National Bank of Fujairah invests in business training for future clients

National Bank of Fujairah (NBF) has launched “NBF GenNext,” a leadership program designed to help the sons and daughters of the bank’s corporate and institutional banking clients develop business leadership skills.

The leadership development program is intended to prepare the bank’s clients' children for when they take on important leadership roles within their family businesses.

The program was developed in conjunction with Fitch Learning, which provides learning and development services for the financial industry. NBF GenNext was launched in the bank’s Dubai offices with industry experts and NBF bank management presenting insights on how businesses can successfully sustain themselves for future generations.

NBF plans to make the free one-week program an annual client engagement event. Vikram Pradhan, NBF’s head of Corporate and Institutional Banking, said that the program is part of the bank’s philosophy of differentiated customer services.

“Kinship and family are important components of the Middle Eastern cultural heritage, and it’s a well-known fact that family businesses continue to form the bedrock of the region’s economic success,” Pradhan said. “By helping our clients develop a strong pipeline of capable young leaders that would help grow their businesses and preserve them for future generations, we are not only reaffirming once again our commitment to the local economy but showcasing the dedication and value that NBF brings to its client relationships.”

The inaugural GenNext group has 14 students, mostly freshly graduated university students who are from well-established family-run firms within the UAE.

Experts guided GenNext participants through various management and financial principles that ranged from identifying shareholder returns to developing corporate funding strategies appropriate to their particular businesses.