Higher Colleges of Technology / Dubai Men’s College (DMC) and Commercial Bank of Dubai (CBD) today signed a Memorandum of Understanding for a comprehensive partnership to provide DMC students opportunities to develop skills and careers in business and the banking industry.
Dr. Philip Hicks, DMC Director and Mr. Peter Baltussen, CBD Chief Executive and Mr. Yacoub Yousuf, Deputy Chief Executive Officer signed the MoU at the CBD Head Office where the MoU became effective. It will continue in effect until it is replaced or supplemented by letters of agreement. The signing ceremony was attended members of management from the two institutions.
The agreement came about as a result of mandate HCT’s to develop human resources in UAE and to help develop a strong national workforce, in addition to the introduction of innovative technologies to the UAE and the region.
The two parties agreed sponsor key activities of Dubai Men’s College for the current academic year and to support the studies of 5 DMC students, where these students should be either currently enrolled in the College or willing to join. These students will sign a contract with CBD and will receive a monthly allowance from CBD subject to their maintaining a specific GPA in their studies. Students who enroll in this program shall undertake to work for CBD for two years after their graduation as a condition of the sponsorship program.
This cooperation targets the preparation young UAE nationals for a role in the community and in building their own businesses. Any additional avenues to enhance this aim will be explored and will be reflected on the articles of the MoU.
Dr. Philip Hicks, College Director said that the agreement was an important milestone in the College’s on-going objectives to provide a high-quality, career-oriented education for UAE nationals. Commercial Bank of Dubai has been supportive of the college for many years and this memorandum of understanding takes our relationship to a new level.
“This MoU also established that CBD will provide DMC with various locations to participate in job shadowing, industry mentor programs and internship opportunities. In addition, CBD will priority to DMC students for internship and employment opportunities especially those who meet specific CBD job requirements, “ said Peter Baltussen, Chief Executive Officer of CBD.
About Dubai Men’s College:
Dubai Men's College, one of the 16 colleges of the Higher Colleges of Technology, was established in 1989 to offer high quality education to the Emirate of Dubai and the Northern Emirates. The College offers programs in Business, Information Technology, Communication Technology and Engineering and awards Diploma, Higher Diploma and Bachelors degrees. More than 2000 students have graduated from the college and it currently enrolls approximately 2000 students and employs 250 faculty and staff. The College relocated to its permanent new campus in the Academic City – Al Rauwayya, 4 years ago. In addition to state-of-art technologies, this new campus incorporates first-class sports, educational and recreational facilities. For more information please visit Dubai Men’s College website at: dbm.hct.ac.ae/ for the latest news about college life.
About Commercial Bank of Dubai:
Commercial Bank of Dubai is one of the oldest leading national banks in the United Arab Emirates. Established in 1969 with a ten-employee branch, CBD today has developed into a progressive and successful institution offering a full range of retail and commercial banking services with a network of 25 branches and over 110 ATMs throughout the UAE.
CBD employs high-calibre professionals and is committed to provide learning and professional growth opportunities to its employees. Since its inception, CBD has considered the recruitment of UAE nationals as one of its priorities. The Bank continued its mission-critical strategy of employing and developing the skills-sets of UAE nationals and met the Bank’s annual target of employing an additional 4 per cent workforce reaching 41% by the end of 2006. The Bank has achieved substantial results in Emiratisation – almost all Branch Managers are now UAE nationals, and many nationals hold senior positions at the Bank’s Headquarters.
