Lets not forget the FTLs they're trying to increase....
Its a disgrace the whole system. I'm not quite sure on how this scenario would play out but imagine your a European pilot, you leave for the sand pit, do 10 years. You've converted your UK or EASA licence to the UAE one. Now its time to come back....I'm guessing you will be in the same situation as any 'foreign' pilot wishing to exercise his skills on European soil?
The only good part about this new licence is TR's stay on your licence for life subject to refresher/revalidation courses.