Finance Industry Updates for Q4, 2014
Demand for money-related jobs is picking up quickly, according to a new survey from CareerBuilder. Even better, the financial services sector is enjoying a growth rate above that of other occupations with the UAE experiencing a favourable supply of jobs in the industry.
While the entire GCC and Middle East region saw an increase of an 11% employment rate, the UAE’s financial services sector experiences the highest growth expanding 40% over last year and into this year.
There seems to be a mood of confidence spreading through the senior level hiring community also as CFOs and Financial Directors see increased opportunities for expansion and the outlook across the various markets is positive also.
With the increase of trade expected in the coming year, the demand for more sophisticated and unique products in trade finance to meet the demands of the future is can bode well for the affected GCC nations and its financial institutions, particularly the impact Basel III is likely to have.
In the UAE there seems to be a relatively solid growth over the coming quarters, with real GDP forecast to expand 3.9% and 4.0% in 2014 and 2015 respectively. However, a key factor to look out for are the continued threats between the West and Iran. If not dealt with and there remains issues, this can increase the UAE’s risk profile, affecting the trade ties between the two countries.
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