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Top skill you need to work in UAE banking sector

 

DUBAI – Are you looking to land a job in the UAE’s finance and banking sector? Then you need to have this impportant skill, according to the Emirates Institute for Banking and Financial Studies (EIBFS).

EIBFS said hiring in the banking industry is at a high, with thousands of UAE nationals being recruited in the sector considered the “largest industry in terms of recruiting citizens, said Jamal Al Jassmi, General Manager at EIBFS.

What new skill do you need in order to get hired and beat the 9,000 professionals training to upgrade their skills in hopes of getting a job in the banking sector?

The right digital skills, Al Jassmi revealed. He said that the skill is necessary as financial technology significantly influences the business strategies of the banking sector.

“We have witnessed the shift and the growing requirement of banks today to hire individuals equipped with the right digital knowhow to excel in the industry,” said Al Jassmi.

He said that jobseekers are now “looking to equip themselves with the right digital skills to be updated and have better prospects in the banking and financial sector”.

“Digitalization is the new buzzword across industries and banking is not far behind. The sector is moving at a fast pace towards becoming more digitally efficient and smart… Although I do not foresee a major drop in the sector’s manpower requirements, I believe it has become imperative for banking aspirants to acquire new skills to be able to adapt to the new technology,” he said.

Al Jassmi pointed out that the next phase of adoption of AI technologies by the UAE banking sector will be in niche fields such as cybersecurity and financial management.

“There are also a number of challenges facing the banking sector today, such as the cost of replacing old technologies, big data and insights and data security,” he noted.

Highlighting the UAE government’s push towards digitalization, Al Jassmi said: “The UAE has always been one of the first countries in the region to embrace new technologies and ideas. Many local banks in the UAE are leading the way in adopting the latest digital innovations in the region and are gradually transitioning towards being digitally driven. This comes as part of the banks’ understanding that technological development is a continuous and inevitable process.”

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