The Banking Executive Magazine - July 2024 Issue

With ambitious government objec- tives to integrate local Emirati talent into both public and private sectors in the UAE, the Association of Char- tered Certified Accountants (ACCA) has announced the addition of new Emirati members to its existing Mem- bers’ Advisory Committee (MAC), to support its objective of growing the number of Emirati ACCA members. According to recent statistics, expa- triate workers still constitute 92% of the workforce and Emiratis represent just 4% of the private sector work- force. As part of Emiratisation targets, private employers must include at- tracting local talent and retaining and nurturing it as a key objective. Pri- vate companies not located in the free zones, with 50 or more skilled employees, must increase the num- ber of Emirati employees in skilled jobs. Therefore, they need to meet a 1% increase every six months and ul- timately achieve a 2% Emiratisation rate by the end of the year. The new Emirati members of the Members’ Advisory Committee will advise the ACCA Council, the chief executive and the head of Eurasia and Middle East, on how best to sup- port Emirati talent in the accounting profession. In addition, the commit- tee will also advise on matters that affect the organisation, its members and students including strategic de- velopments, current and future issues affecting network members, raising ACCA’s profile and enhancing its reputation in their respective coun- tries, addressing new ideas and top- ics through courses, publications and special events, and technical issues and consultative documents. Fazeela Gopalani, Head of Eurasia and Middle East, ACCA, said: “The MAC will work closely with ACCA, acting as ambassadors within Emirati networks to ensure that Emiratis are aware of ACCA and how we can support local talent. We currently have approximately 70 UAE Na- tional members and we want to grow this number over the coming months.” “There is a need to attract new Emi- rati talent to the accounting and fi- nance professions in the UAE. Programmes such as Nafis, a govern- ment-led initiative that aims to in- crease the number of Emiratis working in the UAE private sector, is a positive step forward. As commit- tee members, we will be encourag- ing Emirati talent into the accountancy profession and will highlight the benefits ACCA can pro- vide to them. The vision of the com- mittee aligns with the UAE government's vision of increasing the percentage of Emirati skilled labour in the workforce," said Majed Al Marzooqi, Senior Analyst, Mubadala Investment Company. Key members of the committee in- clude Ibrahim AlShami, Regional Fi- nance Director at Jotun Middle East, India and Africa (MEIA); Majed Al the BANKING EXECUTIVE 40 ISSUE 187 JULY 2024 Career Chronicle ACCA ANNOUNCES THE ADDITION OF NEW EMIRATI MEMBERS TO ITS MEMBERS’ ADVISORY COMMITTEE