Standard Chartered signs MoU with UAE's largest college

The MoU was signed in Abu Dhabi by HE Sheikh Nahayan Mabarak Al Nahayan, Minister of Higher Education and Scientific Research, David Proctor, CEO Standard Chartered Bank UAE and Dr. Tayeb Kamali, Vice Chancellor of Higher Colleges Technology.

Through the MoU, students of HCT, the largest college in the UAE, will be given opportunities to develop skills and careers in the banking industry.

"Standard Chartered is committed to harnessing local talent and Emiratisation is an integral part of our long-term strategy for the UAE," said David Proctor, CEO Standard Chartered Bank UAE.

"Our partnership with HCT supports the bank's aim to develop human resources in the UAE and create a dynamic national workforce."

HCT students will undertake a range of initiatives including: specialised seminars and training programmes relevant to banking; scholarships and sponsorships for continuing education; tours to foreign Standard Chartered branches for global banking exposure and internships at Standard Chartered to build on-the-job skills.

In addition, banking support will be provided to selected entrepreneurial business ventures initiated by HCT students or graduates, and the possibility of setting up Standard Chartered mini-branches on campus, involving operational and administrative support from HCT students, will also be explored.

"HCT has a mandate to develop the national workforce and introduce innovative technologies to the UAE and GCC region," stated Dr. Tayeb Kamali, Vice Chancellor, Higher Colleges Technology.

"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 with HCT is the latest in a series of steps Standard Chartered has taken to provide employment and training opportunities to UAE nationals.

Last April an MoU was signed with Tanmia - The National Human Resources Development and Employment Authority - and in December 2004 the bank launched the Al Mawarid Induction programme developed with the Emirates Institute for Banking and Finance Studies (EIBFS).

"We believe that by developing the local workforce we can ensure the banking sector in the UAE is at a level comparable to other leading financial markets in the world," said Proctor.

"Standard Chartered Bank is focused on becoming the 'World's Best International Employer by Choice'. With some of the country's most comprehensive training schemes in place and strong partnerships with HCT, Tanmia and EIBFS, we are confident we can provide candidates with a wide range of career opportunities across our 1,200 branches in 56 countries," he concluded.