CBUAE approves creation of 5,000 jobs for UAE Nationals in banking, insurance sectors by 2026

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By Lola Smith

Published: March 2, 2022 | 3:02 PM

CBUAE approves creation of 5,000 jobs for UAE Nationals in banking, insurance sectors by 2026

ABU DHABI, 2nd March, 2022 – H.

Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs, and Chairman of the Board of Directors of the Central Bank of the UAE (CBUAE), chaired the meeting of the board, held today in Qasr Al Watan.

Sheikh Mansour welcomed the meeting’s participants and thanked the Central Bank of the UAE for its efforts to support the banking sector’s financial stability.

During the meeting, he was briefed on the progress of the implementation of plans, which are in line with the country’s future and economic approaches aimed at achieving digital inclusion and the green financial system.

The board approved the Emiratisation of managerial positions in the banking and insurance sectors, by approving the creation of 5,000 new jobs by the end of 2026, in coordination with the Emirates Institute for Banking and Financial Studies and the Emirati Talent Competitiveness Council.

The meeting also discussed the implementation of the council’s directives from previous meetings.

The board approved an amendment to the bank’s notifications regarding maximum fee limits and commissions imposed on licensed financial institutions and agreed to amend the scope of work of the bank’s “Banking Risk Centre” regarding the bounced cheque system.

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About Lola Smith

Lola Smith is a highly experienced writer and journalist with over 25 years of experience in the field. Her special interest lies in journalistic writeups, where she can utilize her skills and knowledge to bring important stories to the public eye. Lola’s dedication to her craft is unparalleled, and she writes with passion and precision, ensuring that her articles are informative, engaging, and thought-provoking. She lives in New York, USA.