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Program Overview
Introduction to the Ethraa Program
The Ethraa program is an initiative by the UAE Central Bank to empower a new generation of Emirati financial leaders. It aims to create a stable and growth-enhancing work environment, prioritizing the development of national expertise in the financial sector.
About the Ethraa Program
The Ethraa Financial Program was launched in 2022 under the directives of His Highness Sheikh Mansour bin Zayed Al Nahyan. The program stipulates that the Central Bank of the UAE adopts principles to nurture a generation of national expertise capable of leading business sectors in the future. This is achieved by ensuring a suitable and stable work environment that contributes to enhancing their competitiveness and productivity.
Our Vision
The vision of the Ethraa program is to be the first platform to recruit and qualify UAE nationals to occupy important and leadership roles in the financial sector. This includes banks, finance, insurance, and financial technology companies.
Our Objectives
The objectives of the Ethraa program are:
- Employ and train 5,000 male and female citizens to occupy key leadership roles in the financial sectors by 2026.
- Qualify a generation of national expertise capable of leading the business sectors during the next five years.
- Strengthen the national economy and achieve a qualitative development shift in the national economy by 2026.
Benefits of Joining the Ethraa Program
The benefits of joining the Ethraa program include:
- Undergoing placement tests by international specialists.
- Preparing and training individuals with financial competencies to occupy promising positions in the UAE's financial sector.
- Following up on the journey of developing national financial competencies and supporting them to achieve leadership in the financial sector.
Ethraa Program Submission Requirements
The requirements for submitting to the Ethraa program are:
- To be a citizen of the United Arab Emirates.
- A recent graduate from an accredited local or international university.
- A cumulative GPA of 2.8 or above is required.
- Studied any major related to finance, financial management, IT, digitization, human resources, and marketing.
- Completed mandatory national military service (for males).
- Demonstrate flexibility and eagerness to learn and add value.
Frequently Asked Questions
What is the Central Bank's initiative for empowering human resources in the financial sector?
The "Empowerment of Human Competencies in the Financial Sector" initiative aims to increase national participation in leadership roles within the financial sector of the country, by creating 5,000 new vital positions for Emiratis in the financial sector by the end of 2026.
What are the components of the "Human Competencies Empowerment" initiative?
- Creating 5,000 new positions in the banking and insurance sectors by 2026.
- Implementing a targeted and customized points-based approach for banks and insurance companies to enhance localization in the financial sector.
- Generating new jobs in the financial sector by repatriating roles previously outsourced by banks abroad to the UAE.
- Establishing new roles for citizens within subsidiary companies of banks within the country.
- Creating new positions for experienced citizens in fintech companies.
- Enhancing current competencies within the banking sector.
What is "Ethraa" Programme?
"Ethraa" is a national program initiated by the Central Bank of the United Arab Emirates for localization in the financial sector.
Which entity will execute the training program in "Ethraa"?
The collaboration will take place with the Emirates Institute of Finance, which will serve as the Central Bank's engine in the recruitment, development of training programs, and qualification of Emirati talents.
What are the objectives of the "Ethraa" program?
- Supporting Localization Strategy: The program aims to support the national localization strategy and elevate the UAE's human development system.
- Capacity Building and Qualification: The program strives to build advanced national capacities and qualify young Emirati talents to be competitive.
- Enhancing Workforce Competitiveness: By enhancing the competitiveness of the Emirati workforce, the program aims to enable citizens to fill 5,000 positions in the financial sector in line with the state's strategic priorities over the next five years.
- Qualification for Specialized and Leadership Roles: The program aims to qualify citizens for specialized and leadership positions within the banking and insurance sectors, enhancing the global competitiveness of the financial sector.
- Boosting Attractiveness of Financial Sector Employment: The program aims to enhance the attractiveness of working in the financial sector.
How does "Ethraa" program contribute to empowering the financial sector?
The program aims to build advanced national capacities and qualify young Emirati talents to be competitive, thereby empowering the financial sector.
Who benefits from "Ethraa" program?
"Ethraa" program targets young Emirati citizens who are graduates of local and international universities, holding a bachelor's degree with a cumulative GPA of 3.0 or above, and aged between 20 and 25 years old.
What opportunities and training programs are offered in "Ethraa"?
"Ethraa" offers job opportunities across all disciplines within the financial sector, with a focus on the following specializations: credit, financial technology, compliance, risk management, cybersecurity, accounting, and auditing.
How is the registration and application process for the available positions conducted?
Registration for "Ethraa" is done through the program's website. After accessing the website, individuals should follow the specified steps, conditions, and eligibility criteria.
What are the next steps after registering in "Ethraa"?
For each activity within the program, there are specific qualification criteria, eligibility conditions, and requirements. After registering for the program, applicants will be contacted by the Emirates Institute of Finance to communicate further details and instructions.
Are there any registration fees for "Ethraa"?
There are no financial fees associated with registering for "Ethraa," as the program aims to provide an encouraging environment for accessing available job opportunities.
What is the participant selection process for "Ethraa"?
Participants submitted to the program will undergo an interview and assessment conducted by the Emirates Institute of Finance. Following this assessment, qualified individuals will be nominated to the operating banks and insurance companies within the country.
Can university graduates from years before 2020 register for the initiative?
Yes, registration is possible if the specified conditions and requirements are met, which include:
- The applicant should not be currently employed in the banking and insurance sectors in the country.
- If the applicant has previously worked in the banking and insurance sectors, there should be a gap of at least one year since their last employment.
- Citizens working outside the banking and insurance sectors are eligible to apply and register for the program.
Are the sons/daughters of female citizens eligible to register for "Ethraa"?
Yes, registration is allowed, as the initiative targets all citizens who meet the age, university degree, GPA, and other requirements, regardless of gender or parental status.
What are the registration requirements for national service recruits? And what benefits will be provided to them?
Participants from national service recruits in "Ethraa" will be treated according to the procedures followed in the country for this category.
What benefits does a participant in the program receive, such as salary, annual leave, etc.?
Participants in the program will receive the benefits and perks available to workers in the banking and insurance sectors, including competitive salaries, year-end performance bonuses, enrolment in county retirement funds, and entitlement to annual leave.
Can citizens who join the program participate in state retirement bodies and funds?
Support for retirement salaries is provided to participants in "Ethraa" initiative through the employee retirement system implemented in the banking and insurance sectors.
What is the duration of the training period in the program?
The program's duration extends for 12 months, during which participants will be actively engaged in their roles.
How many training pathways are there?
The number of training pathways depends on the previously mentioned job specializations.
Which institutes and universities are involved in implementing the program?
Professional and practical training is provided in collaboration with the Emirates Institute of Finance. This institute works to develop programs for the development and preparation of national talents in the financial sector, in partnership with prestigious academic institutions.
What are the vacant positions and specializations? Can participants choose between them or select multiple specializations?
The vacant positions and specializations are determined by the banks and insurance companies in the country. Participants cannot choose between or select multiple specializations. The assessment and selection process will be based on the specific job openings within the banking and insurance sectors.
If I encounter circumstances beyond my control, can I pause my enrollment in the program for a specific period?
No, it is not permissible. Participants who join the program will be under an employment contract. Therefore, any interruption in the program will automatically lead to the termination of the contract.