The Central Bank revealed that banks have reduced the number of their employees by only 1%, equivalent to 415 employees.
Two banking experts said that banks in the UAE provided a model for national institutions that assumed their societal responsibilities, pointing out that the sector includes high-level banking competencies.
In detail, the Central Bank emphasized that the financial sector in the UAE maintains its stability well, despite the repercussions that the Corona virus has left on the world’s economies.
In his latest report on economic performance indicators for the second quarter of 2020, he revealed that banks had reduced the number of their employees by only 1%, equivalent to 415 employees, bringing their total number at the end of the first half of 2020 to 35,423 employees.
The “Central” indicated that the number of licensed commercial banks remained unchanged during the second quarter at 59 banks, including 21 national banks and 38 foreign banks, including 11 banks that provide wholesale banking services.
The Central Bank indicated that the transformation of financial services into a digital economy has prompted national banks to rely less on branches, which decreased from 640 at the end of the first quarter of this year to 611 at the end of the second quarter.
The banking expert, Sheikha Al-Ali, said that the banking sector in the UAE is the largest in the Arab world and in the Gulf, and includes high-level banking competencies, as well as that it attracts expertise from all parts of the world, in addition to those who are being trained, stressing that this is a wealth that is difficult to forfeit.
She pointed out that the banking sector is one of the least employees during the past six months, given the essential role that banks play in supporting the economy.
For his part, banking expert Mustafa Al-Rikabi said that banks in the UAE provided a model for national institutions that assumed their societal responsibilities towards their employees, thus preserving them and the stability of their families. He explained that many banks have openly announced, amid the Corona crisis, their attachment to employees, and this is something to be reckoned with, and establishes an affiliation on the part of the employee himself.
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