United Arab Bank Supports The GCC Human Resources And Job Market Forum

United Arab Bank (UAB) announced its support and sponsorship of the second GCC HR and Job Market Forum entitled ‘Human Resources and Job Market Challenges in the GCC” launched on May 24, 2011.

The Forum was held under the patronage of HH Sheikh Sultan Bin Mohammad Bin Sultan Al Qassimi, Crown Prince and Deputy Ruler of the Emirate of Sharjah, and in the presence of HE Dr. Abdul Latif Rashed Al Zayani, the Secretary General of the GCC Council. The Forum mainly tackled the issues of HR funds, the challenges facing the GCC job market, and the role of the private sector in supporting job market growth.

In his statement to the press, Paul Trowbridge, UAB’s Chief Executive Officer, said: “UAB remains committed to supporting and promoting Emiratization. Our objective is not only to meet Emiratization requirements but also to offer career advancement opportunities to qualified and talented UAE Nationals in various junior and senior positions, and to further support and equip them with the necessary skills required for them to become the future managers and leaders of the Bank.”

Awni Al Alami, UAB’s Deputy CEO, stated: “UAB is committed to supporting and developing the national recruitment process and the job market in the UAE. Our key strategic initiative aims to promote local talent and to create the right banking opportunities to attract promising UAE Nationals from Government colleges and local universities. UAE National staff members are a great added value. The Bank’s network expansion program observes and nurtures our Emiratization efforts whereas every newly opened branch offers new job opportunities that help develop the national task force, in an effort to support the economic development of the UAE and its people. For United Arab Bank, this is a translation of the Bank’s commitment to the vision of the UAE Leadership aiming to create and maintain a dynamic and healthy job environment, promote recruitment, and create new job opportunities in the country.”

United Arab Bank (UAB) had previously announced this year that it had achieved an increase of 4% in its Emiratization percentage to reach 39% as at the end of December 2010 compared to 35% in December 2009, recording one of the highest Emiratization rates among the UAE banking sector for 2010. The Bank has also successfully maintained a phenomenal 100% Emiratization of Branch Manager positions for the fourth year in a row, which has won UAB the Human Resources Development Committee in the Banking and Financial Sector Award for 2009 and 2010.

UAB has taken major steps towards boosting its Emiratization policy driven by key strategic initiatives aimed at recruiting and developing UAE Nationals while focusing on three core elements: 1. Career Advancement through a specifically tailored intensive development program – Al Tamayouz – for high potential UAE Nationals, 2. Student Sponsorship offering a leadership pipeline based on sponsoring UAE Nationals from students to employees, 3. Internships offering UAE Nationals at various universities and colleges the opportunity to work with UAB on short-term assignments that may lead to future permanent employment by the Bank.

In 2010 United Arab Bank launched its Sadara Wealth Management Program and Islamic Banking Services. The Bank’s ambitious branch network expansion program includes, in addition to the four new branches opened lately in Sharjah Corniche, Fujairah, Sharjah Industrial, and Ras Al Khaimah, one more branch to be opened soon in Jebel Ali. UAB is currently refurbishing all existing branches with a view to modernize its image and better serve its customers and will be opening 7 additional branches across all the seven Emirates in 2011 - 2012.

Currently, UAB has a network of fourteen branches and offices throughout the UAE. It offers 24-hour ATM service incorporating cash and cheque deposit facility.

UAB became part of a GCC regional banking alliance in December 2007 upon the acquisition of a 40% interest in UAB by The Commercial Bank of Qatar (Cb), Qatar’s largest private sector bank. With the Commercial Bank of Qatar concluding a similar alliance with National Bank of Oman (NBO) two years previously, all three banks are more strongly positioned for future growth.

In a challenging financial environment, United Arab Bank maintained earnings momentum recording net profit growth of 10% for the year ended 31 December 2010. the Bank is rated by Moody’s with a stable outlook.
 

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