ADX INKS MOU WITH ABU DHABI UNIVERSITY
- The agreement comes within the framework of the exchange’s strategy to enhance investment awareness
- “The cooperation with ADU will yield many long-term benefits to the economy Abu Dhabi,” Rashed Al Baloushi
Abu Dhabi Securities Exchange (ADX) today signed a Memorandum of Understanding (MoU) with Abu Dhabi University (ADU) aiming at enhancing the cooperation between the two sides in the fields of institutional development, training, research curriculum development and information dissemination.
The agreement comes within the framework of ADX’s strategic plan, whereas the issue of enhancing investment awareness ranks among the top priorities as to develop Abu Dhabi’s capital market towards more maturity. The agreement was signed by Rashed Al Baloushi, ADX’s Deputy Chief Executive and Director of Operations, and Dr. Nabil Ibrahim, ADU’s Chancellor, in the presence of senior officials from both sides.
“The cooperation with ADU achieves many long-term benefits for both sides, as it serves ADX’s strategic objectives for enhancing investment awareness and supporting education through providing for the students real opportunities through new information channels and a practical experience through a trading simulator,” commented Rashed Al Baloushi.
“The cooperation can also expand in the future and develop to training programs offered by university students to third parties, such as schools and special groups, after qualifying ADU students through a variety of courses including financial markets, settlement and clearance, transparency and disclosure, corporate governance, in addition to technical issues including the trading system and hardware, all of which is to refine their practical skills,” he added.
The agreement stipulates that the two parties are to conduct seminars and workshops for ADU students aiming at explaining market procedures and the methods of trading in the domestic market, as well as the training programs for students and conducting awareness seminars for the general public.
“The cooperation between ADU and ADX achieves many long-term benefits for the local and national economies through the cooperation in preparing and publishing of academic studies and research covering the capital market in the UAE and hence supporting the graduation of the future leaderships in the fields of administration and business, and meeting the demand for specialized graduates according to the needs of the sectors targeted for development by the Emirate’s Economic Vision 2030,” Dr. Ibrahim explained.
He added that both parties acquire similar commitment to the objectives of the economic vision and that this is the first time for ADU to sign an agreement with one of the most prominent financial institutions in Abu Dhabi such as ADX.
ADX’s deputy chief executive was keen to address the importance of the cooperation with the university to prepare and publish a local investor confidence index for the stock market and the economy to be published on a regular basis, being the first precedent in the region, whereas developed countries, such as the US assign such important task to academic institutions.
The agreement also includes cooperation in qualifying cadres in the investment field, and stipulates that ADX supplies the university with historical trading records and financial data to be utilized in ADU’s education classes.
