The Securities and Commodities Authority (SCA) and the University of Dubai (UD) have signed a Memorandum of Understanding (MoU), to boost bilateral cooperation in various areas, including professional advice, institutional support and development, human resources, and administrative and social development.
Mohammed Khalifa Al-Hadari, SCA Deputy CEO for Organisational and Support Services, signed the agreement for his side, while Dr. Issa Mohammed Bastaki, UD Director, signed for the university at a ceremony attended by a number of officials from both sides.
In a statement after the signing ceremony, Al-Hadari said that the SCA's commitment to signing the agreement is in line with translating its vision which includes boosting ties with its strategic partners, enhancing cooperation with the best educational and scientific institutions in the country and abroad and maximising benefit from locally and internationally accredited scientific programmes of those institutions with the aim of achieving its strategic and operation plans. It also aims to improve the performance of its human resources according to best international practices and develop its organisational and technical infrastructure to reflect the vision of the U.A.E.'s wise leadership of spreading the culture of creativity and excellence and adopting the best international practices, while simultaneously seeking to achieve the objectives of the U.A.E. Vision 2021.
He pointed out that the SCA deeply believes in the significance of a 'knowledge economy' supported by information technology in creating advanced methods and in investing in human resources in a way that would ensure sustainable supply for the rapidly changing labour market of the financial market in particular, and the financial sector in general.
"In view of the above, the signed MoU came to bridge the gap between scientific research and practical applications in the area of market supervision and regulation, converting knowledge and skills into wealth and unique strategic account," he said.
Dr. Issa Bastaki expressed his happiness on the signing of the MoU and described the SCA as the university's "strategic partner". He said his happiness stems from the fact that joint cooperation with leading national institutions with direct relations with the financial markets and business is within the framework of the university's commitment to showcasing the potential and capabilities of its students and improving their opportunity to work in reputable financial market institutions.
He pointed out that by signing this agreement, the UD, which is a university with deep national roots and great international aspirations and ambitions, seeks to underscore its mission of enhancing the environment of business community and government services in the U.A.E., supplying them with the expertise that the labour market needs and activating the role of government human resources by driving the latter towards administrative, financial and leadership excellence to expand the scope of its effect on the society and to generously contribute to national economic development in a drive towards a knowledge society.
According to the MoU, the two sides will cooperate in supporting and boosting the SCA's drive towards excellence in administrative, financial and leadership practices through the preparing of special training programs for SCA employees by the UD, which will also, among other things, give SCA employees partial scholarship and discount on the cost of training programmes at the university. SCA employees will also have access to UD's library, database and other available scientific materials.
The SCA, from its side, will provide training opportunities related to its activities and operations to UD students, in the form of summer internships. Furthermore, UD will nominate its students interested in joining SCA's SHARE (Supporting Human Assets for Real Emiratisation) programme or working for the latter. Selection of candidates for the SHARE programme is based on the condition that candidates have successfully passed the qualifying exams and meet other SCA conditions. UD will also nominate its final year students for the SCA-sponsorship programme, "Baraem".
The MoU enhances joint cooperation between the two sides in a number of areas, including areas of joint research, professional advice, institutional support and development in general, and administrative and human resources development in particular. The two sides will also collaborate in organising conferences, workshops, forums and training programs which will feature and discuss the latest developments and best practices in areas of mutual interest. They will also collaborate in joint programmes and projects which will enhance and improve the policies and objectives of the two partners.