The demand to employ local talent in the financial sector is so fierce that Emiratis are being hired almost as soon as they express an interest in a role, an industry insider has told The National.
Hundreds of Emiratis flocked to the Expo Centre in Sharjah on Thursday for the latest round of the Ethraa Careers Fair in which more than 100 finance and banking companies took part.
Hessa Al Suwaidi, Emiratisation manager at Arab Bank, said attracting Emiratis in the financial sector was challenging because there was such high demand.
“We face stiff competition to attract young Emiratis. They are quickly attracted to jobs because so many companies are looking for young talent,” Ms Al Suwaidi said. "We have to make sure we offer them the right salaries, positions and training to help them develop."
Her company, Arab Bank, was offering graduates 20 jobs at the fair. These included roles in sectors such as financial asset management and risk management. "We need Emiratis in the financial sector, but most banks and other entities are also working to attract them quickly," said Ms Al Suwaidi.
Emiratis with skills in the use of AI were more than likely to find themselves at the front of the queue when it came to being in demand, she added. “We need AI experts in each department to help us with our work. Usually we contact universities and participate in career fairs to get candidates, especially new graduates,” Ms Al Suwaidi said.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, this year announced that AI was to be introduced as a subject across all stages of government education throughout the UAE.
New opportunities
The careers fair was held with the intention of matching 1,500 Emiratis with jobs in the banking and finance sectors, with special emphasis on the fields of management, economics, accounting, finance, insurance and information technology (IT).
Nasser Al Shamsi from Ajman came to the fair with the hope of securing his first job. The 23-year-old graduated with qualifications in IT, security and forensics from Abu Dhabi's Higher Colleges of Technology.
“I have passion for IT and cybersecurity. This fair is a great chance for me to start my journey,” Mr Al Shamsi told The National. “I want to be chief information security officer in the future. I need to take my first step to achieve my dream.”
Yousef Hussain, 27, is interested in working in the financial sector because he believes a job with a bank will offer him special rates for loans in the future. “I prefer the public sector due to the benefits but will never say no to a good job opportunity in the private sector," said Mr Hussain.
The Ethraa fair is a central driver of the UAE’s Emiratisation initiative in the financial sector and aims to place Emiratis in 10,000 jobs by 2026–2027. The event, which is held across different emirates, provides Emirati graduates, from secondary school to university degree holders, with a direct platform to engage with leading financial and banking institutions.
National targets
The government is stepping up the nationwide Nafis programme, introduced in 2021, to ensure Emiratis make up 10 per cent of the private sector workforce by the end of 2026. Companies must increase their Emirati workforce by 1 per cent every six months as part of the scheme.
Employers in the UAE with at least 50 members of staff were required to meet a 4 per cent target by the end of 2023. As a result, the Emirati employment rate will increase to 8 per cent by the end of 2025, and 10 per cent in 2026.
