UAE needs more local finance professionals – ICAEW

ABU DHABI, 05th February, 2015 (WAM)– The UAE needs more Emirati finance professionals, if it is to maintain economic prosperity and growth, according to the Institute of Chartered Accountants in England and Wales, ICAEW.

This came during the Emirati Youth Forum held as part of Tawdheef, the annual career fair and recruitment show dedicated to building a national workforce.

More than 100 top Emirati students gathered to meet and learn more about potential employers. A major focus of this year’s forum was how to enhance the attractiveness of the private sector to young Emiratis.

Speaking from the sidelines of the forum, Michael Armstrong, ICAEW Regional Director for the Middle East, Africa and South Asia, said, “A strong accountancy and finance profession is the backbone of sustainable economic growth – and this has to be supported by top local talent. With national GDP forecast to grow, accountancy and finance professionals will continue to be in high demand. Unfortunately, at the moment not enough Emiratis are choosing this career path, which will have to change if the UAE is to see real, sustainable, growth.” According to Armstrong the private and public sector need to work together to implement more schemes and initiatives to tackle this key issue for the social and economic security of the country.

“Governments, education providers and the private sector will all need to work hand in hand to change the status quo if we are going to address this,” he added. “This is why ICAEW participates in initiatives like the Emirati Youth Forum and why we work closely with our partners to deliver world class training and development programmes.” In 2010, ICAEW introduced the ICAEW Emiratisation Scholarship Scheme (IESS). The scholarship was launched under the patronage of Sheikh Nahayan bin Mubarak Al Nahayan, Minister of Culture, Youth and Community Development, to help attract top Emirati students into the accountancy and finance profession.

ICAEW, the accountancy and finance profession organisation, has been sponsoring the Emirati Youth Forum in Abu Dhabi.