HSBC in deal to boost Emiratisation
Dubai, June 11, 2008
HSBC, the largest international bank in the UAE, has signed a Memorandum of Understanding (MoU) with the Higher Colleges of Technology (HCT) to boost job opportunities for UAE nationals at the bank.
The MoU signed in Dubai by Minister of Higher Education and Scientific Research and Chancellor of the Higher Colleges of Technology Shaikh Nahyan Mubarak Al Nahyan and HSBC Bank Middle East Limited chief executive officer Youssef Nasr.
A key part of the agreement is the establishment of a HSBC Professor of Financial Services. This is a three-year commitment by HSBC to sponsor one of HCT’s professors to be the ambassador for financial education by delivering sepcialised courses to HCT students.
Further, students of HCT, the largest educational institution in the UAE, will be given opportunities to develop skills and careers in the financial services industry and will undertake a range of initiatives including specialised seminars and training programmes relevant to banking.
HSBC will provide work placements for HCT’s top achievers at the bank with an opportunity to work abroad in one of HSBC’s 10,000 offices around the world, thus providing them with international exposure to the banking and the financial industry. In addition, some of HSBC employees will share their skills by delivering presentations and lectures about various lines of businesses and acting as part-time faculty at HCT.
“We welcome this strategic alliance with Higher Colleges of Technology. HSBC takes corporate sustainability very seriously and we believe we have a responsibility to contribute to the communities in which we operate through continuously engaging our employees and providing them with opportunities to give back to the community. As the world’s local bank we are able to offer international work placements to UAE nationals leveraging on the HSBC Group’s global network,” said Nasr.
“HCT has a mandate to develop the national workforce and prepare them for challenges of global workplace,” stated Dr.Tayeb Kamali, HCT vice-chancellor. “We believe this MoU will provide our students with a solid platform from which to launch successful careers in banking and to potentially build their own businesses.”
The agreement is the latest in a series of steps the bank has taken to provide employment and training opportunities to UAE nationals.
“Emiratisation has been one of our strategic objectives and our partnership with HCT comes amid our intensified Emiratisation programme which aims at attracting the very best talent in the UAE market. It is a new level in our commitment to provide unlimited opportunities for UAE nationals who want to develop their career with one of the world's leading international financial institutions,” added. Nasr. - TradeArabia News Service
More Finance & Capital Market Stories
- AAIB unit starts crisis assistance travel service
- Abu Dhabi may need to lower industry growth target
- Kuwait credit hits 5-year high; tops $1.3bn
- UAE stocks rally, Abu Dhabi tops 4,000 mark
- Abraaj completes 15 exits in 2013
- Barwa gets top HSE certifications
- Egypt's forex reserves dip to $17.8bn in Nov
- Experts put spotlight on Mena tax issues
- BMI, Muharraq SC launch co-branded credit card
- NBAD partners with top business school