An agreement facilitating mutual cooperation in the fields of institutional development, research, curriculum development, and professional training between Abu Dhabi Securities Exchange (ADX) and Emirates College of Technology was signed today at a formal ceremony held at ADX main offices in Abu Dhabi. Mr. Rashed Al Balooshi, Chief Executive of ADX and Prof Bruce Taylor, President of ECT, signed the Memorandum of Understanding (MoU) on behalf of their respective organizations in the presence of Mr Wael Al Anqar, The Chairman of ECT as well the senior representatives from both parties.
As part of the agreement, ADX will conduct seminars and workshops for ECT students aiming to explain market procedures and methods of trading in the domestic market. ADX will also provide virtual trading platforms for ECT, as well historical trading records and financial data enabling students to link the theoretical knowledge they gain in the class room to the actual practical applications of trading in the stock market, in an innovative and creative environment. Through the agreement, ADX will also provide a research grants for ECT faculty to work on applied research projects.
“I am very pleased to sign this MoU with Abu Dhabi Securities Exchange,” said Mr. Wael Alanqar. This collaboration will be a good opportunity for ECT students enrolled in financial sciences programs to benefit from knowledge and skills of ADX’s experts. At ECT we have traditionally looking for strategic partnerships that not only provide bilateral benefits but also reflect a broadly positive impact on the UAE economy”
Speaking on the occasion, Rashed Al Baloushi, CEO of ADX said: " We are in ADX highly committed toward our social responsibility to contribute in developing the UAE youth by supporting the related research activities and other strategic concerns. ADX will continuously support the academic initiatives specifically with higher education institutions. Our MOU with ECT is a real example of our concern in developing the investment awareness and among our stockholders and creating constructive cooperation with the professional sector.”
“Through this MOU, ADX and ECT will cooperate in a number of ways to enhance the ECT students’ understanding of financial markets,” said Prof. Bruce Taylor, President of ECT. “Access to ADX’s historical trading data and to a virtual trading platform will bring a valuable element of realism to our Banking and Finance curriculum. Our faculty will also support ADX with their research expertise, and especially in developing and maintaining a new index of investor confidence. We very much value our association with ADX and look forward to a long and fruitful cooperative relationship.”
Mr Wael assured that this MoU with ADX translates the college strategic mission in education, scientific research and community services. “It also reflects our commitment to enhancing aspects of joint cooperation with ADX to help built the human capital in Abu Dhabi as we prepare ECT graduates for future career”, concluded Mr Wael
According to the terms decided, the MoU will remain in effect for a three-year period, with the parties agreeing to meet at least twice annually to review and develop the action plan for collaboration.
