Emirates Institute For Banking And Financial Studies Introduces First National Qualification Award In Certified Retail Banker

The Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, and the Recognized National Development Committee (RNDC), a subcommittee comprising representatives of leading banks in the UAE, have announced the launch of its first National Qualification Level 5 Award in Certified Retail Banker (CRB).

This was announced at a meeting attended by RNDC representatives that comprises representatives of leading local and international banks in the UAE, including RAK Bank, Emirates NBD, Union National Bank, Sharjah Islamic Bank, Commercial Bank of Dubai, Citi Bank, Standard Chartered and ADIB.

This award aims to provide knowledge, skills and competencies required for retail banking professionals to deliver effective sales and operations services to the existing and prospective bank customers. The award also offers a deeper understanding of technological disruption in the banking sector, the changing financial regulations and controls necessary to effectively deliver products and services that meet the needs of their customers in line with the current and future industry demands.

The Level 5 CRB award effectively involves the knowledge and competencies of a combination of three Level 5 National Qualification Awards - Retail Banking Customer Service, Retail Banking Operations and Retail Banking Sales. Learners will be required to undertake all three qualifications and achieve a satisfactory rating to achieve the overall CRB award. The certificate has been endorsed by Vocational Education and Training Awards Council (VETAC) and National Qualification Authority (NQA) after fulfilling the accreditation standard by EIBFS.  The first batch of CRB will get under way on October 6.

The CRB award is a pivotal step forward in supporting UAE nationals in the banking sector to progress beyond entry-level roles – considering that approximately 70 per cent of Emirati employees currently work in the entry-level positions in retail banking.

Over the years, EIBFS has worked with key stakeholders, including the EIBFS Board and HR advisory committee, Union Banking Federation (UBF), HR Practice Committee, Banking HR Forum, Central Bank of the UAE, NQA and EIBFS internal staff. This is part of its endeavor to assess the banking and finance industry's view and appetite for standards and regulatory framework to enable the development and introduction of standards, accreditation and qualifications through the National Occupational Skills Standards (NOSS) and eventually the National Qualifications Framework [Q+NOSS] for the retail bankers.

Abdulfattah Sharaf, CEO of HSBC UAE, said: "This award comes in light of needing a competent learning process for retail bankers. It is a great opportunity for bankers to build their skill sets and advance their careers in the banking industry. RNDC has successfully achieved many milestones since its establishment and this is an extremely important one. I would like to congratulate the EIBFS for taking the initiative and thank all the committee members for their commitment and inputs."

Jamal Al Jassmi, General Manager of EIBFS, said: "The National Qualifications framework has been developed with a mandate to support the banking professionals in the UAE and provide an impetus to their career growth. Through this Level 5 award, the retail bankers will gain deeper knowledge and understanding of the dynamics, regulations and technology affecting the retail banking industry. Since the award is achievable to those completing Level 5 awards of the three certifications in retail banking, it will help learners build a better future for themselves in the industry."

"In 2018, EIBFS and RNDC along with the National Qualifications Authority (NQA) approved the final submission of the principal qualifications framework for entry-level certified retail bankers in the UAE. Introducing standards and an accompanying professional qualifications framework, enabled by Q+NOSS contributes to achieving objectives for Vision 2021 and Emiratisation in terms of promoting the local talent in the banking and finance sector. This Level 5 award is the next step in the RNDC framework. We would like to thank all the members who attended and contributed to this initiative," he added.

In the upcoming agenda, RNDC has also agreed to commence working on developing risk management qualifications which will focus on three main categories of risk in banking - Credit Risk, Market Risk and Operational Risk.

Over the years, EIBFS has been at the forefront of upskilling banking professionals in the UAE. Established by the Central Bank of UAE, the Institute is supported by local and international banks in the UAE and entrusted by the Human Resource Development Committee (HRDC). EIBFS plays a major role in supporting Emiratisation initiatives and helping all the banks in UAE in recruiting, developing and training banking professionals.