Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), one of the leading Islamic banks in the region, has signed a three-year memorandum of understanding (MoU) with Emirates Institute for Banking and Financial Studies (EIBFS) to increase co-operation between the two organizations and to provide structured training and development initiatives for UAE Nationals working in the Islamic finance industry.
The MoU, signed by Abdullah Al-Shahi, Executive Vice President - Human Resources & Emiratization Division at ADIB and Jamal Al-Jassmi, General Manager of EIBFS, aims to develop new Islamic banking programs and prepare a strong UAE national workforce for the Islamic Banking Industry.
As part of the MoU, the two parties will exchange students, training programs, and expertise and will develop new Islamic banking programs at both diploma and Bachelor levels.
"We are witnessing a big shift in the Islamic banking sector therefore it is imperative to build a solid workforce to lead the growth of Islamic finance industry," said Abdullah Al-Shahi, EVP - Human Resources & Emiratization Division at ADIB. "This partnership with EIBFS presents an enormous range of benefits for ADIB's employees and it marks our on-going commitment to develop local talent. According to the MoU, ADIB will train and hire UAE Nationals enrolled in the EIBFS's program."
Jamal Al-Jassmi, General Manager of EIBFS said: "The signing of the agreement is in line with our strategy to partner with major banking institutions in the UAE in order to develop the industry and to provide additional support to the workforce in the banking field."
The MoU outlines specific areas of co-operation between ADIB and EIBFS that include the development of an educational program credit units transfer between both parties in addition providing training for students and exchange of information and knowledge.
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About ADIB:
Abu Dhabi Islamic Bank (ADIB) was established on 20th May 1997 as a Public Joint Stock Company following the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11th November 1998, and was formally inaugurated by His Highness Sheikh Abdullah Bin Zayed Al Nahyan, on 18th April 1999. The Bank carries out all contracts, operations and transactions in accordance with Islamic Shari'a principles. ADIB's mission is to offer financial solutions for the global community, and its vision is to become a top tier Islamic financial services group.
ADIB prides itself on its values which reflect the Bank's commitment to the Islamic Shari'a, and the guidelines of the Bank's practices adhere to the principles of Islam.
© Press Release 2009
