Several memoranda approved by cabinet

During the meeting, the cabinet approved a number of memoranda, including a memo containing amendments to the decisions regulating compensation for UAE nationals whose properties have been affected by the construction of federal projects. The memo also suggested a mechanism for payment of the compensations.

The cabinet approved a memorandum suggesting a waiver on the submission of academic qualifications as a prerequisite for obtaining a work permit. This prerequisite is now to be dropped, except for professions where such qualifications might be required by virtue of the job.

The cabinet further endorsed a memo on the UAE ratification of the 1954 Hague Convention for the protection of cultural property in the event of armed conflict.

A memo to build embassy quarters and ambassador’s residence in Morocco was also passed. The cabinet was briefed on the result of the Arab-Latino summit which was held in Brasilia earlier this month.

Earlier, the cabinet was briefed on the efforts exerted by the human recourses development committee with respect to Emiratisation drive in the banking sector.

The committee reported that Emiratisation in the banking sector increased significantly from 9.38 per cent in 1997 to 27.6 per cent in 2004. During this period, the number of UAE nationals increased from 1,278 in 1997 to 5,397 in 2004. The number of locals in higher positions rose to 88.3 per cent while middle and lower rank positions rose to 219.4 per cent and 538.3 per cent espectively. National banks achieved 28.03 per cent Emiratisation rate while foreign banks achieved 26.08. As for women workforce in the banking sector, the committee stated that women account for 34.5 per cent of the workforce with UAE nationals numbering 3, 283, that is, 60.8 per cent of the entire UAE workforce in the baking sector.

Leading the banking sector in Emiratisation drive is Umm Al Quwain National Bank with 46.53 per cent, followed by Emirates Islamic Bank with 42 per cent and RAK Bank with 41.5 per cent. Some 16 banks achieved less than 20 per cent , including two banks which achieved a zero-emiratisation rate.