Emirati women gear up to lead banking sector

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Emirati women gear up to lead banking sector
Hind Al Attar, head of human resources at Noor Bank.

dubai - Emirati women are significantly more likely than their male counterparts to show an interest in banking and financial services

By Hind Al Attar

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Published: Sat 27 Aug 2016, 4:33 PM

Last updated: Sat 27 Aug 2016, 6:38 PM

The banking sector is well-positioned to spur a wider Emirati female leadership and participation in the private sector. A recent Emirati Employment Report released by Oxford Strategic Consulting suggests that Emirati women are significantly more likely than their male counterparts to show an interest in banking and financial services - with 21 per cent of Emirati women viewing a job in banking and finance as their ideal occupation compared with only four per cent of male respondents demonstrating the same interest.

This finding reflects the growing rates of global female representation on financial services boards (20 per cent in 2016) and executive committees (16 per cent in 2016), according to Oliver Wyman's Women in Financial Services report. It also reiterates the increasing importance of diversity in the workplace as well as its contribution to expanding economic sustainability and wealth.

Placing Emirati women in a wide range of private sector jobs, particularly within the financial services industry, aligns with the UAE's concerted efforts to diversify its economic policy and expand its non-oil sector economy - which is integral to reducing the nation's unemployment rate.

With Dubai set to emerge as a leading platform for Islamic finance and FinTech innovations among other financial offerings, it is critical that our Emirati talent grows its technical and professional skills to meet these dynamic requirements.

Emirati women interested in enhancing their professional skills, engaging in a strong career trajectory and contributing to the success of their country are ideally suited to join the banking and financial services workforce. Encouraging professional self-development, the industry provides plenty of opportunities for training, career progression and personal growth. Currently, 22,000 Emiratis work in the private sector, with 14,000 UAE nationals employed in the banking industry alone - with women making up 70 per cent of these bankers.

Growth drivers
While the majority of Emirati women continue to take up positions in the government sector, entry barriers into the financial services industry among other private sector positions have reduced significantly due to new training and career development measures along with the implementation of flexible working hours. Many firms are looking to provide greater adaptability so women can successfully balance family life with career aspirations.

When I first entered Noor Bank, I was provided with an outstanding platform to build my skills and begin my journey in the banking and financial services sector - a great decision that changed my life for the better. Much like myself, young Emirati women today are more motivated to join and remain in the corporate side of the private sector - applying for more technical and strategy-based positions.

Facing less external barriers than past generations had to and breaking all stereotypes, Emirati women today are both committed workers and great contributors to the banking and financial services industry. Women in the industry now enjoy prolific careers in non-traditional fields such as IT, financial services and engineering. Successful at what they do, these Emirati women are skilled, ambitious, competent, competitive and hard-working.

The importance of training
This being said, more needs to be done to provide adequate technical training for Emirati women. Many of our women graduate with degrees that do not qualify them for today's dynamic and competitive labour market.      

As technology, customer, shareholder and regulatory expectations evolve and challenge the relevance of traditional banks and financial services, organisations in the industry have to recognise the benefits of partnering with institutions to tailor best-in-class vocational programmes that will inspire the professional workforce and companies alike to innovate, navigate disruption and improve their bottom line.     

At Noor Bank, for example, we offer our employees an exciting career opportunity to grow and progress in their field of expertise and interest. We strongly believe in developing high quality bankers and banking services which not only benefit the bank, but also contribute to the overall growth of the country. In lieu of this, we offer a number of opportunities to our staff to benefit from development and career growth platforms.

This year, we nominated talented senior and executive Emirati bankers for a unique leadership training program held in the United States - in association with the Emirates Institute of Banking and Financial Studies.      

So what can Emirati women do to prepare for a career in banking and financial services?

.    They can enroll in training programmes at premier vocational and academic institutes to build their qualifications and professional and specialised skills. They can acquire multiple degrees that will give them a competitive edge in the labour market.

.    Professional development is the secret ingredient to success. Rather than waiting around for a company to hold training seminars, seeking out professional development opportunities should always be high on everyone's agenda.

.    Build a financial services network. Focus on developing a two-way professional relationship with women and individuals who share the same passions as you do.

The writer is the head of human resources at Noor Bank. Views expressed are her own and do not reflect the newspaper's policy.


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