The Bedaya Center for Entrepreneurship and Career Development (Bedaya Center), a joint initiative by Qatar Development Bank and Silatech, has signed an MOU with Qatar Financial Centre Regulatory Authority (QFC Regulatory Authority) to promote cooperation and an affiliation between the two organizations.
Together, they will work to raise awareness of the importance of Qatar’s financial sector and the careers to be found there, develop specific career development for the sector, and help to unlock the potential of Qatari youth.
The MOU aims to establish a framework for moving forward with a productive collaboration on career development events and activities.
Under the MOU, Bedaya will facilitate one-to-one advisory sessions with QFC Regulatory Authority for those who use Bedaya’s career guidance tools and will also participate in parents’ awareness sessions hosted by Bedaya.
In addition, the Regulatory Authority will consult on the preparation of the career videos that Bedaya produces highlighting the finance sector, and will also collaborate with Bedaya on its work exploration programs (such as job shadowing and internships) by hosting two students per year in different divisions of the organisation. Bedaya’s Initiative for Qatari graduates, called Graduation Program, and also calls upon the Regulatory Authority to deliver financial technical training for 25 graduates on a yearly basis.
The Regulatory Authority aims to support the efforts of Bedaya and build its profile, encouraging career development and planning by tapping into their established networks in Doha. They will also promote Bedaya initiatives to encourage aspiring members of Doha’s financial community, primarily secondary school and university students, to hone their personal and professional skills.
“Our strategic partnership with QFCRA is highly important in nurturing financial talent in the country while reflecting the organizations’ commitment to support both the Qatar National Development Strategy 2011-2016 and the Qatar National Vision 2030. The agreement with QFCRA comes in line with our strategy to develop careers in the field of financial services as financial services would continue to be an important pillar of Qatar’s economic development,” said Raed Al-Emadi – Vice Chairman of Bedaya.
“Our ultimate goal is to build a legacy of financial regulators for the State of Qatar. In partnership with Bedaya Center for Entrepreneurship and Career Development, we will work jointly on mutual strategies for Qatarisation by promoting awareness of financial services regulation and careers in this field to secondary school and university students and their parents,” said, Otello Sturino Managing Director, Corporate Communications.
“At the QFC Regulatory Authority, we are intent upon offering our employees a dynamic and professional work environment that attracts experienced professionals from Qatar and across the globe. We are equally committed to building a sustainable workforce through the employment and development of qualified Qataris who will shape the future of financial services in the country,” said Eisa Abdulla, Chief Administrative Officer, QFC Regulatory Authority.“We are especially excited to work with Bedaya using their psychometric testing and career guidance tool, Tahmeed, to refine our selection of qualified job candidates and identify the people who will flourish here at the Regulatory Authority.”
Bedaya will provide career guidance tools to all future potential Regulatory Authority talents, up to 15 per year and conduct one-to-one advisory sessions with Regulatory Authority staff and affiliates who have completed Bedaya assessments.
Bedaya will also secure internships and encourage job shadowing participants to explore the work environment of the Regulatory Authority and conduct secondary school visits (boys’ and girls’ schools) with Regulatory Authority staff members. Bedaya will involve the Regulatory Authority in Bedaya’s new initiative for supporting Qatari graduates and cover the cost of any other agreed joint programs such as virtual career video, which is part of the career videos series, with the Regulatory Authority’s nominated talents.
Reem Al-Suwaidi, General Manager of Bedaya, said: ‘’Bedaya is looking forward to this new collaboration with the QFC Regulatory Authority to provide career guidance tools and advice to the Authority’s talents as well as encourage secondary schools visits to experience how the Regulatory Authority works. We are delighted that our work exploration programs (such as job shadowing and internships) will see the Regulatory Authority hosting two students in different divisions of the organisation each year. Our Bedaya Initiative for Qatari graduates will also gain Regulatory Authority support through their delivery of financial technical training. The MOU has all the hallmarks of a very productive partnership to promote career development in the financial regulation sector.”
Al Masar, or The Path,is a custom Regulatory Authority program designed to take fresh graduates, as well as Qataris who are more established in their careers, through five stages of professional growth and development in the core business roles of the Regulatory Authority. Each of these stages is carefully charted and brought to life with professional training, coaching and staff mentoring.
The core business roles of the Regulatory Authority are in the fields of Authorisation, Supervision, Policy and Legislative Counsel. The Regulatory Authority team has extensive experience working in financial centers from London to Dubai to Hong Kong to Sydney, among others. These financial experts will play a major role in Al Masar career development at the Regulatory Authority by mentoring fresh graduates, interns, and Qataris at entry-level through “established expert” phases and beyond.
The collaboration with Bedaya will enhance the Al Masar program by providing career development tools and advice to graduates and budding professionals to help them make the right choices at every stage for a successful future career path.