UAE Global Cadres to empower Emirati talents to play influential role in financial and economic sectors globally
Maktoum bin Mohammed: We are committed to strengthening the UAE's presence in global financial institutions through our exceptional national talent.
UAE Global Cadres
UAE Global Cadres to introduce Emiratis to raining, secondment and recruitment opportunities in international financial organisations
The initiative reflects the UAE's strong strategic partnerships with international financial organisations.
It aims to enhance the efficiency of Emirati talent, equipping them with skills aligned with international best practices.
Empowering Emirati professionals in the financial sector will have a positive impact on various key sectors across the country.
The initiative includes awareness workshops, training programmes, interactive sessions, and memorandums of understanding focused on opportunities for secondments, appointments, and training within international organisations.
Dubai, UAE: The Ministry of Finance has launched a new initiative to raise awareness among Emirati professionals and students about opportunities within international financial organisations.
The 'UAE Global Cadres' initiative targets Emiratis working in the UAE, as well as those enrolled in academic institutions both locally and abroad, aiming to encourage them to pursue training, secondment, and career opportunities offered by these international institutions.
Part of the UAE's well-established strategic relationships with international financial institutions, the initiative reflects the ministry's commitment to fostering national talent and reinforcing the country's presence on the global stage in line with the leadership's long-term vision.
Strategic Vision
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, stressed that the 'UAE Global Cadres' initiative will significantly support the UAE's strategic vision of empowering national talent and strengthening their role in global decision-making.
His Highness said: 'This initiative is more than just an opportunity to raise awareness among national talent; it is a long-term investment in empowering Emiratis to contribute to international financial institutions and offer innovative perspectives that showcase the UAE's excellence across various financial and economic domains.'
Sheikh Maktoum added, 'In the UAE, we believe that our people are our true strength and greatest asset. Through this initiative, we seek to expand our presence across global financial institutions by equipping our national talent with world-class expertise. The knowledge and expertise gained from these global opportunities will not only enhance their capabilities but also boost their contributions on regional and international fronts. This, in turn, will bolster the national economy and drive the achievement of sustainable development goals.'
Concluding his remarks, His Highness said, 'We view this initiative as a strategic bridge to reinforce collaboration with international financial bodies, while also enhancing our ability to shape global economic policy and consolidating the UAE's position as a trusted and dynamic global financial hub.'
Skills Development
For his part, His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, affirmed that the 'UAE Global Cadres' initiative will accelerate the Ministry's efforts to nurture a new generation of Emirati leaders equipped for roles in international finance.
'This initiative not only reinforces the Ministry's institutional reputation but also strengthens its position as a leading federal entity advancing the UAE government's strategic vision,' His Excellency said.
He further stated, 'The UAE Global Cadres is tailored to promote awareness of global financial institutions and the robust training and development opportunities they offer. With participants receiving high-level training in these organisations, they will acquire advanced skills, practical experience, and exposure to international best practices, preparing them to take on leadership roles within these organisations.'
Global Networks
The 'UAE Global Cadres' initiative will host educational workshops and interactive sessions, empowering Emirati participants to build international professional networks that support their career development and contribute positively to key sectors within the UAE, thereby enhancing the country's global standing.
The initiative will be implemented in partnership with leading international financial institutions. The UAE is a member of several such organisations, including the World Bank Group, the International Finance Corporation, the International Fund for Agricultural Development, the European Bank for Reconstruction and Development, the New Development Bank, the Arab Monetary Fund, and the OPEC Fund for International Development.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
8 hours ago
- Al Etihad
Presidents of UAE, Angola explore cooperation opportunities
8 June 2025 22:07 ABU DHABI (WAM) President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a phone call with His Excellency João Manuel Lourenço, President of the Republic of Angola, during which they discussed cooperation between the UAE and Angola and explored ways to strengthen ties in support of development priorities and the shared goal of sustainable growth and Lourenço also extended Eid Al-Adha greetings to His Highness, wishing him continued health and two leaders discussed a number of issues of mutual interest and exchanged views on regional and global matters. They reaffirmed their shared commitment to advancing cooperation between the UAE and African nations, particularly in the fields of development and economic partnership, in ways that support stability, promote sustainable economic growth, and help realise the aspirations of their peoples. His Highness Sheikh Mohamed bin Zayed reiterated the UAE's commitment to enhancing development cooperation with African countries, in line with its longstanding approach to building constructive and impactful partnerships that contribute to shared progress and prosperity.
Gulf Today
9 hours ago
- Gulf Today
Ministry of Economy, Dubai Police partner to strengthen cooperation
The Ministry of Economy has signed a Memorandum of Understanding (MoU) with Dubai Police General Command to strengthen cooperation and coordination in developing compliance mechanisms for anti-money laundering (AML) and combatting the financing of terrorism (CFT) requirements. The agreement facilitates the exchange and integration of information between the two entities, thus enhancing supervisory roles within the national legislative framework. The MoU was signed on the sidelines of the fourth edition of the World Police Summit, held at the Dubai World Trade Centre under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The agreement was signed by Safia Hashim Al Safi, Assistant Undersecretary for Commercial Control and Governance at the Ministry of Economy, and Major General Expert Khalil Ibrahim Al Mansoori, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police. Safia Al Safi emphasised that the UAE has made significant strides in developing advanced strategies, policies, and legislation to combat money laundering and terrorism financing in line with the highest international standards. This has further reinforced the national economy's position as a competitive trade and business hub committed to the highest standards of integrity and transparency. He noted that the partnership with Dubai Police aligns with the Ministry's vision to enhance collaboration with federal and local entities, thereby strengthening the national framework and developing mechanisms to combat financial crimes and enhance regulatory infrastructure in accordance with relevant international standards. Safia Al Safi explained that the MoU establishes a sustainable institutional framework between the Ministry and Dubai Police to collaborate on various AML/CFT procedures within the country, including control, inspection, and monitoring of illicit activities. This partnership aims to elevate the efficiency of control and follow-up systems and serves shared objectives in combating financial crimes within the country. Press Release Supporting national efforts Major General Expert Khalil Al Mansoori said: 'The MoU with the Ministry of Economy is a significant milestone in enhancing institutional integration among relevant entities involved in combating financial crimes. Dubai Police is committed to supporting national efforts to counter money laundering and combat terrorism financing by advancing its technical and human competencies. We aim to leverage Dubai Police's research, investigation, and financial analysis ecosystems to develop effective, proactive mechanisms for detecting suspicious activities and enhancing rapid responses to associated risks, in line with global best practices. This plays a role in reinforcing the UAE's position as a secure and transparent global economic hub.' He further emphasised that the collaboration marks a significant step forward in integrating national efforts and unifying resources and expertise to develop more precise and effective regulatory tools, while continuing to invest in national talent and smart technologies to build a safer and more stable environment. Counselor Salem Al Tunaiji, Director of the Anti-Money Laundering and Counter-Terrorism Financing Department at the Ministry of Economy, explained that the MoU provides advanced mechanisms for technical and security coordination between the Ministry and Dubai Police. This includes the exchange of data related to money laundering and terrorism financing crimes, aligning with the Ministry's role in supervising Designated Non-Financial Businesses and Professions (DNFBPs) and identifying the real beneficial owners of legal entities. Under the scope of the MoU, both parties will collaborate on developing integrated mechanisms and programs to elevate risk response efficiency related to suspicious financial activities within the DNFBP sector, which include real estate agents and brokers, traders of precious metals and stones, auditors, and company service providers. This will be realised through the exchange of data on suspicious transactions and activities and the activation of secure and effective institutional communication channels to ensure the swift exchange of confidential data in line with the approved legal and regulatory frameworks. These efforts support their awareness endeavours to prevent and deter violators, in line with the applicable legislations and regulations in the UAE. The MoU also outlines the implementation of joint training programs and specialised workshops aimed at enhancing the professional competencies of both parties' staff and the development of periodic analytical reports to support decision-making, ensuring the comprehensive application of administrative and regulatory procedures. Additionally, the MoU includes provisions to support awareness and media campaigns related to institutional compliance and financial crime prevention, as well as collaboration in developing relevant policies and legislation and reviewing regulatory frameworks to ensure their alignment with international requirements. Meanwhile, the Abu Dhabi Judicial Department (ADJD) organised the 'Eid Joy' initiative, which brought together well-behaved inmates of correctional and rehabilitation centres with their families in a festive atmosphere on the occasion of Eid Al-Adha.
Khaleej Times
15 hours ago
- Khaleej Times
Shaken by crises, Switzerland fetters UBS's global dream
Switzerland announced reforms on Friday to make its biggest bank UBS safer and avoid another crisis, hampering the global ambitions of a lender whose financial weight eclipses the country's economy. UBS emerged as Switzerland's sole global bank more than two years ago after the government hastily arranged its rescue of scandal-hit Credit Suisse to prevent a disorderly collapse. The demise of Credit Suisse, one of the world's biggest banks, rattled global markets and blindsided officials and regulators, whose struggle to steer the lender as it lurched from one scandal to the next underscored their weakness. On Friday, speaking from the same podium where she had announced the Credit Suisse rescue in 2023 as finance minister, Switzerland's president Karin Keller-Sutter delivered a firm message. The country would not be wrongfooted again. "I don't believe that the competitiveness will be impaired, but it is true that growth abroad will become more expensive," Keller-Sutter said of UBS. "We've had two crises. 2008 and 2023," she said. "If you see something that is broken, you have to fix it." During the global financial crisis of 2008, UBS was hit by a losses in subprime debt, as a disastrous expansion into riskier investment banking forced it to write down tens of billions of dollars and ultimately turn to the state for help. Memories of that crisis also linger, reinforcing the government's resolve after the collapse of Credit Suisse. For UBS, which has a financial balance sheet of around $1.7 trillion, far bigger than the Swiss economy, the implications of the reforms proposed on Friday are clear. Switzerland no longer wants to back its international growth. "Bottom line: who is carrying the risk for growth abroad?" said Keller-Sutter. "The bank, its owners or the state?" The rules the government proposed demand that UBS in Switzerland holds more capital to cover risks in its foreign operations. That move, one of the most important steps taken by the Swiss in a series of otherwise piecemeal measures, will make UBS's businesses abroad more expensive to run for one of the globe's largest banks for millionaires and billionaires. Following publication of the reform plans, UBS Chairman Colm Kelleher and CEO Sergio Ermotti said in an internal memo that if fully implemented, they would undermine the bank's "global competitive footprint" and hurt the Swiss economy. Strategy The reform would require UBS to hold as much as $26 billion in extra capital. Some believe the demands may alter the bank's course. "It could be that UBS has to change its strategy of growth in the United States and Asia," said Andreas Venditti, an analyst at Vontobel. "It's not just growing. It makes the existing business more expensive. It is an incentive to get smaller and this will most likely happen." Credit Suisse's demise exploded the myth of invincibility of one of the wealthiest countries in the world, home to a global reserve currency, and proved as unworkable a central reform of the financial crisis to prevent state bailouts. For many in Switzerland, the government's reforms are long overdue. "The bank is bigger than the entire Swiss economy. It makes sense that it should not grow even bigger," said Andreas Missbach of Alliance Sud, a group that campaigns for transparency. "It is good that the government did not give in to lobbying by UBS. The question is whether it is enough. We have a banking crisis roughly every 12 years. So I'm not really put at ease." UBS CEO Ermotti had lobbied against the reforms, arguing that a heavy capital burden would put the bank on the back foot with rivals. The world's second-largest wealth manager after Morgan Stanley is dwarfed by its U.S. peer. Morgan Stanley shares value the firm at twice its book value, compared with UBS's 20% premium to book. On Friday, the bank reiterated this message, saying that it strongly disagreed with the "extreme" increase in capital. But others are sceptical that the government has done enough. Hans Gersbach, a professor at ETH Zurich, said there was still no proper plan to cope should UBS run into trouble. "The credibility of the too big to fail regime remains in question."
