FERG Members Bat for More Emiratis in Financial Services Industry

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83% of respondents to a FERG survey believe that it is important for more UAE nationals to undertake professional education and qualification in the financial sector

Dubai, UAE: FERG has revealed in its latest survey that 83% of its members believed that it was important for more UAE nationals to undertake professional education and qualification in the financial sector. The survey compiled responses from all FERG members, which includes top exchange and remittance companies in the UAE, and analysed the effect of the industry to broader economic issues, top concerns, and responses of the industry to the changing financial climate along with major currency performance sentiments.

Over the years, through the implementation of various programmes, FERG has developed numerous career development opportunities for Emiratis at all levels. These programmes demonstrate the commitment of FERG to support the Emiratisation strategy of the UAE Government in line with the UAE Vision 2021, which has set a clear roadmap for the country’s transition to a knowledge-based economy.

The survey also found that nearly 46% of the respondents believed that employment opportunities for finance professionals in their sector will either increase or remain the same over the coming few months. Meanwhile, 61% of respondents believed that technical education for practitioners in the industry needs to be increased to improve the industry. Nearly 50% of those surveyed also said that they believed that investing in human resources is of medium to high importance.

“FERG is an integral part of the UAE’s growth journey, and we are fully committed to enable more Emiratis to join the workforce in our industry. We have made significant progress in recent years, and this is evident through the introduction of various initiatives that have been utilised by Emiratis from all walks of life. Looking ahead, we are excited about the potential of the up and coming generations of UAE Nationals and look forward to the opportunity to equip them with the skill sets and tools they require to achieve their professional ambitions and contribute to a sustainable future,” said Mr. Mohamed Ali Al Ansari, Chairman of FERG.

“FERG has developed a long-term plan to help the Emiratisation process and improve the economic contribution of the national workforce through training and programmes to increase local talent employability. As an organisation dedicated to the well-being of our sector, we have also focused on achieving the Emiratisation targets of the UAE, encouraging our member organisations to recruit more Emiratis,” said Mr. Osama Al Rahma, Vice Chairman, FERG.