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Banking Jobs in Dubai |
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Dubai, known as ‘Oasis in the Desert’ and ‘City of Gold’, offers diverse array of banking jobs to the job seekers. Over the last three decades, Dubai has been changed dramatically and it has now become the most important business hub with dynamic and diversified economy. Its strategic location has played an important role to make it as the leading re-exporting centre in the Middle East. Being one of the seven Emirates of United Arab Emirates (UAE), Dubai is sited in the Persian Gulf along its southern coastline, on the Arabian Peninsula. Boasting approximately 2,262,000 people, this is the largest of all the cities of the United Arab Emirates. As far as area is concerned, the city is the second largest, preceded by Abu Dhabi. Dubai has now earned international acclamation for its banking industry and global investing. The key reason of flourishing banking industry in Dubai is that the laws of commerce are ideal for the investors and it encourages tax free investment.
Economy of Dubai
Open and free economy of Dubai allures businesses and investors from various parts of the world. The economy gets further boost by the ports and natural resources. Petroleum and natural gas has a contribution of some 3% of the UAE's gross domestic product. The banking and financial centers of Dubai are set in the port area which add more fuel to the economy of Dubai. There is very minimal control and regulation in private sector activities by the government. Moreover, Dubai is among those countries where no direct taxes need to be paid on personal income or corporate profits (other than the oil companies). There is a flat rate of 55% tax on net profit generated within Dubai for the oil companies, while for the branches of foreign banks the rate is a flat 20% on net profit earned within Dubai.
As far as customs duties are concerned, it is as low as 4% and there are also various exemptions. Dubai permits 100% repatriation of capital and profits. Another most important thing is that there are no foreign exchange controls as well as trade quotas or barriers. Between the US Dollar and the UAE Dirham there is a stable exchange rate (US$1.00=AED 3.678). The country endorses liberal visa policies which encourages workforce from all part of the world to come for jobs in Dubai.
Industries in Dubai
Dubai government has set up separate industry specific free zones all across the city. The growing economy of Dubai is greatly advanced by these economic free zones. IT, finance, and tourism are the key industries in Dubai. World renowned information technology companies like IBM, Oracle Corporation, Microsoft, and EMC Corporation are located in the Dubai Media City and in the Dubai Internet city. A number of media organizations such as CNN, MBC, AP, ARY and Reuters have also been concentrated in this part of the city.
Why Dubai is paradise for Investment and Banking Industry?
Many factors are there which make Dubai an ideal place for banking industry. Affable investment climate and vibrant and promising market economies as well as excellent blend of cost, market and environmental advantage are considered to be the key reason for making Dubai as banker’s paradise. Those who are looking for banking jobs, for them Dubai is perhaps the best place to be in.
Different Banking jobs in Dubai
For those who are looking for banking jobs in Dubai, the emerging banking and finance sector offer employment opportunities in various profiles. The pay package of these positions is quite lucrative. Banking jobs in Dubai are available in following positions –
- Customer Service Assistant
- Telesales Consultant- Banking
- Credit and Risk Analyst
- Management Trainee/ Fresher
- Business Development Executive
- Home Advice Specialist, Consumer Banking
- Business Delivery Manager
- Finance Assistant/ Executive
- Accounts Assistants
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- Bank Tellers
- Marketing and Sales Executives
- Credit Control Manager
- Relationship Managers
- Litigation Managers, Investment Banking
- Client Service Manager
- Manager Finance
- Personal Bankers
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Banks in Dubai
Banking jobs in Dubai are available in a large number as many are located in this beautiful city. There are both native and foreign banks in Dubai. In fact, almost all the global banks also have set up their branches and offices in this emirate. There are some banks that strictly follow the Islamic code of conduct. These banks follow the Hadiz / Hadij which is the Muslim code of conduct. Since usury is prohibited in the Muslim social laws, the customers are offered a gift payment by the Dubai banks. Banks in Dubai are separated into two types – The Islamic Banks, and Commercial Banks.
Following are the Islamic Banks in Dubai:
- Sharjah Islamic Bank
- Abu Dhabi Islamic Bank
- Dubai Islamic Bank
- Emirates Islamic Bank
- Islamic Commercial Bank
Commercial banks in Dubai are –
- Habib Bank A.G. Zurich
- Arab Bank Plc
- Bank Melli Iran
- Bank Muscat Al Ahli Al Omani
- Bank Saderat Iran
- Bank of Bahrain & Kuwait
- Habib Bank Limited
- Al Ahli Bank of Kuwait
- American Express Bank Ltd.
- Arab African International Bank
- Banque Paribas
- Banque du Caire
- HSBC Financial Services
- Barclays Bank P.L.C.
- HSBC
- Cedel Bank
- Citibank N.A.
- Commercial Bank International Plc
- Bank of Baroda
- Bank of Sharjah
- Arab Bank for Investment & Foreign Trade
- Core States Bank
- Credit Suisse
- Dresdner Bank
- Dubai Islamic Bank
- Emirates Bank International Ltd.
- U.A.E. Central Bank
- UBS AG
- Abu Dhabi Commercial Bank
- Lloyds Bank PLC
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- Banque Libanaise pour le Commerce
- Commercial Bank of Dubai Ltd.
- Emirates Industrial Bank
- First Gulf Bank
- Standard Chartered Bank
- National Bank of Sharjah
- National Bank of Umm Al Quwain
- Mashreq Bank
- Merrill Lynch Bank Suisse
- Middle East Bank Ltd.
- Union National Bank
- United Arab Bank
- United Bank Ltd.
- Westdeutsche Landsbank
- Investment Bank for Trade & Finance
- Janata Bank
- National Bank of Fujairah
- National Bank of Ras Al-Khaimah
- Arab Emirates Investment Bank Ltd.
- Bank Brussels Lambert
- Banque Banorabe
- Banque Indosuez
- Philippine National Bank
- Royal Bank of Canada
- Societe Generale
- ABN-AMRO Bank
- ANZ Grindlays Bank
- National Bank of Abu Dhabi
- National Bank of Dubai Ltd.
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Location of Major Banks in Dubai
Branches of all the major national and international banks are located in Dubai. ABN-AMRO Bank NV is located on Khaleed Bin Waleed Street of the city, while Abu Dhabi Commercial Bank Ltd. is positioned on Al Reqqa Street, Dubai. American Express Bank Ltd is sited in Hermitage Building, Arab African International Bank is in Art Tower, and HSBC Bank Middle East Limited is in the HSBC Bank Building. National Bank of Dubai Ltd. (NBD) is positioned on Baniyas Road, Deira,while Standard Chartered Bank is on Al Mankhool Road of the city.
Available Jobs in Top Dubai Banks
U.A.E. Central Bank - This is the central bank of the United Arab Emirates. The bank offers various job positions to the eligible candidates. Some of the available positions in this bank are –
1. Assistant Accountants
2. Accounting Clerks
3. Chartered Accountants
4. Financial Analysts
5. Compliance Officers
6. Internal Auditors
Those who want to apply for these jobs can visit www.centralbank.ae.
First Gulf Bank – This is one of the major banks in the UAE and well renowned for its services. Like other top Dubai banks, First Gulf Bank also offers diverse job positions. To learn about available job positions, salary and other related issues, interested candidates can visit www.fgb.ae.
Sharjah Islamic Bank – Whether it is Retail Banking, Corporate Banking or Investment Banking, Sharjah Islamic Bank or SIB is one of the leading banks in Dubai. Headquartered in Sharjah, UAE, SIB offers array of banking jobs in various level. These are as follows:
1. Purchase Manager
2. Credit Administration Officer
3. Senior IT Auditor
4. Product Support Analyst
5. Head Teller
6. Customer Service Representative
7. Customer Service Officer
8. Branch Operations Officer
To learn more about eligibility and pay package, interested candidates can visit www.sib.ae.
Emirates Islamic Bank – The bank has branches in almost all part of the city. Those who are looking for banking jobs in Dubai, they can mail their resumes to IBHRS@emiratesislamicbank.ae.
Dubai Islamic Bank – This is the world's first fully-fledged Islamic bank. Candidates, who are talented and have an urge to work in banking industry, for them, Dubai Islamic Bank offers plenty of career opportunities. Some of the most coveted banking jobs offered by Dubai Islamic Bank are –
1. Assistant Manager – Financial Reporting
2. Expense Analyst
3. Manager Credit Control (UAE National)
4. Sr. Recruitment Officer (UAE National)
5. Recruitment Manager (UAE National)
6. Branch Manager–UAE National
Interested candidates can learn more about available job positions by exploring the website of the bank (www.dib.ae).
Commercial Bank of Dubai – Headquartered in Dubai, CBD is one of the leading banks in the UAE. The bank has a number of brances all over the city. For available job positions, visit www.cbd.ae.
Apart from above mentioned financial institutions, many banking jobs in Dubai are available in other banks as well.
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