Eight graduate trainees from the Emirates Securities & Commodities Authority (ESCA) completed a years training course on capital markets working with three of the city’s training organisations. The Securities and Investment Institute, ESCA’s UK strategic partner, with Cass Business School and London Stock Exchange developed a course on a range of regulatory issues.
The students attended City University, London, on an English language training programme which took place over a period of five weeks. The ESCA group then moved to the City University’s business School, Cass, where they were trained international capital and money markets, asset management, governance and regulation.
At the London Stock Exchange, students got an overview of capital markets, from analysing the most appropriate source of capital for different types of companies, to understanding different trading platforms and the role played by technology.
Steve Thomas, Professor of Finance at Cass Business School, said:”This exciting and comprehensive course offered the Gulf regulators an in-depth view of activities and developments in London’s capital markets, along with recent progress in the fields of finance and global regulation relevant to security market regulators,” says Steve Thomas, professor of finance at Cass Business School. “The cooperation between ESCA, the LSE, SII and ourselves will, we hope, serve as a template for future education and training programmes in the region and beyond.”
“Investment in the expertise of our staff is fundamental to the success of ESCA and the markets we regulate, so we are pleased to be able to draw on the city of London’s expert organisations to equip our new recruits for the challenges they will face,” says Abdullah Al Turaifi, CEO of ESCA. “I am delighted to announce ESCA and SII are already developing the course for next year.”
“The course has given our new staff members a complete overview of how the capital markets work and an understanding of the issues and challenges faced by different market participants, giving them a true appreciation of the importance of their own day-to-day roles,” says Mohamed Al Hadari, deputy CEO for organizational and supporting services at ESCA. “We hope that more of our staff will benefit from the scheme, and look forward to identifying further candidates for the scheme in due course.”
SII and ESCA’s partnership is focused on developing the skills of the local Emiratis working across finance in the UAE.
SII and ESCA are working together to develop a new regulatory qualifications framework for the UAE.