Focus On Emiratisation And Fintech At Emirates Institute For Banking And Financial Studies In 2020

The Board of Directors of the Emirates Institute for Banking and Financial Studies (EIBFS) recently held a meeting in its new headquarters in Sharjah to discuss and finalise the annual training plan for the calendar year 2020. Emiratisation and Fintech have emerged as two key focus areas in the new training plan.

Chaired by Hisham Abdullah Al Qasim, Chairman of the Board of Directors at EIBFS, and Jassim Al Ali, Vice Chairman of the Board of Directors at EIBFS, the meeting was held in the presence of other board members including Obaid Al Shamsi, Iman Abdul Razzaq Shehab Issa Al-Zaabi, Abdullah Bin Hathboor and Jamal Al Jassmi, GM at EIBFS.

The Board approved the Institute’s training plan for 2020, aimed at building a robust and forward-looking workforce in the UAE banking and finance sector. The Board also launched the new EIBFS website, which has been revamped to provide ease of usage and seamless navigation for students.

The annual training plan lays emphasis on upskilling the Emirati population and encourage them to take up careers in the sector. EIBFS has been at the forefront of promoting and facilitating Emiratisation and the upskilling of the local talent in the banking sector. Through various courses and workshops, EIBFS has been able to build capacity of UAE nationals. In 2020, EIBFS plans to include enhanced training sessions for Emiratis.

In efforts to support the rising demand towards digitisation and implementation of technology, the new training plan also recognises the importance of fintech and has included programs that support upskilling in the digital domain. Fintech has disrupted the financial services industry and its scope and application transcend traditional banking and have enabled the sector to adopt new ways to make transactions quicker and easier. Banks and financial institutions in the UAE are focusing on digital methods which in turn necessitates the workforce to be upskilled with the latest technologies.

Congratulating the Board on the new training plan, Hisham Abdullah Al Qasim  said, “EIBFS is actively working towards building a responsible and well-equipped workforce and with the 2020 annual training plan the Institute has showcased a comprehensive training schedule with relevant courses.”

He also said that the Institute is successfully contributing towards raising Emiratisation in the banking sector in line with the UAE’s leadership that is making nationalisation a top priority and accelerating the process of education, qualification and performance-related trainings for Emiratis in the banking and finance sector.

On his part Jamal Al Jassmi said, “I would like to thank all the board directors and members for their valuable contributions towards the 2020 training plan. We have achieved exceptional results in 2019 and are looking to raising the benchmark in the coming year. Emiratisation and fintech remain a focus and we are ensuring the inclusion on more courses to elevate those areas of training.”

“Our Emiratisation efforts are in support of the UAE leadership and we hope to continue building the local workforce in the sector. Through the training plan, we aim to set specific standards for the sector and ensure that training initiatives are aligned with the technological revolution in the banking sector in order to meet recent demands and challenges. Our growing collaborations with banks and other financial institutions have played a major role in delivering tailored programs and courses.”

“It also gives us great pleasure in launching the new EIBFS website that has been designed to include a simplified interface. Students will find it easier to use the platform now,” he added.

EIBFS continues to work towards providing a global learning environment for all students, in addition to the continuous development in terms of the curriculum, EIBFS also provides an opportunity for students to finish their final year of education at Bangor University in UK —one of the top 25 universities in the world.

Over the years, EIBFS has been at the forefront of upskilling banking professionals in the UAE. Established by the Central Bank of UAE, the Institute is supported by local and international banks in the UAE and entrusted by the Human Resource Development Committee (HRDC). EIBFS plays a major role in supporting Emiratisation initiatives and helping all the banks in the UAE in recruiting, developing and training banking professionals.