General Manager Jamal Al Jassmi, details the journey of EIBFS and their mission of empowering the Emiratization Initiative through revolutionary education reforms.
EIBFS is the leading educational institute in the region due to their perfervid perseverance towards establishing industry benchmarks and aligning training initiatives with industry demands. “We routinely collaborate with international institutions, industry leaders, banking experts, HR and talent development managers to provide superior specialized knowledge and training programs to raise the standard of employee performance. Our learning environment equips our students to overcome competition and succeed in their chosen fields. EIBFS is dedicated to improve our training programs and we include our stakeholder’s input in the top tier management of training and HR. Our technical advisory committee (TAC), conducts an extensive TNA process every year to identify critical professional competencies required by the industry. Based on their feedback, the Annual Training Plan is prepared. Similarly, this year the Technical Advisory committee for the Insurance Sector has been formed” adds Al Jassmi.
Encouraging and Facilitating Emiratization
Since 1983, 151,652 banking professionals have trained under their specialist guidance, and the number keeps growing. “The records of our 2016 operational results reflect EIBFS’s steadfast focus in contributing to the development of the UAE’s growing banking and financial services sector through education. Furthermore, our numbers cumulated over the past few years, are a testament to our success in supporting the government’s nationalization efforts through training young UAE nationals. Presently, we have over 150,000 trainees and over 2000 students graduated from our undergraduate degree programs. We are renowned for our training programmes for banks, insurance companies and exchange houses. EIBFS’s Emiratization initiative is expanding its portfolio to insurance sector as well. We work constitutively with HRDC and our flagship programs, such as the leadership development programs with Darden and Harvard, cater towards developing UAE National women in the Banking sector” explains the General Manager. “In 2016, EIBFS in collaboration with Darden School of Business, University of Virginia, selected UAE’s best and brightest female Senior Managers to participate in its Leadership Development Program. Selected on merit, senior female executives, along with their male counterparts, attended a rigorous two-week program in Virginia to develop and build effective networks, lead strategic change, cultivate business acumen and enterprise thinking, negotiate excellence, manage conflict, and grow through peer, faculty, and executive coaching. We honour the efforts of Emirati female talent in the industry by awarding them the coveted annual Distinguished Women Award in Banking & Finance Sector” he adds.
The Banking and Insurance sectors play a pivotal role in the economic architecture of the U.A.E, with 80% of key projects and infrastructure being financed by banking, and account for nearly half of the Emirati workforce in the private sector. EIBFS, since its inception has been dedicated towards supporting the Emiratization initiatives of the Government over the past decade, to further strengthen the economy and provide a platform for Emirati talent. “EIBFS has supported the new Emiratization strategy for changing the quota system into the revolutionary point system, which emphasizes on the twin objectives of employment generation and talent development; and conducted 20 workshops for the launch of this initiative. The current quota system, especially in the Banking sector, has been largely successful in attracting Emirati talent to the industry. Various studies have shown that the preference among Emiratis to work in the public sector leaves the private sector with a low talent pool, which is just around 10% of the Emirati workforce. Despite the odds, it’s encouraging that Banks and insurance companies account for more than 50% of the Emiratis working in the private sector” comments the General Manager.
“Quality job creation is the essence of the new point system, and with its flexibility and fairness ensures that the industry competitiveness is not compromised due to the Emiratization strategy. The new Emiratization system is truly symbiotic for all the stakeholders. We have worked concurrently with the Ministry of Presidential Affairs, Central Bank and Insurance authority to ensure that the new system is seamlessly launched in 2017. In the past six months, EIBFS has conducted a series of trainings for all the Banks and Insurance companies to create awareness about the Point system among the stakeholders much before the actual implementation” expresses Al Jassmi.
The U.A.E has been witnessing shifting trends within economic, education and training sectors and EIBFS has been at the forefront of implementing international and national standards. “In August 2010 with the introduction of NQA came the establishment and implementation of an internationally recognized education and training system for the UAE. NQA is responsible for facilitating the transfer, shift and continuity of learning of individuals between different education and training pathways ultimately contributing to the enhancement of vocational education and training quality in the country. Its mandate includes regulation and accreditation of the Training centres through regulatory authorities and introduction of recognized professional qualifications through the development of NOSS (National Occupational Skills Standard). We have been incessantly internalising regulations and recently obtained the Education Services Permit for our training centre in Dubai, from KHDA this month and are now in the process of obtaining RTP (Registered Training Provider) status for its training centres in Sharjah and Dubai. We are dedicated towards implementing the highest qualifications to enhance socio-economic, educational and social development and work hand in hand with local and international organizations to provide a platform for the future generation of professionals, who are instilled with competence and expertise” he concludes.