Abu Dhabi Securities Exchange (ADX) and The Higher Colleges of Technology (HCT) signed today an agreement facilitating mutual cooperation in the fields of research, institutional development, and training. The agreement was signed at a formal ceremony held at the ADX main offices in Abu Dhabi.
Mr. Rashed Al Blooshi, Chief Executive of ADX, and Dr Abdullatif Al Shamsi, HCT Vice Chancellor, signed the Memorandum of Understanding (MoU) on behalf of their respective organizations in the presence of senior representatives from both sides.
Under the terms of the agreement, ADX will conduct seminars and workshops for HCT students aiming at explaining market procedures and the methods of trading in the domestic market, as well as both parties cooperating in qualifying cadres in the investment field, and in the training program for HCT students, in addition to cooperating in the preparation and publication of academic studies and research concerning the UAE capital markets.
The MoU forms part of ADX's commitment to support educational initiatives and to encourage and promote professional investment skills across the UAE, to the very highest international standards. It also comes in alignment with ADX’s commitment to AD Plan for developing the competencies and qualifications of jobseekers.
"I am very pleased that ADX signed this MoU with HCT," said Mr. Al Blooshi. “I believe this relationship will prove to be advantageous for both ADX and HCT, as well as for the burgeoning economy of the UAE."
ADX Chief Executive added: “This agreement will build and strengthen the ties between us in countless ways. HCT has an excellent reputation in the region, and we are very keen to collaborate with them on a number of areas of mutual interest. ADX is committed to providing a driving and supporting environment for research and technology.”
On his part, Dr Abdullatif Al Shamsi, Vice Chancellor of the Higher Colleges of Technology, expressed his pleasure for this cooperation with Abu Dhabi Securities Exchange, which will contribute to the enhancement of students’ skills in the various Business majors and enable them to apply their theoretical studies through real life experiences and actual training by specialists in the investment and finance sectors. These sectors are vital to the UAE economy and require qualified and specialized graduates.
He added that the Higher Colleges of Technology is the largest higher education in the UAE with around 25,000 male and female students enrolled in 17 campuses across the UAE. One of the HCT strategic goals is establishing and expanding partnerships and collaborations with business and industry in the UAE, which helps in preparing students and empowering them to develop their job relevant skills and experiences. Thus, they will become the number one choice for UAE employers as distinguished graduates academically and professionally.
Through the MoU, ADX will provide a virtual trading platform (Stock Game) to the students of HCT. This educational initiative is part of ADX’s aim to develop financial/investment awareness culture among students as the Stock Game acts as a model for practicing real trading in ADX, particularly for students of business majors
The Stock Game simulates actual stock markets, which was designed to train potential investors on trading and its operations. The game improves the student’s ability to invest in the market and provides them with the ability to gain experience before the actual trading.
