DUBAI, 15 December – Reviewing the UAE bank’s expectations and progress in the Emiratisation programme, the Governor of the Central Bank of the UAE (CBUAE), said the share of UAE nationals employed in banks increased to 32% as of Q3 2022.
The Emiratisation in the UAE banking system is planned to increase to 45% by the end of 2026, Khaled Mohamed Balama, said.
The CBUAE also highlighted the critical role of exchange houses in the UAE’s financial system and encouraged mutual collaboration with the banking sector, to further support the financial consumers and in the transformation of financial infrastructure and national payment systems.
“The CBUAE has set out to implement ambitious initiatives in financial infrastructure transformation and national payment systems in close cooperation with the financial industry officials. We encourage the financial sector to implement the innovative functionalities and transfer the benefits to the financial consumers,” Balama said. — Zawya