- An MoU has been signed between the CISI and Abu Dhabi Global Market Academy to bolster the financial services profession in the UAE through globally recognised certifications
- The strategic alliance will create an educational hub for financial services research and professional development in the country
Abu Dhabi UAE, 07 August 2019 – The Chartered Institute for Securities & Investment (CISI), the leading professional body for securities, investments, wealth and financial planning professionals, has signed a Memorandum of Understanding with the Abu Dhabi Global Market (ADGM) Academy with a vision to strengthen the financial services profession in the UAE. The MoU will allow the CISI to identify training needs within the financial sector and provide learning opportunities with the support of other institutions and consultancy firms in the region.
As part of its commitment to promoting integrity and ethics and raising the highest standards of professionalism, the CISI will assist the Academy in formalising study pathways which will help in developing the ADGM knowledge hub for the UAE.
“The CISI and ADGM Academy share a mutual interest in establishing educational programs that meet the ever-growing skill requirements of the profession both locally and globally. We are proud to collaborate with ADGM as its strategic partner by providing international qualifications to UAE professionals, raising standards across the profession in investment, wealth, risk management, capital markets and Islamic finance,” said Matthew Cowan, Chartered MCSI Regional Director at Chartered Institute for Securities & Investment Middle East.
“As a member of the Abu Dhabi economy, ADGM Academy is committed to the developmental and growth of the financial services sector in Abu Dhabi and the wider UAE. We have been actively engaging the MENA community to develop purposeful and bespoke training and education programmes that address their dynamic needs. We recognise the urgency to nurture and prepare a sustainable pool of highly-skilled and productive human capital that can contribute towards the Emirate's Economic Vision, and augment Abu Dhabi's position as an international financial and investment centre. We look forward to working closely with the CISI and like-minded partners to deliver unparalleled learning and development programmes and foster the highest standards of financial professionalism, ethics and conduct in the industry, ADGM Academy is set to expand the financial literacy and expertise in the region with an aim to become the centre of human capital and talent excellence in the financial services profession,” added Hamed Sayah Al Mazrouei, Managing Director at ADGM Academy.
The partnership will also reinforce human resource management in the financial field to provide a sustainable flow of highly-skilled and productive workforce. It will also enable the Academy to work with the CISI on spearheading relevant conferences, events and research projects.
The agreement proceeded after the CISI facilitated training to the ADGM Academy on Markets in Financial Instruments Directive II (MiFID II) in 2018. Delivered by Shak Ashraf, Director at Forte Markets, a bank and treasury risk management training and consultancy firm, the three-day master course provided ADGM staff an introduction to MiFID II, the largest set of regulatory rules affecting investment firms across the European Union (EU) and other regions with European clients and product distributors.
The Securities and Commodities Authority (SCA), the UAE’s legal entity that supervises and monitors the capital markets, advocated the efforts of the CISI and ADGM, commending the impact of the newly formed partnership in driving the national agenda for economic growth.
“The SCA supports all efforts aimed at enhancing financial knowledge and cultivating a culture of investment in the UAE. As such, the SCA entered a partnership with the Chartered Institute for Securities & Investment more than ten years ago and established the Vocational Training and Rehabilitation Centre. Through this partnership, around 500 professionals in the financial sector have been qualified through training courses and programmes aimed at developing financial skills of talent in the UAE. To this end, the SCA welcomes the agreement between ADGM and the CISI. This agreement marks an important step towards the promotion of integrity, professional standards and best practices that will strengthen the UAE's position as one of the most important regional and international financial centres,” said Dr. Obaid Saif Al Zaabi, Chief Executive Officer of the Securities and Commodities Authority (SCA).
PHOTO CAPTION: Left to right - Matthew Cowan, CISI Regional Director, Mr Khalid Alsuwaidi, Chief Oerating Officer ADGM and Mr Hamad Sayah Al Mazrouei, Managing Director ADGM.
Press release in Arabic