UAE: 5,000 new jobs approved

His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Board of Directors of the Central Bank of the United Arab Emirates, chaired the meeting of the Board of Directors of the Central Bank, which was held today at Qasr Al Watan in Abu Dhabi.

His Highness Sheikh Mansour bin Zayed Al Nahyan welcomed the attendees, and His Highness thanked the Central Bank for the efforts made in all its sectors and senior administrations, to maintain financial stability in the banking sector. And the green financial system, which the Central Bank is working to achieve at the highest levels of quality and in line with the best international practices, to ensure the country’s leadership regionally and internationally in this field.

The meeting was attended by Vice-Presidents H.E. Abdul Rahman Saleh Al Saleh, H.E. Jassim Muhammad Al Zaabi, H.E. Khalid Muhammad Balamy, Governor of the Central Bank, and Their Excellencies Board Members Younis Haji Al-Khoury, Sami Daen Al-Qamzi, and Dr. Ali Mohammed Al-Rumaithi.

The Board of Directors of the Central Bank approved the Emiratisation program for leading and key jobs in the banking and insurance sector in the country, by activating the Central Bank’s initiatives related to Emiratisation by approving 5,000 new jobs by the end of 2026, in coordination with the Emirates Institute for Banking and Financial Studies and the Board of Directors of the Emirates Competitiveness Council, and assigning and following up the Institute in achieving these objectives.

During the meeting, a report on the follow-up to the implementation of the decisions and directives issued by the Council in its previous meetings, and the decisions taken by passing, were reviewed.

The Council reviewed some topics submitted by some departments and departments in the banking and insurance supervision sector in the Central Bank, where it approved the requests of banks and other financial institutions and took the necessary decisions regarding them. He also agreed to amend the scope of work of the Banking Risk Center at the Central Bank regarding the bounced check system.

The Council also reviewed the Central Bank's plan regarding cooperation and communication with the private sector and financial and banking institutions, the collective efforts made to combat money laundering and terrorist financing in the UAE, at the local and international levels, and the enhanced compliance system for combating money laundering and terrorist financing.

The Council completed the discussion of the topics on its agenda, which included some administrative and operational issues, and took the appropriate decisions regarding them. The Council also approved the framework for action proposed by the Risk Department of the Central Bank.