The GCC's slightly tougher stance on expat workforce
The GCC's reliance on expatriate talent is no secret, nor is the region's desire to eventually succeed them with skilled locals - hence the ongoing localization initiatives. However, some recent policy amendments suggest GCC governments are beginning to toe a tougher line.
The first one comes from Dubai, which has reiterated its intention to enforce strict limits on the amount of time expats can spend outside of the UAE and still expect to get back in. Now, if expats remain beyond the emirate's borders for more than six months, they'll be refused re-entry and have to apply again for a residency visa.
This rule has always been in place, but the government's enforcement of it has been lax. But, as Major General Mohammed Ahmad Al Merri, director general of Dubai Department for Residency and Foreign Affairs, is keen to point out - things have changed.
This sends a clear message to the supposedly legions of expat bankers who have hopped on a plane home when the GCC market began to sour earlier this year. They shouldn't assume they can simply return to Dubai and start again when the situation picks up.
Another change comes from Kuwait, and is decidedly more radical in its thinking. The state has revealed plans to limit the amount of time expats can stay in the country - six years for unskilled workers, eight years for those with 'medium' expertise and 12 years for high-skilled professionals (which is where financial services workers come into the equation).
To be fair, few expat bankers have traditionally viewed the GCC as a particularly long-term assignment any way, but this development would hamper recent efforts to make the region an attractive destination for big-hitter talent.
The quota of locals required within the private sector of most GCC states has been on the up in recent years, meaning that due to the comparatively limited pool of expertise, pay for nationals within the banking sector has been driven up.
Most banks now have graduate training programmes in an attempt to nurture a pipeline of local talent, so perhaps Kuwait's move could simply be viewed as providing a timeline for eventual succession plans.
