Author: Geetika Jain
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 (DIFC) 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 (exchange), 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 (RAKBank), 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.
About the Author:
Geetika Jain writes on behalf of NaukriGulf.com, a leading job portal forjobs in Gulf Region, banking Jobs in Dubai, Middle East jobs. Naukri.com's foray into the Middle East is an Endeavour to provide established client base with services that best meet their international requirements as well as expand our operations on to a global arena.
Article Source: ArticlesBase.com - Banking Jobs in Dubai
Jobs in Dubai include information technology, construction, engineering, media, medicine, oil and gas...
Dubai Jobs - The Impact of Labor Laws
By Ahmed Juma
Finding the perfect job in Dubai can offer its own set of unique challenges. The UAE has not been immune to the global economic crisis and competition for available jobs is stiff. In addition, labor laws in the UAE can be confusing and seem to be in a constant flux. By educating themselves on the basics of UAE labor law, employees can avoid many common pitfalls that may arise during their time working in Dubai.
Rights that job seekers take for granted in their home country may not necessarily apply in Dubai. For example, there are no anti-discrimination laws in effect and employers can request anything from a certain nationality or age group to a certain appearance. There is also no minimum wage. An employee's nationality is often a determining factor in the amount of pay offered, with Europeans and Arabs on the higher end of the scale and Asians on the lower end. Because changing jobs in Dubai is not a straightforward process, it is a common (although illegal) practice for some employers to hold employee passports as security against absconding.
An expatriate's right to live and work in the UAE is tied to their sponsor, in this case the employer. Once a job seeker is hired, an employment contract will be signed. The contract is either fixed term or unlimited term. A fixed term contract means that there is a specified start date and end date. The contract cannot exceed three years, but can be renewed. Unlimited term contracts list a start date but are open-ended. They may be terminated by mutual consent or by either party giving 30 days notice. A new employee may undergo a probationary period of not more than six months. During this time the employee can be dismissed without reason or notice and he or she will not be entitled to any end of service benefits. Contracts may also include a competitive clause which states an employee cannot work for a competitor for up to two years.
Once a contract is signed the employee is legally bound to fulfill it. While laws regarding sponsorship have eased, allowing employees some movement between jobs if certain conditions are fulfilled, it still can be a challenging process. In most cases, in order to transfer to a new job the employee must complete one full year of service at their current position and obtain an NOC (No Objection Certificate) from their current employer. The NOC states that the employer releases the employee from any contractual obligations. If an employee's work permit is cancelled without the NOC, a six month ban will be issued against the employee.
This means that while they can reenter the UAE on a visit visa during the ban, they will not be issued a new work permit for six months. There are certain categories of workers who are exempt from these rules, including employees of government departments and Free Zone areas (such as Dubai Media City, Knowledge Village, and Internet City). Free Zone workers are not under an individual company's sponsorship, but under the sponsorship of the entire Free Zone area itself. As such, they can transfer to a new job within the same Free Zone without an NOC. Employees sponsored by their spouses also have greater freedom of movement between jobs.
While Dubai offers an exciting, multi-cultural work environment coupled with tax free income, employees do need to be aware of how job regulations can affect them. The government of Dubai is currently reviewing labor laws, particularly the six month ban rule, in light of the current global economy. Changes giving workers more rights and greater flexibility to move from one job to another may be on the horizon.
Ahmed Juma is a local UAE businessman and the owner of Emirates-Ads, a free UAE classifieds site with extensive listings of jobs in Dubai.
Article Source: http://EzineArticles.com/?expert=Ahmed_Juma
http://EzineArticles.com/?Dubai-Jobs---The-Impact-of-Labor-Laws&id=2457521
Finding the perfect job in Dubai can offer its own set of unique challenges. The UAE has not been immune to the global economic crisis and competition for available jobs is stiff. In addition, labor laws in the UAE can be confusing and seem to be in a constant flux. By educating themselves on the basics of UAE labor law, employees can avoid many common pitfalls that may arise during their time working in Dubai.
Rights that job seekers take for granted in their home country may not necessarily apply in Dubai. For example, there are no anti-discrimination laws in effect and employers can request anything from a certain nationality or age group to a certain appearance. There is also no minimum wage. An employee's nationality is often a determining factor in the amount of pay offered, with Europeans and Arabs on the higher end of the scale and Asians on the lower end. Because changing jobs in Dubai is not a straightforward process, it is a common (although illegal) practice for some employers to hold employee passports as security against absconding.
An expatriate's right to live and work in the UAE is tied to their sponsor, in this case the employer. Once a job seeker is hired, an employment contract will be signed. The contract is either fixed term or unlimited term. A fixed term contract means that there is a specified start date and end date. The contract cannot exceed three years, but can be renewed. Unlimited term contracts list a start date but are open-ended. They may be terminated by mutual consent or by either party giving 30 days notice. A new employee may undergo a probationary period of not more than six months. During this time the employee can be dismissed without reason or notice and he or she will not be entitled to any end of service benefits. Contracts may also include a competitive clause which states an employee cannot work for a competitor for up to two years.
Once a contract is signed the employee is legally bound to fulfill it. While laws regarding sponsorship have eased, allowing employees some movement between jobs if certain conditions are fulfilled, it still can be a challenging process. In most cases, in order to transfer to a new job the employee must complete one full year of service at their current position and obtain an NOC (No Objection Certificate) from their current employer. The NOC states that the employer releases the employee from any contractual obligations. If an employee's work permit is cancelled without the NOC, a six month ban will be issued against the employee.
This means that while they can reenter the UAE on a visit visa during the ban, they will not be issued a new work permit for six months. There are certain categories of workers who are exempt from these rules, including employees of government departments and Free Zone areas (such as Dubai Media City, Knowledge Village, and Internet City). Free Zone workers are not under an individual company's sponsorship, but under the sponsorship of the entire Free Zone area itself. As such, they can transfer to a new job within the same Free Zone without an NOC. Employees sponsored by their spouses also have greater freedom of movement between jobs.
While Dubai offers an exciting, multi-cultural work environment coupled with tax free income, employees do need to be aware of how job regulations can affect them. The government of Dubai is currently reviewing labor laws, particularly the six month ban rule, in light of the current global economy. Changes giving workers more rights and greater flexibility to move from one job to another may be on the horizon.
Ahmed Juma is a local UAE businessman and the owner of Emirates-Ads, a free UAE classifieds site with extensive listings of jobs in Dubai.
Article Source: http://EzineArticles.com/?expert=Ahmed_Juma
http://EzineArticles.com/?Dubai-Jobs---The-Impact-of-Labor-Laws&id=2457521
10 Best Work in Dubai, UAE Guides
Author: Worker In Dubai UAE
For a work in Dubai, one cannot always risk any problem to be encountered because labor laws in Dubai and in the Emirates as well are very strict. Offering a TAX-FREE employment, Dubai is the place to work in today. A one time opportunity to work in probably the world’s most industrialized mega and most advanced structures existing today would be a big loss. So here’s a few simple 10 Best Work in Dubai Guides to help those who need and will be working there.
If you find any wrong information here, please feel free to contact me using my profile here at Articles Base or make a comment and include your corrections and I’d be happy to make the necessary changes. Thank you.
About the Author:
See more available JOBS IN DUBAI, UAE by visiting our -Work in Dubai- website.
If you are an OFW, please SEE MY BLOG about -Jobs in Dubai- or the JOB CATEGORY PAGE for more jobs. Article Source: ArticlesBase.com - 10 Best Work in Dubai, UAE Guides
For a work in Dubai, one cannot always risk any problem to be encountered because labor laws in Dubai and in the Emirates as well are very strict. Offering a TAX-FREE employment, Dubai is the place to work in today. A one time opportunity to work in probably the world’s most industrialized mega and most advanced structures existing today would be a big loss. So here’s a few simple 10 Best Work in Dubai Guides to help those who need and will be working there.
- Work Permit - Work permit and residency visa is required. Employers take care of this particular need but as a worker, you have to make sure you have one.
- Temporary Working Visa - The period of stay in this visa will vary based on which country you come. For particulars, feel free to check in the local UAE embassy regarding the rules that govern this particular.
- Passport Issues - A prime requisite before getting a work permit. Fake passports can cause total ban to work in Dubai.
- Labor Contract - A labor contract in 3 copies is needed. May be written in English or Arabic. Has to be approved by the Labor Ministry to make sure that you are in the right terms with your company and recruitment agency and that they are well informed of all your contract terms. Has to clearly state the 60-day renewal period for your labor card.
- Labor Card - This has to be valid up to 3 years and is applied as soon as you work in Dubai or any Emirates member. Cancellation of your labor card would mean invalidity to apply for a work permit.
- Tax-Free Jobs - Direct personal taxation is against the law in Dubai which means salary is fully remitted to workers.
- Free Trade Zones - The free-trade zones in Dubai make it easy for world business investors to jump in which creates a stable pool of jobs for people from around the world. Right now there are 15 free trade zones and counting.
- Company to Work - Should be duly licensed and registered business in the Ministry of Labor. Check for this and make sure to avoid getting scammed.
- Deportable Diseases - There are 4 deportable diseases in Dubai today namely, Tuberculosis (TB), AIDS or HIV virus, Hepatitis B and Hepatitis C (the latest to come in the list).
- Renting Place to Stay - Renting an apartment alone in Dubai is really costly and one of the mostly bypassed information for workers looking to work in Dubai. If you are interested to save on this, look for people who live together like same nationalities you have and live with them. This will save you a few bucks to your pocket.
If you find any wrong information here, please feel free to contact me using my profile here at Articles Base or make a comment and include your corrections and I’d be happy to make the necessary changes. Thank you.
About the Author:
See more available JOBS IN DUBAI, UAE by visiting our -Work in Dubai- website.
If you are an OFW, please SEE MY BLOG about -Jobs in Dubai- or the JOB CATEGORY PAGE for more jobs. Article Source: ArticlesBase.com - 10 Best Work in Dubai, UAE Guides
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