Business Bureau, Gulf Today

The Dubai Chamber Sustainability Network Taskforce on Emiratisation - an initiative from Dubai Chamber of Commerce and Industry - hosted a multi-stakeholder dialogue on engaging and developing young Emirati nationals. Taking place at the chamber’s headquarters, the session saw participating companies showcase their initiatives that aim to support young Emirati professionals.

Bringing together representatives from government entities and private companies across the UAE, the activity formed part of efforts by Dubai Chamber – the organisation that represents Dubai’s business community - to support UAE Vision 2021, which aims to create a knowledge-based economy through the engagement of skilled young UAE nationals and by developing local digital capacities.

Farida Al Ali, Assistant Undersecretary of National Human Resources Employment at the Ministry of Human Resources and Emiratisation (MOHRE), delivered the keynote speech at the event, where she asserted that Emiratisation is an integral part of the scope of UAE Vision 2021. Al Ali noted that the Ministry had launched several initiatives in the past few years to promote hiring Emiratis in the public and private sectors, most notably ‘Tawteen’ in 2016.

For his part, Annamalai Chockalingam, Deputy CEO of Mawarid, said his company recognises the potential of Emirati nationals. He introduced Mawarid’s strategy for identifying skilled Emirati nationals and helping them develop through a three-year mentorship programme., going on to discuss the company’s yearly awards programme for engaging and developing Emirati nationals – ‘Tamaiaz’.

Dr Alia Al Serkal, VP for People Learning & Growth at du, outlined the most notable initiatives and programmes that the telecommunications company has launched to support young UAE nationals, stating that it is essential for the private sector to develop a clear strategy for attracting, employing, and training Emirati nationals to benefit from their expertise.

Dr Belaid Rettab, Senior Director of the Economic Research and Sustainable Business Development Sector at Dubai Chamber, noted that the Chamber is committed to training Emirati professionals, honing and developing their skills and empowering them to play a role in Dubai’s business community. Dr Rettab explained that the Chamber’s ‘Fursa’ programme trains fresh Emirati graduates and employs them throughout Dubai Chamber’s various departments, providing them the opportunity to build their careers in sectors where they can be of use to the country and its citizens.

The Dubai Chamber Sustainability Network serves as a platform for Dubai’s business community to come together, share expertise on Corporate Social Responsibility (CSR) and sustainability challenges and develop practical solutions.

Founded in 2004, Dubai Chamber’s Centre for Responsible Business plays a leading role in promoting CSR and guiding organisations to adopt sustainable and responsible business practices. The CRB enlists a team of experts to assist members of Dubai Chamber and the rest of the business community in adopting responsible business practices that enhance their performance and competitive advantage. The centre organises events and provides CSR-focused counsel, in addition to research, training and assessment services.

New banking and licensing solutions tailored to the needs of startups, an uptick in the number of fintech startups specialising in SME banking and increased cooperation between UAE banks and the country’s startup ecosystem are among the key achievements outlined by the Dubai Chamber-led working group on SME banking.

The working group, in cooperation with Smart Dubai, Dubai Technology Entrepreneur Campus (Dtec) and a leading UAE bank, has developed a new one-stop shop solution powered by blockchain technology which enables startups and SMEs to apply for a business license and open a bank account.

Following the establishment of the working group and the release of a whitepaper on SME banking challenges published by Dubai Chamber in September 2018, two of its members – RAK Bank and Mashreq Bank - have begun offering new digital solutions and additional services designed specifically for startups. Meanwhile, an uptick has been observed in the number of fintech startups in Dubai addressing SME banking challenges, signalling stronger awareness about such matters.

Collaboration between UAE banks and the country’s startup ecosystem has increased considerably over the last nine months. For example, Noor Bank assisted 20 startups from Dubai Technology Entrepreneur Campus (Dtec) in opening bank accounts during the same period, marking a year-over-year increase of 35%. Enhanced communication about application documentation on the part of the bank reduced processing time and simplified the customer experience by providing startup customers with transparency and clarity up front.