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Shortage of skilled staff worry GCC bankers

Shortage of skilled staff worry GCC bankers

Without enough skilled staff, banks are just about falling short of catering to increasingly demanding customers. Will the local market make up for the shortage or will banks look abroad?

November 29, 2011 4:08 by

…SME banking operations and a majority (85 percent) will continue to invest in retail banking in their domestic markets.

The survey shows that nearly 80 percent of GCC banks have either planned to invest or are:

  • Adding to their distribution networks with branches and ATMs (78 percent)
  • Integrating channels for more seamless customer experiences (74 percent)
  • Improving customer segmentation and better tailoring services (74 percent)
  • Creating and expanding mobile banking and payments capabilities (67 percent)

Of course the success or failure of these plans will hugely depend on whether the companies get the right kind of people to get execute these projects the way only the skilled and determined can.

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1 Comment

  1. MMMMMMMMMMMMM on November 30, 2011 6:40 am

    Bank will be certainly better off looking abroad:
    While Re-exports rose to 86 billion dirhams in the first half of the year from 69 billion in the same period in 2010. Dubai’s non-oil trade data exclude trade in its free zones. Concerns about Dubai’s liabilities have eased since state-owned firm Dubai World reached a deal last year to restructure almost $25 billion of debt. What is not said clearly is that in the restructuring exercise, there is no proper provision to service interest on timely basis. The UAE, which enjoys the world’s sixth highest per capita income of $47,400, has avoided popular unrest, which challenged governments in nearby Bahrain and Oman in February and March. Not for long as Dubai will need to repay, in all, about USD 26 billion to banks/institutions in the region. It will take them at least 8 years from now to come to a positive cash flow situation. In the mean time, banks operating in Dubai will be forced to write-off USD 2 billion/year for the next 4 years. But they as well as the banks operating there which have restructured the major loans will not admit to this. Enjoy the life in Dubai as in the next 4 years the number of banks operating in Dubai will be forced to reduce from the present 59 to 19 as the loss making banks would have left the shores by then (infact should leave soon if they are smart and wish to cut losses).


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