was 56%.
8.5 billion dirhams increase in government deposits within a month
The balance of government deposits with banks increased, during last March, by 8.5 billion dirhams, after nearly six months of declines, reaching 278.9 billion dirhams at the end of the first quarter of this year, compared to 270.4 billion at the end of last February, according to data issued by the Central Bank.
The data indicated that certificates of deposit recorded 147.4 billion dirhams at the end of last March, compared to 136 billion dirhams at the end of February, with a monthly increase of 11.4 billion dirhams.
The increase in the balance of certificates of deposit indicates the abundance of liquidity in the banking sector, which pushes banks to buy certificates of deposit from the central bank in exchange for interest.
The central bank’s total foreign assets rose to 392.4 billion dirhams at the end of March, compared to 385.2 billion at the end of February.
Training programs at Al-Markazi
Training and development programs in the Central Bank aim to achieve growth in the career path of employees.
The "Central" stated that the total hours of training during the first quarter of this year amounted to about 3000 hours of training for the bank’s employees in various fields, including professional and specialized programs, in line with institutional priorities.
The training programs also include a combination of field and theoretical training in several sectors, including (evaluation programs, supervision and supervision of banks, compliance with combating terrorist financing and money laundering, and financial technology).
• A plan to localize vital functions in risk, credit, audit and compliance departments.
7500 jobs for citizens in the banking sector until the end of 2022.
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