Transcript For the Indian project

Business, Administration and
Financial Services Industry Sector
in the UAE
R&D Department
National Qualifications Authority, UAE
October 2016
Occupations and Careers Handbook for UAE Nationals
From a range of national activity indicators,
twelve (12) industry sectors were identified.
No.
Code
Industry sector
1
A
Government services and public
administration
2
B
Community, health and social services
3
C
4
D
5
E
6
F
7
G
8
H
Utilities and infrastructure
9
I
Energy resources – oil, natural gas,
petrochemical, chemical and
mining/quarrying
10
J
Manufacturing
11
K
Logistics and transport
12
L
Agriculture, livestock and fishery
Business, administration and financial
services
Tourism, hospitality, retail and leisure
services including personal care services
Arts, culture and entertainment
Education, learning and social
development
Building and construction, estates and
assets development and management
About 20,000 UAE nationals enter the job market every
year (Emirates National Development Programme (ENDP).
The Handbook acts as an important reference for
employment opportunities in the key sectors.
Business, administration & financial services
Careers in:
• Accounting
• Banking
• Financial services
• HR management
• Legal services
• Management
• Marketing and promotion
• Media and advertising
• Public relations
Example employer
Mubadala, AD Investment Authority, UAE Central Bank, National
Bank of Abu Dhabi, Ministry of Finance, ADNOC, Etihad Airways,
Emirates Airlines, Chamber of Commerce in each emirate, etc.
UAE Vision 2021
Competitive knowledge economy (selected targets):
• Diversification of the economy away from the oil and
gas sector
• Expansion of the private sector
• Increased efficiency and productivity within the public
sector
• Emiratisation
Indicator
2012 results
Non-Oil Real GDP Growth
3.2% (Preliminary 2015)
Global Competitiveness Index
Rank 16 (2016-2017 Report)
2021 targets
5%
Among the top 10 countries
Share of UAE Nationals in the Workforce 0.61% (2015 Estimate)
8%
Emiratisation Rate in the Private Sector
5%
1.08% (2015)
Qualifications endorsed by NQA
105 endorsed
qualifications
45
Subsector
code
Industry sector
(as of August 2016)
C00
Business, administration
C05
and financial services
C25
Sub-sector
Administration
Business services
Financial services
29
Business, administration and financial
services
2
16
13
10
2
Administration
Business services
2
Community, health
Business,
Tourism,
Education, learning Building and
and social services administration and hospitality, retail
and social
construction,
financial services and leisure serivces development estates and assets
including personal
development and
care services
management
1
Utilities and
infrastructure
Logistics and
transport
30
Financial
services
Endorsed qualifications in business,
administration & financial services
by qualification type and QF level
Qualification types:
Principal qualification
Composite award
Component award
Business, administration & financial services
LEVEL 1
LEVEL 2
LEVEL 3
Principal Qualification
LEVEL 4
LEVEL 5
Composite Award
LEVEL 6
LEVEL 7
Component Award
Job opportunities
Bayt.com Middle East Job Index survey (summer 2016)
Hiring intention:
Highest
%
Banking/finance industry
74%
Hospitality/recreation/entertainment
73%
Telecommunications industry
71%
Lowest
Government/civil service
%
58%
The majority of companies hiring in the next
three months are looking to fill junior and midlevel positions.
The private sector is expected to offer
the most employment options in the
next few months and be the driving
force of job growth in the MENA region.
The most sought-after academic
qualifications in the MENA region:
• Graduate degree in business
management – 28%
• Graduate degree in engineering –
25%
Abu Dhabi Statistical Yearbook 2016
Statistics Centre – Abu Dhabi (SCAD)
Diversification of the
economy:
Oil contributed an
estimated 50.9% of the
GDP at current prices in
2014, with the remaining
49.1% representing the
share of non-oil
activities, which achieved
a combined growth rate
of 12.0%.
The main activities
contributing to economic
growth in 2014:
• Financial and
insurance activities
(18.2% growth since
2013)
• Real estate (17.0%
growth since 2013)
• Information and
communications
(12.0% growth since
2013)
The financial
intermediation and
insurance activity
contributed 7.2% of
the GDP in 2014, up
from 6.4% in 2013.
Private sector engaged the largest share
of the employed population (61.0%),
followed by the government sector with
12.4%. 76.6% of the employed UAE
nationals work in the government sector
and 5.8% in the private sector.
The highest
average wage per
employee was in
the ‘Mining and
quarrying’ activity
with AED 406.3
thousand, followed
by the ‘Financial
and insurance’
activity with an
average of AED
340.3 thousand.
The highest annual
growth rates of
compensation of
employees by
economic activity at
current prices in
2015 was the highest
in ‘Financial and
insurance’ with an
increase of 12.3%,
followed by
‘Information and
communication’ with
an increase of 10.5%.
Emiratisation laws (selected)
• 1996 Law: Banks operating in the UAE shall undertake to employ Nationals at an annual
rate of 4%.
• 64% emiratisation ratio at the Central Bank of the UAE in the first half of 2014
o 100% emiratisation in leadership and supervisory
o 71% emiratisation at the executive level
o 44% emiratisation in specialized/technical services
• 34% emiratisation ratio at national banks
• 21% emiratisation ratio at other banks
• 32% overall emiratisation ratio in the banking sector.
Currently: target points to be achieved based on the size of the bank, operating revenue
and a number of additional criteria
Emiratisation initiatives in media (selected)
• New initiatives launched by the National Media Council to facilitate Emirate
recruitment and increase the level of nationalization in the media industry
• Incentive programmes launched to attract Emirati talent to the media industry with
the help of the government bodies and the media institutions
• Currently, emiratisation in the UAE media sector stands at a little over 25%.