The CISI and Abu Dhabi global market academy partner to elevate financial education in UAE

 The strategic alliance will create an educational hub for financial services research and professional development in the country

Abu Dhabi: The Chartered Institute for Securities & Investment (CISI), the leading professional body for securities, investments, wealth and financial planning professionals, has signed a Memorandum of Understanding with the Abu Dhabi Global Market (ADGM) Academy with a vision to strengthen the financial services profession in the UAE. The MoU will allow the CISI to identify training needs within the financial sector and provide learning opportunities with the support of other institutions and consultancy firms in the region.

As part of its commitment to promoting integrity and ethics and raising the highest standards of professionalism, the CISI will assist the Academy in formalising study pathways which will help in developing the ADGM knowledge hub for the UAE.

“The CISI and ADGM Academy share a mutual interest in establishing educational programs that meet the ever-growing skill requirements of the profession both locally and globally. We are proud to collaborate with ADGM as its strategic partner by providing international qualifications to UAE professionals, raising standards across the profession in investment, wealth, risk management, capital markets and Islamic finance,” said Matthew Cowan, Chartered MCSI Regional Director at Chartered Institute for Securities & Investment Middle East.       

“As a member of the Abu Dhabi economy, ADGM Academy is committed to the developmental and growth of the financial services sector in Abu Dhabi and the wider UAE. We have been actively engaging the MENA community to develop purposeful and bespoke training and education programmes that address their dynamic needs. We recognise the urgency to nurture and prepare a sustainable pool of highly-skilled and productive human capital that can contribute towards the Emirate's Economic Vision, and augment Abu Dhabi's position as an international financial and investment centre. We look forward to working closely with the CISI and like-minded partners to deliver unparalleled learning and development programmes and foster the highest standards of financial professionalism, ethics and conduct in the industry, ADGM Academy is set to expand the financial literacy and expertise in the region with an aim to become the centre of human capital and talent excellence in the financial services profession,” added Hamed Sayah Al Mazrouei, Managing Director at ADGM Academy.

The partnership will also reinforce human resource management in the financial field to provide a sustainable flow of highly-skilled and productive workforce. It will also enable the Academy to work with the CISI on spearheading relevant conferences, events and research projects.

The agreement proceeded after the CISI facilitated training to the ADGM Academy on Markets in Financial Instruments Directive II (MiFID II) in 2018. Delivered by Shak Ashraf, Director at Forte Markets, a bank and treasury risk management training and consultancy firm, the three-day master course provided ADGM staff an introduction to MiFID II, the largest set of regulatory rules affecting investment firms across the European Union (EU) and other regions with European clients and product distributors.

The Securities and Commodities Authority (SCA), the UAE’s legal entity that supervises and monitors the capital markets, advocated the efforts of the CISI and ADGM, commending the impact of the newly formed partnership in driving the national agenda for economic growth.

“The SCA supports all efforts aimed at enhancing financial knowledge and cultivating a culture of investment in the UAE. As such, the SCA entered a partnership with the Chartered Institute for Securities & Investment more than ten years ago and established the Vocational Training and Rehabilitation Centre. Through this partnership, around 500 professionals in the financial sector have been qualified through training courses and programmes aimed at developing financial skills of talent in the UAE. To this end, the SCA welcomes the agreement between ADGM and the CISI. This agreement marks an important step towards the promotion of integrity, professional standards and best practices that will strengthen the UAE's position as one of the most important regional and international financial centres,” said Dr. Obaid Saif Al Zaabi, Chief Executive Officer of the Securities and Commodities Authority (SCA).

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About the Chartered Institute for Securities & Investment (CISI):        
The CISI’s mission is to help members attain, maintain and develop their knowledge and skills and to promote the highest standards of ethics and integrity in the securities and investment profession.

Based in the City of London, with origins in the London Stock Exchange, the CISI is a global organisation with representative offices in financial centres such as Colombo, Dubai, Dublin, Edinburgh, London, Manila, Mumbai and Barcelona. We work in close cooperation with regulators, firms and other professional bodies worldwide and over 40,000 examinations were sat in 81 countries in the last twelve months. With 45,000 members in 111 countries the CISI is the professional body which sets examinations and offers qualifications for those working, or looking to establish a career in the financial planning, wealth management and capital markets profession.             
For further information on the Chartered Institute for Securities & Investment contact Joseph dela Cerna: joseph.delacerna@grayling.com  | T +971 4 360 0785 | M +971 52 239 0486         

About Abu Dhabi Global Market (ADGM):
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by a UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global hub for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world. 

ADGM’s strategy is anchored by Abu Dhabi’s key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as an IFC governs Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and succeed within an international regulatory framework based on Common Law.  

Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for three consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*

For more details of ADGM, please visit www.adgm.com  or follow us on Twitter : @adglobalmarket and Linkedin : ADGM

*Source: The Global Investor Middle East and North Africa (MENA) Awards

© Press Release 2019