Arabian Post Staff -Dubai
That progress comes as the financial sector itself expands at speed. The central bank’s 2025 annual report said banking-sector assets climbed to AED5.4 trillion, while the insurance sector’s gross written premiums rose 15.5% to AED75.2 billion and total insurance assets reached AED166.7 billion. Real GDP growth for 2025 was estimated at about 5.6%, with non-oil activity playing a larger role in overall expansion. The labour push is therefore unfolding at a time when institutions are growing, technology investment is accelerating and regulators are trying to ensure that workforce development keeps pace with the scale of change.
Stronger local talent in finance has become a central part of that agenda. The central bank said the latest phase of Emiratisation is not limited to filling vacancies, but is increasingly focused on preparing UAE nationals for technical, supervisory and leadership posts through academic and professional training delivered with the Emirates Institute of Finance. That reflects a shift in official language from simply raising headcount to building a deeper domestic skills pipeline for a sector that is becoming more technology-heavy, more tightly regulated and more closely linked to international capital flows.
The trajectory has been visible for several years. In 2024, the “Ethraa” programme exceeded Emiratisation targets in banking, insurance and other financial activities by 152.85%, placing 2,866 Emiratis against a target of 1,875 roles. Earlier central bank disclosures also showed that the share of UAE nationals in banks had improved to 33.2% in 2022, with the regulator setting a target of 45% by the end of 2026 for total employment in banks and 30% for senior executive roles. Those figures suggest the authorities are trying to combine medium-term quotas with a longer transition into higher-value positions.
Pressure to maintain momentum is likely to intensify as broader Emiratisation rules across the private sector become more demanding. Ministry guidance tied to the 2023 resolution on private-sector Emiratisation set rising compliance obligations for covered firms, including additional hiring requirements in 2024 and 2025, alongside escalating financial penalties for companies that fall short. Although banks and insurers operate under their own sector-specific frameworks, the direction of policy is consistent: Emiratisation is no longer treated as a symbolic benchmark, but as a measurable operating requirement tied to accountability.
For banks, insurers and finance companies, that creates both opportunity and strain. A growing domestic talent base can improve institutional continuity, strengthen local market knowledge and align hiring with national development goals. It can also help lenders and insurers respond to expanding activity in digital payments, open finance, climate-risk supervision and Islamic finance. At the same time, employers must compete for specialised candidates in areas such as compliance, cybersecurity, data analytics, actuarial work, risk management and product development, where experience remains at a premium across global financial centres.
The central bank’s wider strategy makes clear why this matters. Its 2025 report highlighted the growth of licensed fintech companies to 36, the rollout of the “Jisr” international settlement platform, the completion of the Digital Dirham as an official payment instrument, the activation of the “Al Tareq” open finance platform and the launch of a national financial inclusion strategy for 2026-2030. Each of those initiatives demands a workforce that can operate in a more digitised and more complex regulatory environment. Emiratisation, in that context, is being framed as part labour policy, part capability-building exercise and part economic security strategy.
The latest figures also show that the campaign is unfolding from a position of sectoral strength rather than stress. In 2024, banking assets had already reached AED4.457 trillion by the end of November, up from AED4.075 trillion in 2023, while the net non-performing loan ratio improved to 2.1% from 2.4%. Insurance premiums also rose sharply to about AED64.5 billion in 2024 from AED53.3 billion a year earlier, before moving higher again in 2025. Those gains give institutions more room to absorb training costs and longer talent-development cycles, even if the challenge of matching targets with specialist capability remains unresolved.
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