DFM awards winners of online stock game

Top 13 winners profit increased by 304 per cent compared to AED 13.4 million for Top 13 winners profit last year stock game

Skyline College came out on top, taking first three prizes in competition

Dubai, May 18, 2008: Dubai Financial Market (DFM) today awarded the winners of its online stock game, a game which witnessed fierce competition between students of schools, colleges and universities from across the UAE and the region.

The top 13 winners generated AED 54.156 million in "profit" during the game. Among the participating institutions, Skyline College took home the first three prizes at the competition: Shazad Ali from Skyline College secured the first position, with profits totaling AED 12.939 million; followed by Farah Sabbar with a total profit of AED 10.208 million; and Umar Akram with a total profit of AED 7.563 million.

Mubarak Al Doosari, General Coordinator, DFM Online Stock Game, said: "This is the sixth year in a row we have held the DFM online stock game, and it has continued to be a resounding success. The positive impact it has had on these students' financial education has been immeasurable."

He added: "This year we saw 28 colleges and universities participate, allowing us to reach young minds throughout the UAE and the Gulf. As Dubai rises to become a leading global centre of finance, it is more important than ever to educate future generations of investors on the intricacies of our financial exchange."

Shazad Ali, the first-place winner of the DFM online stock game and a student at Skyline College, said: "This competition is one of the most prestigious academic events that I like to participate in every year. The game allows me to learn more about the stock market, it teaches to me how to apply what I have learned at university to the market itself. This experience will help me to get the job of my choice in the financial realm. The competition was very tough within the game, but knowledge of different shares and their prices as well as my own confidence allowed me to win."

Ali Farid Hassan, a student at Ajman University of Science and Technology who came in 10th place in the game, said: "The idea behind the DFM online stock game is an impressive one because it provides students with the tools needed to navigate the complexities of the stock market and practice the different aspects of investment, including purchasing of shares, selling of shares and management of risk. The practical aspects of this game will also help students better understand the theoretical aspects of their coursework in business."

Professor Nizar Sahwneh, Skyline College, said: "This is the sixth consecutive year Skyline College has participated in the DFM online stock game. It helps students tremendously, particularly those who are studying business and who wish to understand the operations and movements of a financial exchange. Activities such as these address the theoretical and practical by combining classroom lectures with hands-on learning. Our college has incorporated the game as part of the curriculum because students' participation gives them the opportunity to look at trends in the local market and have a clearer understanding of the region's economy."

Professor Mohammad Al Shamsi, UAE University, said: "By any standard, this game has been a success. Our students and our business school faculty have benefited from their participation in the game every year. By allowing students to interact with DFM on a theoretical and practical level, they gain the necessary knowledge to enable them to deal with a financial exchange and understand the possible outlook for companies' performance in the future."

Among the participating colleges and schools, Skyline College placed first and won the Educational Institution Award. 

-Ends-

About Dubai Financial Market:
Dubai Financial Market (DFM) was established as a public institution having its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000.

For further information, please contact:
Ghaleb Zeidan 
ASDA'A Public Relations
Dubai,
UAE
Tel: +971-4-3355969
Fax: +971-4-3344556
E-mail: g.zeidan@asdaa.com

© Press Release 2008