HSBC signs mou with HCT to promote educational and working opportunities in financial services

Published June 9th, 2008 - 11:01 GMT

HSBC signs mou with HCT to promote educational and working opportunities in financial services

HE Sheikh Nahayan signs partnership agreement between
 HSBC and Higher Colleges of Technology for Emiratisation drive


HSBC, the largest international bank in the UAE, has signed a Memorandum of Understanding (MoU) with the Higher Colleges of Technology (HCT), to establish a HSBC Professor of Financial Services at HCT and to provide both local and international job opportunities for UAE nationals at the bank.

The MoU was signed in Dubai by HE Sheikh Nahayan Mabarak Al Nahayan, Minister of Higher Education and Scientific Research, Chancellor of the Higher Colleges of Technology and Youssef Nasr, Chief Executive Officer HSBC Bank Middle East Limited.

A key part of this agreement is the establishment of a HSBC Professor of Financial Services. This is a three year commitment by HSBC to sponsor one of HCT’s professors to be the ambassador for financial education by delivering sepcialised courses to HCT students.

Further, students of HCT, the largest educational institution in the UAE, will be given opportunities to develop skills and careers in the financial services industry and will undertake a range of initiatives including specialised seminars and training programmes relevant to banking.

HSBC will provide work placements for HCT’s top achievers at the bank with an opportunity to work abroad in one of HSBC’s 10,000 offices around the world thus providing them with international exposure to the banking and the financial industry. In addition, some of HSBC employees will share their skills by delivering presentations and lectures about various lines of businesses and acting as part time faculty at HCT.
“We welcome this strategic alliance with Higher Colleges of Technology. HSBC takes corporate sustainability very seriously and we believe we have a responsibility to contribute to the communities in which we operate through continuously engaging our employees and providing them with opportunities to give back to the community. As the world’s local bank we are able to offer international work placements to UAE nationals leveraging on the HSBC Group’s global network,” said Mr Youssef Nasr, Chief Executive Officer, HSBC Bank Middle East Limited.  

“HCT has a mandate to develop the national workforce and prepare them for challenges of global workplace,” 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 HSBC has taken to provide employment and training opportunities to UAE nationals.

“Emiratisation has been one of our strategic objectives and our partnership with HCT comes amid HSBC’s intensified Emiratisation programme which aims at attracting the very best talent in the UAE market. It is a new level in our commitment to provide unlimited opportunities for UAE nationals who want to develop their career with one of the world's leading international financial institutions,” added Mr. Nasr.


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