It was approved by the Central Bank, headed by Mansour bin Zayed

5000 jobs for citizens in the banking and insurance sector by the end of 2026

Mansour bin Zayed while chairing the meeting of the Board of Directors of the Central Bank.

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His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and Chairman of the Board of Directors of the Central Bank of the United Arab Emirates, chaired the meeting of the Board of Directors of the Central Bank, which was held yesterday, at Qasr Al Watan in Abu Dhabi.

His Highness Sheikh Mansour bin Zayed Al Nahyan welcomed the attendees, and His Highness thanked the Central Bank for the efforts made by all its sectors and senior administrations, to maintain financial stability in the banking sector. The digital and green financial system, which the Central Bank is working to achieve at the highest levels of quality and in line with international best practices, to ensure the country’s leadership regionally and internationally in this field.

The meeting was attended by the Vice-Presidents, Abdul Rahman Saleh Al Saleh, Jassim Muhammad Al Zaabi, Khalid Muhammad Balama, Governor of the Central Bank, and members of the Board of Directors, Younis Haji Al-Khoury, Sami Daen Al-Qamzi, and Dr. Ali Muhammad Al-Rumaithi.

The Board of Directors of the Central Bank approved the Emiratisation program for leadership and key jobs in the banking and insurance sector in the country, by activating the Central Bank’s initiatives related to Emiratisation by approving 5,000 new jobs by the end of 2026, in coordination with the Emirates Institute for Banking and Financial Studies and the Board of Directors of the UAE Cadres Competitiveness Council, assigning and following-up Institute to achieve these goals.

During the meeting, a report on the follow-up to the implementation of the decisions and directives issued by the Council in its previous meetings, and the decisions taken by passing, were reviewed.

The Council was briefed on some topics submitted by some departments and departments in the banking and insurance supervision sector in the Central Bank, where it approved the requests of banks and other financial institutions and took the necessary decisions in this regard.

The Board also approved the amendment of the Central Bank’s notifications regarding the maximum limits for fees and commissions imposed on licensed financial institutions, and also agreed to amend the scope of work of the Central Bank’s Banking Risk Center regarding the bounced check system.

The Council also reviewed the Central Bank's plan regarding cooperation and communication with the private sector and financial and banking institutions, the collective efforts made to combat money laundering and terrorist financing in the UAE, at the local and international levels, and the enhanced compliance system for combating money laundering and terrorist financing.

The Council completed the discussion of the topics on its agenda, which included some administrative and operational issues, and took the appropriate decisions regarding them. The Council also approved the framework for action proposed by the Risk Department of the Central Bank.

“Al -

Group” intends to employ 5,000 citizens within 5 years

» Reaching a localization rate of 10% during the next two years, and providing 5,000 job and qualifying job opportunities for citizens in eight vital sectors in the group during the next five years.

The Council of Ministers, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, recently adopted a new policy for classifying private sector establishments in a way that supports the goals and plans of Emiratisation and consolidates the government's partnership with the private sector in this field.

Meera Al-Futtaim, a member of the Board of Directors of the Al-Futtaim Educational Foundation and Chairman of the Al-Futtaim Emiratisation Council, said, "The group responded quickly to support government strategies and plans for Emiratisation in the UAE, believing in the role of the private sector in cooperation with government agencies in achieving sustainable development."

She added that "Al-Futtaim Group recently announced its Emiratisation strategy, which includes its outputs: allocating 5,000 job and qualifying job opportunities for citizens during the next five years, and reaching a nationalization rate of 10% during the next two years."

She indicated that the group has already provided job opportunities for about 357 citizens during the year 2021 and the beginning of this year 2022, in all the specialties available to it, and the group intends to employ 450 citizens during the current year, to increase the number of citizens working in the group to reach 1100 Emiratis by the end of 2022, to The group's investment in training and developing Emirati employees and new entrants to work in its various departments and departments, as this will achieve the government's ambition to increase the attractiveness and competitiveness of citizens in all vital sectors in the UAE labor market.

And she continued, "The Al-Futtaim Group will continue its path of attracting Emiratis, creating all opportunities for them to contribute to the group's development by occupying various jobs in it, and launching initiatives and partnerships that will work to achieve sustainable development in the UAE."

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