The Commercial Bank of Dubai has signed a Memorandum of Understanding with the Higher Colleges of Technology, as part of CBD’s mandate to attract UAE nationals, and develop their skills to empower them to play a greater role in the banking sector.
The MoU was signed by Dr Saoud Al Mulla Director of the Higher Colleges Technology Dubai and Yaqoob Yousuf Hassan, deputy chief executive of CBD.
Under the MoU, the bank will open an outlet in the Student Centre complex at HCT-Dubai Men’s College (DMC). It will be established with the aim of developing UAE nationals and preparing them for a rewarding career in the banking industry, as it will provide hands-on work experience and professional training to DMC students, enhancing their employment prospects.
Speaking at the MoU signing, Dr Saoud Al Mulla, Director of the Higher Colleges of Technology, Dubai Colleges praised the Commercial Bank of Dubai for its initiatives to assist young Emiratis gain valuable skills and experience for vital careers in the banking and finance sectors.
“This partnership with the Commercial Bank of Dubai will result in empowering our graduates with the knowledge, skills and confidence to contribute effectively to the nation and its growing economy, as well as to reach their full potential and to ultimately lead them to successful future careers,” Dr Al Mulla said.
“It is also very pleasing to see the Commercial Bank of Dubai taking proactive steps towards the training of young Emiratis, and we will give them all necessary assistance to achieve these Emiratization goals,” Dr Al Mulla added.
“Since its inception, Commercial Bank of Dubai has considered Emiratisation as one of its priorities and has continued its mission-critical strategy of employing and developing the skill-sets of UAE nationals”, said Peter Baltussen, Chief Executive Officer of the bank.
“As part of that commitment, we continue with this collaboration which stems from both sides’ desire to develop skills and opportunities, and train students for employment in the financial services and banking sectors in Dubai, and specifically for employment by CBD” he added.
CBD has a well-crafted Emiratisation programme and its leadership role in this area, within the country’s banking sector, has won it the UAE National Resources Development Award 2013.
Also under the MoU, the bank will pay the DMC an annual fee towards the student financial aid. The money will go to the Associated Students Fund at the college.
Besides training the students, CBD outlet will extend its full range of banking services and products to Students, Staff and Alumni of DMC at competitive rates.
Other initiative under the MoU include inviting and sponsoring students to industry events, conferences and promotions, wherever possible; offering work placement, summer employment, job shadowing and permanent employment opportunities; hosting on the DMC campus, on occasion, international financial services and banking professionals as guest speakers; and giving access to CBD’s own training department and staff to help align the college programmes with industry standards.