Travissher Job

Over the last two decades, Dubai has become the trade hub of the Middle East. There are many booming industries in the United Arab Emirates, of which banking and investment sector is a leading one. All major global banks have operation in Dubai thus establishing the city as the banking hub in the Middle East region. The sector has grown a lot in the recent past and created many banking jobs in Dubai. in fact, the banking and finance sector has led to a job boom in the country. Expatriates are being hired for jobs in the banking and finance sector in various profiles at the junior, middle and senior management levels.

The exceptionally booming economy of Dubai has attracted a lot of international as well as local attention to the city. A lot of finance has also been pumped into the city. This and other reasons have led to a lot of financial activity in the region. The expatriate population is also very high in the region. So, to cater to their banking needs, international banks have set shop in Dubai. With the increase in demand for banking and finance services, the employment opportunities in the banking sector also went up. The banks and financial institutions required qualified, world-class staff to cater to the global population in Dubai. Hence, jobs in Dubai for banking and finance opened up for professionals around the world.

In fact, the Dubai International Financial Centre  is being considered the new global financial centre. It has created vacancies in all streams of the banking and finance industry including private, investment and corporate banking to capital markets, asset management and Islamic finance. The DIFC will be like a mini-city inside the emirate of Dubai. It will offer an opportunity for professionals to live and work in the financial centre. In DIFC, there will be job vacancies in finance companies in the main six fields, which are banking services, DIFX, asset management, reinsurance, targeted service provision and Islamic finance.

Currently, there are a plethora of job opportunities in the international financial advisory sector owing to the expanding expatriate population in Dubai. The international brokerages that are functional in Dubai look after the finances, investment portfolios and wealth management activities of their clientele. This includes corporate as well as individuals. The banks and financial institutions provide corporate solutions to big and small companies functional in Dubai and also assist individual expatriates manage their offshore investing, international banking, securing international mortgages and required assistance with saving money on global health insurance cover.

If you are looking for a job in the banking and finance sector in Dubai, you require experience in the financial services industry. Even experience in high level sales or sales management is beneficial for securing a banking job in Dubai. If you have experience with an international bank already, you can easily look to get a job in Dubai. The major banks operational in Dubai are National Bank of Ras Al Khaimah., First Gulf Bank, Emirates Islamic Bank, Abu Dhabi Commercial Bank, Dubai Islamic Bank, National Bank of Dubai and many more besides international banks such as Lloyds TSB Bank, Barclays, Citibank, Standard Chartered Bank, HSBC Bank and many more.

Like any other job in Dubai, even for a banking job, you would require a sponsor to be able to work for a bank or financial institution in Dubai. Generally, your employer will be your sponsor and will look after all immigration formalities on your part, once you are hired. There would be a PRO office in the company that undertakes all such activities for expatriate workers. Also, while applying for the job, you would need an attested copy of all your educational qualifications. The notary who attests the certificates would have to be validated by the foreign office in Dubai.

Banking jobs in Dubai are quite lucrative as international banks pay well to hire quality talent. Also, since there are no personal taxes levied on the salaries, all you earn is for you to keep. Many expatriates work in Dubai banks and financial institutions to make life time savings. So, it is like enjoying the best of both worlds. While there is good money to be made, there is also enviable lifestyle that one can enjoy while working in Dubai.

Bahrain undoubtedly is the financial hub of the Middle East. It is also internationally known to be the most diversified economy in the Gulf region. Unlike other countries in the Gulf region that depend heavily on oil and gas production, in Bahrain, the contribution of this sector is merely 14% of GDP. The most thriving sector in Bahrain currently is the financial sector. Thus, there is no dearth of banking jobs in Bahrain. These financial sector jobs have been increasing as the sector has seen ample growth over the past few years and Bahrain has become an attractive career destination for qualified expatriates in this field. Other than the financial sector, other booming sectors in the region include professional services, logistics, ICT, and manufacturing sectors.

Bahrain boasts of the highest and most transparent regulatory and supervisory standards in its financial sector and has thus become the most established financial hub which has attracted investors for businesses in this field. Despite being such a small country, it has attracted a lot of foreign investment in this region as it is the tried and tested ground for banking and insurance sector. In the region, there are more than 400 licensed financial institutions which contribute nearly 27% of GDP. These institutions operate in banking, insurance and funds. Also, Bahrain is a hub for Islamic finance as the largest number of Islamic financial institutions is located in the region. Owing to these reasons banking jobs in Bahrain have become quite attractive to skilled professionals across the globe.

Bahrain banking jobs are very lucrative too. The prime reason for this is that it is a tax-free region. Thus, no taxes are levied on the compensation of an individual. This is a major puller for expatriates who throng the region to take up such jobs and make savings for a lifetime. These expatriates take up jobs on contractual basis and leave the country at the end of their term but by the time they leave, they save enough money to make the period of stay worthwhile. The quality and the standard of lifestyle offered in Bahrain are also world-class. Though one might find a huge difference in culture but with an open mind, one can enjoy the luxuries offered by the place. One has to be a little open-minded to settle well in the country and accept all the good that it has to offer.

To get a Bahrain banking job, one can apply through various mediums such as recruitment firms operating in the area, newspapers, job sites and also by directly applying to these banks that regularly advertise their vacancies on their websites. If going through a recruitment agency, it is always advisable to choose a certified agency because there are a lot of sham companies operating in this field who make unsuspecting job searchers a prey. Once short listed, the candidates have to go through a comprehensive selection procedure as the standards of selection in top financial companies are also very high. The employer becomes the sponsor of the expatriates who work in Bahrain. In your employment contract, there are other included benefits too. For instance, many employers offer housing, education for children and one annual free trip back home to employees. Considering these benefits, a banking job in Bahrain becomes a sought after one.

Despite the current economic downturn, Bahrain’s established status as the financial capital of the Middle East is ready to weather these tough times. The sector has seen a surging employment growth in Bahrain’s financial industry in the last few years. There is an emphasis on employing local Bahrainis as the country’s education system has evolved and is producing graduates ready to take up jobs. However, there is still a lot of demand for foreign workers.

Prominent financial services companies operating in Bahrain include some big international names such as AIG, American Express, Bank of China, Citibank, European Islamic Bank, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Hanover Re, HSBC, Royal Bank of Scotland, JP Morgan, Lazard, Merrill Lynch, and Standard Chartered. The expansion of these firms in the region has ensured that more and more jobs are being created each year. Apart from banking, insurance and funds are the other two branches in the finance sector that are employing expatriates in large numbers.