UAE banks to amend Emiratisation rules to avoid fines

Dubai – Mubasher: Banks operating across the UAE will review their Emiratisation regulations to avoid fines that would be imposed as of the end of 2018 if they do not commit to the government’s new requirements.

Banks will begin amending their Emiratisation strategy to ensure that all requirements stipulated in the new Emiratisation points system are met, bankers told Alittihad newspaper.

They added that the hiring process should be more selective in terms of available and target jobs, CVs, and experience for UAE nationals who wish to apply to these jobs.

Banks have two options to achieve points under the government’s points system, the bankers explained, noting that to gain points, banks could either hire a large number of UAE nationals or fewer nationals but train and develop their skills for strategic jobs.

If banks do not commit to the system, they can be fined up to AED 20,000 ($5,446) per lost point from the total number of points set for each bank.

The banking sector’s Emiratisation points system is divided into three group by which banks can earn points:

  • High level and senior jobs worth 5 points
  • Mid-senior levels worth 3 points
  • Executive jobs worth 1 point
Mubasher Contribution Time: 26-Aug-2018 06:56 (GMT)
Mubasher Last Update Time: 26-Aug-2018 06:56 (GMT)