| With the impending job cuts at EmiratesNBD and a less than rosier outlook for Emirates Islamic Bank, you may be persuaded to think the banking sector in the UAE is in for a toss. But you would be wrong.
It is been a tough week for banking this week and as a rather gloomy forecast in today’s The National predicts, it is not going to get any better. Yesterday the local press was rocked with rumours that the UAE’s largest bank Emirates NBD is looking to cut 15 percent of its workforce to “reduce costs”- the job cuts will affect up to 700 employees. The redundancies are expected to be carried out this month...............................................Full Article: Source
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