Sector: Retail banking

Are these 60% salary increases for Qatari bankers really a good thing?

When it comes to achieving nationalisation targets, banks in both Qatar and Dubai have always struggled to prise local candidates away from relatively cushy and well-paying public sector jobs. Now, in response to spiralling salaries in government jobs, banks in Qatar have been handing 60% pay rises to local staff to ensure they’re able to [...]

By Paul Clarke, 10 October 2011 • 0 comments

Have expat bankers in Bahrain finally decided that it’s better to stay?

Despite protestations to the contrary, international financial services firms have started shifting their Middle East HQs from Bahrain to Dubai. First it was asset manager Robeco, which is moving just 12 staff to the DIFC by year-end, and now French bank Crédit Agricole is relocating its 60 or so employees from Bahrain to Dubai. This [...]

By Paul Clarke, 17 August 2011 • 0 comments

Why expat bankers should feel a little threatened by the Saudi nationalisation push

Saudi Arabia’s new nationalisation push will no doubt have some expats feeling worried about the long-term viability of their career in the kingdom. However, those working in banking can breathe easy – for now. In a bid to tackle unemployment in the kingdom, the Saudi government has rolled out an aggressive nationalisation programme, called Nitaqat, [...]

By Paul Clarke, 11 August 2011 • 0 comments

Are most Emiratis working in finance destined for a life in retail or commercial banking?

Every year, the Emiratisation quota imposed on banks increases, meaning they have to step up their efforts to encourage more locals into the sector. Yet, with such a limited talent pool available, is the government asking too much? In the public sector, where the hours are short and the work arguably less taxing, Emiratisation has [...]

By Paul Clarke, 23 June 2011 • 1 comment

Banks face an uphill struggle convincing staff to stay in Bahrain

International banks with a large presence in Bahrain are reiterating their commitment to the kingdom after the recent unrest, but face an uphill struggle keeping hold of staff who are either relocating or being targeted by other firms in Dubai, Qatar and Abu Dhabi. Bahrain may have just lifted the three-month state of emergency law [...]

By Paul Clarke, 9 May 2011 • 5 comments

HSBC is making redundancies in the Middle East, should you be worried?

HSBC is implementing the second round of redundancies in the MENA region in two years. Again, the proportion of staff affected is minimal (at 3%), but this time it’s driven by a global downsizing operation, rather than concerns over the Middle East. Around 360 people in HSBC’s 12,000-strong Middle East workforce are to be cut. [...]

By Paul Clarke, 4 May 2011 • 0 comments

Redundancies looming as Qatar cracks down on conventional firms’ Islamic banking functions

Qatar Central Bank’s (QCB) move to force conventional banks to shut their Islamic banking units is likely to spur a new round of redundancies in the peninsula at a time when the sector was showing signs of recovery. The banks affected by the move might have until the end of the year to shutter their [...]

By Paul Clarke, 7 February 2011 • 5 comments

Qatari banks’ appeal is on the up

There’s been a lot of hype around the growth potential, and job creation possibilities, of Qatar’s financial sector over the last couple of years, which has never really come into fruition. In 2011, however, things could be different. The optimism around Qatar’s banking system has been slowly simmering since the peninsula’s successful bid for the [...]

By Paul Clarke, 18 January 2011 • 1 comment

The days of paying more for local talent are disappearing

At this point in the year, when Gulf banks are scrambling to meet localisation quotas, it’s near impossible for expats to find a new job. However, despite a shortage of candidates, the days of locals earning a premium are slowly falling behind us. Hiring within the Middle East domestic banking sector has been muted throughout [...]

By Paul Clarke, 1 December 2010 • 0 comments

It’s been a tough year for UAE banks, but some job opportunities remain

As the latest crop of Q3 results demonstrate, UAE banks’ profits continue to be weighed down by provisions against bad loan losses and shrinking demand from retail customers. The result is that hiring has largely been on the back burner, but certain hot areas remain. There’s a general lack of transparency when it comes to [...]

By Paul Clarke, 16 November 2010 • 1 comment