How UAE bank workers stay current with trends
Emirates Institute for Banking and Financial Studies provides training
The emirates institute for Banking and Financial Studies (EIBFS) continues to play an important role in supporting the placement of UAE nationals in various financial institutions by offering them training and education, said a senior executive.
The institute, which was established in 1983 to provide education, training and allied services in the critical areas of banking and finance, offers annual training programmes across several categories such as bank science and operations, credit management and project finance, banking English, treasury and capital market, Islamic banking, e-banking applications, among others. Each category offers a choice of basic, intermediate or advanced levels at its campuses in Sharjah, Abu Dhabi and Dubai.
“Since its establishment in 1983, the EIBFS has delivered 6,902 programmes to more than 151,652 professionals in the sector until December 2016. The number of UAE nationals who participated stands at 52,229, which is 34 per cent of the total number of participants,” Jamal Al Jassmi, general manager, EIBFS, told Khaleej Times.
Speaking on the EIBFS’ performance in 2016, he said the institute delivered 879 vocational training and educational programmes throughout the year — the highest number to date. This was an increase of 48 programmes from 2015’s total of 831.
“Participation also saw a rise of 11 per cent, totalling 23,899 male and female participants compared to the year before,” he said.
In line with the government’s objective to boost the professional capacities of UAE nationals, he said the institute enrolled 6,342 Emiratis last year compared to 5,796 in 2015, an increase of 9.4 per cent.
“Specifically with regards to training plan programmes, the target for 2017 is 570. As we have seen over the years, we always exceed the number we plan for at the start of the year. That’s mainly due to the demand for various programmes, regular and customised, from banks and insurance companies,” he said.
In addition, Al Jassmi said the EIBFS would offer 14 professional certificate qualifications in cooperation with specialised international institutions to meet the rigorous needs of the banking sector and support future developments in the local market.
To further enrich the local banking and financial community, the EIBFS would also conduct workshops and seminars with the participation of prominent officials and employees from banking and financial sectors.
“The EIBFS has urged banks to nominate staff to take advantage of the plan, particularly UAE nationals. It will continue to invite international speakers to discuss global developments in the field,” he said.
Speaking about new initiatives, Al Jassmi said the EIBFS has launched a certificate in Islamic banking and finance in collaboration with the Islamic Banking and Finance Institute Malaysia in January this year.
“The institute will continue to provide 101 e-learning programmes and organise networking events dedicated to various aspects of the financial sector with the participation of international speakers. In addition, it will develop new customised training courses to meet the requirements of banks and insurance companies in the UAE and the wider region,” he added.
He said the institute has been created with several major objectives in mind, including creating courses that will help upgrade the performance level of employees in the banking sector, particularly those working in middle and senior
We will develop new customised training courses to meet the requirements of banks
Jamal Al Jassmi, general manager, Emirates Institute for Banking and Financial Studies
management.
“In 2016, the EIBFS organised 32 workshops and the total number of participants was 1,486 of which 694 were UAE nationals, which represented 47 per cent of all participants. The highlight was a lecture by American author and speaker Dr Deepak Chopra, who spoke on The Future of Well Being.
“Other workshops included: Basel III Implementation and Challenges; Business Process Re-engineering; Riding the Roller Coaster: Analysing the impact of oil, China and other headwinds; Asset Management in Islamic Finance: The Future Ahead; Abu Dhabi Retirement Pensions and Benefits Fund Workshops with UAE bank employees,” he said.
Referring to new Emiratisation policy approved by the UAE Federal Council of Ministers last year, he said the implementation of the new strategy is vital to achieve the goals of Emiratisation policies in the banking sector.
He said the number of UAE nationals joining the banking sector had remained flat over the past few years. “The EIBFS took the lead for conducting ‘Train the Trainers’ sessions for all banks incorporated with the Central Bank. The EIBFS conducted 20 awareness sessions for banks and insurance companies in 2016 and will continue supporting them during 2017.
“We are confident that our investment in faculty, technology and research as well as our collaboration with valued stakeholders will enable us to maintain our track record of success for years to come,” Al Jassmi concluded.