The Emirates Institute of Finance (EIF), the region’s leading institute for education and training in finance, has announced the establishment of the Exchange Sector Advisory Committee (ESAC), aimed at driving Emiratisation in the exchange sector.

The committee will work towards implementing the Central Bank of UAE’s directive of achieving 30% Emiratisation across the exchange houses in the country by 2027, with the aim to benefit over 500 Emiratis with employment in exchange houses every year.

The committee’s roles include suggesting the evolving learning and development requirements of the sector, approving learning solutions developed by EIF in consultation with the industry, supporting EIF in engaging the whole exchange sector across various functional levels, representing the industry in various forums and meetings including engagements at the Central Bank of UAE, highlighting opportunities, challenges, and other actionable items for review of the Central Bank of UAE, and contributing to industry research, events, and other engagements of importance to the Institute and the Central Bank of UAE.

ESAC comprises seven members with diverse backgrounds and expertise in the exchange sector, including Mr Shamil KP, Administration Manager – Foreign Exchange and Remittance Group (FERG); Mr Mohan Shetty, General Manager – HR & Admin, Orient Exchange; Mr Sheetal Subhash, Group CHRO – Al Fardan Exchange; Ms Kristine De Leon, Senior HR Business Partner – Al Rostamani Group; Ms Fatma Al Sarrah, Head of Human Resources – Wall Street Exchange; Vice Chairman elected: Mr Sai Krishnan, HR Manager – Lulu Exchange; and Chairman elected: Ms Georgette Yousef, Group CHRO – Al Ansari Financial Services.

During the first meeting, the committee discussed the role and responsibility of the committee, the proposed learning plan, challenges faced by the UAE Nationals, and the plan for a career fair for recruitment.

The learning plan is designed to enable professionals in the exchange field and includes critical areas for the exchange sector such as compliance, audit, treasury, finance, HR, project management, cybersecurity, data analytics, fintech/ digital, software, and IT infra and network.

“I firmly believe that UAE Nationals are the heartbeat of this nation. It is imperative that we provide platforms and resources to ensure they succeed in the sectors they are truly passionate about. The Emirates Institute of Finance offers UAE Nationals a lifetime opportunity of learning and equips financial institutions such as Al Ansari Financial Services and others across the UAE with high caliber Emirati talent,” said Georgette Yousef, Group CHRO – Al Ansari Financial Services and Chairman Elect of the Exchange Sector Advisory Committee.

“The Emirates Institute of Finance has taken a significant step towards promoting Emiratisation in the exchange sector with the establishment of the Exchange Sector Advisory Committee,” said Mr Sai Krishnan, HR Manager – Lulu Exchange and Vice Chairman Elect of Exchange Sector Advisory Committee. “As a proud member of this committee, LuLu Exchange is honoured to contribute to this important initiative aimed at increasing the participation of UAE Nationals in the exchange sector. Through this committee, we will work to develop opportunities for training and professional development, promote job openings, and encourage young Emiratis to consider careers in this field. These efforts will not only create employment opportunities for UAE nationals but also contribute to the overall growth and development of the exchange industry.”

Noura Alblooshi, Acting General Manager of EIF, said: “We are proud to establish the Exchange Sector Advisory Committee aimed at driving Emiratisation in the exchange sector. The committee members represent the best and brightest in the exchange sector, and their expertise will be instrumental in guiding our efforts to promote the professional development of UAE Nationals in critical areas of the industry. Through this initiative, we are committed to supporting the UAE’s strategic vision of building a knowledge-based economy and promoting sustainable growth, while also creating meaningful employment opportunities for Emiratis. We look forward to working closely with the committee to drive positive change and ensure the long-term success of the exchange sector.”