Dhabi Securities Market and HCT/CERT collaborate on various front

Both Institutions agree to collaborate in providing world class investment and securities qualifications to Industry professionals;
Possibility of Live Trading Facility on HCT Men's College Campus in Abu Dhabi.
Establishment of the Emirates Investment and Securities Professionals Associations on the Cards.
ADSM may also sponsor a Higher Diploma Program in Investment and Securities at the HCT

Dr Tayeb A Kamali, Vice Chancellor of the Higher Colleges of Technology and Vice Chairman of the Center for Excellence in Applied Research and Training (CERT) and Mr Hareb Masaood AlDarmaki, Chairman of the Abu Dhabi Securities Market (ADSM), on Wednesday signed an MoU, whereby CERT and ADSM will collaborate to enhance the quality of the Capital and Securities Industry in Abu Dhabi and the UAE..

As Dr. Tayeb Kamali, explained, "The Higher Colleges of Technology and CERT have been at the forefront of many world class initiatives, and we are committed to establishing a highly trained and professional workforce to support Abu Dhabi's emerging capital markets. We are embarking on an ambitious and serious plan to provide the highest quality education and training to the ADSM. We look foreword to aiding the ADSM in achieving global success and recognition while continuing to develop a professional and highly productive UAE National workforce. Our ultimate aim is to create a world class environment here in Abu Dhabi and the UAE, so we are right amongst the top in terms of quality and expectations."

CERT will help ADSM in designing, developing, delivering and administering professional qualifications, programs and courses, for investment and securities professionals in accordance with international standards. The programs will be benchmarked and accredited to international qualification and certification bodies. Through these programs, ADSM hopes to develop a highly trained cadre of UAE investment and securities professionals, stock brokers, investment and financial advisers, thus enabling the development of both the securities market and the national workforce.

'In addition to providing training and program delivery, we aim to develop an investment diploma program in order to create a qualified UAE National workforce that is capable of meeting the needs of the emerging financial market in Abu Dhabi. By providing the highest quality training and development we seek to ensure global recognition for the ADSM' said Dr. Tayeb Kamali, HCT?s Vice Chancellor

The development of capital markets in general and the ADSM in particular is of very significant importance to the economy of the UAE and the Region, as it provides a world class forum to unite businesses with investors. The recent GCC summit and the drive towards Regional Economic homogeneity will be further strengthened by this move towards building a strong, viable financial services sector in the UAE.

ADSM's Chairman, Mr Hareb AlDarmaki, highlighted the benefits of the MOU.

'ADSM welcomes this MOU with CERT as both organizations have a common commitment to excellence in our respective fields. The relationship will strengthen our ability to improve the education and training of the people the UAE and support the needs in the capital markets and financial sector generally.

The reputation and credibility of ADSM in the local capital market and the established performance of CERT, through HCT, in providing education and training will be a powerful combination to help build a stronger national workforce in the sector'.

ADSM and CERT will also actively explore the possibility of locating an active, fully live and functional Trading Hall and Facility at the premises of the Abu Dhabi Men's College, through which students will learn to apply the skills that they learn and gain real world experience. The facility could also act as a back up for ADSM's main Trading Facility as well.

The two organizations will also collaborate on a another long term and sustainable initiative by jointly establishing a professional association for investment, finance and securities professionals and organizations, which would then take over the role of qualifying industry professionals in line with international, regional and local needs and requirements. This association will also provide a high quality forum to UAE Nationals, interested in career oaths and development opportunities in the sector. Mr AlDarmaki added, 'An Association for investment professionals will benefit of the whole of the UAE; we aim to support the professional development and continuing education of people in the sector'.

Towards this end CERT will also help and support ADSM in organizing and hosting world class conferences, the first of which is planned for the first quarter of 2006.

'We hope that this conference will bring together the world's top investment and securities professionals and focus on current issues and trends in the markets', said Dr Kamali.