ABU DHABI // The Abu Dhabi Education Council on Wednesday warned all foreign teachers that they must hold a teaching licence issued in their home country before they can work here.
“We would like to ensure that any teacher who is recruited is highly competent,” said Dr Khalid Al Abri, director of personnel management.
“There is a committee that is working on the recruitment process to ensure competency.”
The push for a national teachers’ licensing system began in 2013, when Cabinet authorised a resolution establishing the Supreme National Steering Committee, led by the National Qualifications Authority.
It will apply to teachers, vice principals, principals and cluster managers working in public and private schools, the NQA said.
The NQA has previously said that a pilot phase of the programme, expected to last about six months, would involve about 750 teachers and would begin this academic year.
“An evaluation of the whole process will be conducted to adjust any shortcomings and narrow the gaps that can affect the final licensing process,” the authority said.
“After that, all teachers will commence the mandatory licensing. It is anticipated that the licensing system will be implemented in the first half of 2017.
“The new system will be implemented gradually over five years, such that all teachers will be licensed by 2021 in line with the requirements of the UAE National Agenda.”
Dr Al Abri said Adec recruited its foreign staff only from countries that licensed teachers. To be considered for a job in a public school, candidates must have a minimum grade point average of 2.5, he said.
Expatriates must have at least two years of teaching experience.
Non-native English speakers applying to teach English, science, mathematics or physical education need a minimum score of 6.5 on the international English language testing system.
Prospective Emirati teachers can be hired without prior experience but must meet all other criteria.
“They don’t require experience.” Dr Al Abri said.
“However, they need to be university graduates with teaching qualifications.”
Adec said it recruited 168 Emiratis, 95 Arabs and about 600 western teachers and staff for this academic year.
More than 15,000 teachers and other staff work in the emirate’s 251 public schools, with Emiratis making up about 52 per cent of teaching staff.
“We’re seeing a gradual improvement in the recruitment of Emiratis every year,” said Dr Al Abri.
rpennington@thenational.ae
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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