The banking and financial sector in Dubai (UAE) went through a very bad phase in the recent past. Layoffs were at the peak in 2016. One of the key factors was the technological disruptions and digitalization just like the India job market in 2017. But, with the introduction of the VAT and adapting digital technologies, the glorious days of banking jobs in Dubai are back now. Dubai has always been a preferred destination for Indians to work abroad. However, getting jobs in Dubai from India is not that straightforward. Additionally, there are plenty of Dubai job scams around. So, how to get banking jobs in Dubai? Let’s dive in deeper.
Finance and Banking Jobs in Dubai
UAE has been thinking about implementation of 5% VAT in UAE since2016. Following the introduction of new tax rules, hiring for professionals with specialist skills is on the rise. According to Gareth El Mettouri, associate director at Robert Half UAE, Digital transformation, automation diversification from the reliance on the oil industry, and the introduction of VAT has triggered a huge demand for talented candidates with excellent skills, as quoted on Gulf News. One of the most lucrative sectors is going to be the banking and financial services sector; especially Dubai. As per Paul Drum, head of policy at CPA Australia, there will be around 5,000 finance and accounting vacancies. Learn more about VAT in Dubai.
Things were tough in 2015-2016. But, things have got better now, as forecasted by IMF. More jobs and better salaries will be on the rise for the coming months. Folks who want to pursue a career in the banking and financial services domain should feel encouraged. Roles that will be hugely popular in this field are compliance officers, anti-money laundering specialists and mergers, and acquisitions (M&A) associates. “Candidates with five to ten years’ industry experience will be the most sought-after, with GCC experience proving the most valuable skill,” said Robert Half. Scopes for technical roles are also looking great. However, in this post, we will focus on the baking jobs.
Banking and Financial Services Sector in Dubai – Outlook
The career in banking and finance services offers a variety of money management services which includes customer banking, retail banking, credit operations, investment banking, marketing, public relations etc. It’s a large field with immense opportunity for growth and development. All that one needs to grow in this field is to have a bachelor degree and passion about the work, enjoying working with numbers and ability to handle customer and clients. A Master’s degree from foreign destinations like the USA or the UK would give you a tremendous boost for getting banking jobs in Dubai.
The banking sector has grown rapidly in the past few years. Its rapid advancement and growth have opened the way for many banking career opportunities across the world backed by huge wealth and earning. Moreover, the banking career is international in nature and thus brings excellent opportunity for the fresher’s and beginners to develop an understanding of the economy globally. Also, the Numbers of international and private bank setup globally have opened many opportunities for the deserving candidates. The banking and finance sector is gearing up and there is much more international and private bank to come in the near future which will bring many new jobs along, across the world. But, besides any other country, in recent times, the banking and finance jobs in Dubai has endless opportunity.
Many companies in the banking and financial sectors are located in Dubai International Financial Centre (DIFC). Therefore deserving candidate is huge in demand by the banking sector in Dubai. Banking and finance positions in Dubai include relationship manager, account manager, financial manager, director, advisor, and financial analyst, teller, telemarketer and more.
“Working in Dubai International Financial Centre“ might sound very exciting, hearing from our friends or peers, but it’s not as easy as it sounds, getting a genuine job matching with your profile becomes really tough if you are not applying through the right channel. So, therefore, the question arises here how to get Job in Banking and Finance sector in Dubai? It’s a tough task, but I have tried to make it as easy for you as possible.
How to get the Finance & Banking Jobs in Dubai
One of the best ways to find a job in Dubai banking and financial services sector is through trusted job sites. The below job sites and recruitment agencies have been selected for their 100% job guarantee reputation. You don’t want you to fall for some of Dubai jobs scams as there are many sites promising high salary with amazing lifestyle in Dubai. What they don’t mention is how difficult it is to get a job in the banking industry due to multiple rounds of interview and background verification. Applying job in Dubai was never easy. The only thing which was easy is sending your CV from anywhere in the world without any cost through internet but cracking interview, clearing application process and background verification and deep checks are not easy tasks without having right channel.
