WAM ABU DHABI, 21st October, 2013 (WAM) — Abu Dhabi Securities Exchange (ADX) and American University of Sharjah (AUS) today signed a Memorandum of Understanding (MoU) facilitating mutual cooperation in the fields of research, institutional development and training between the two sides.
Rashed Al Baloushi, Chief Executive of ADX, and Dr. Thomas Hochstettler, Acting Chancellor of AUS, signed the MoU on behalf of their respective organizations in the presence of senior representatives from both parties at the ADX main offices in Abu Dhabi.
Under the terms of the agreement, ADX will conduct seminars for AUS students on the procedures and methods of trading in the domestic market, as well as provide historical trading records and financial data to be utilized in classes at AUS.
The MoU forms part of ADX’s commitment to support educational initiatives and to encourage and promote professional investment skills across the UAE, to the very highest international standards.
Speaking on the occasion, Rashed Al Baloushi, CEO of ADX said:” It gives me great pleasure to have signed this agreement between our two organizations. This agreement will build and strengthen the ties between us in myriad ways. AUS has an excellent reputation in the region, and we are very keen to collaborate with them on a number of areas of mutual interest.” “I am very pleased to sign this MoU with Abu Dhabi Securities Exchange,” said Dr. Hochstettler. “We at AUS have traditionally sought partnerships ways that not only provide bilateral benefits but also exert a broadly positive impact on society in general. I sincerely believe this budding relationship will prove to be advantageous for AUS and ADX, as well as for the burgeoning economy of the UAE.” The MoU commits both parties to cooperation in conducting awareness seminars for the public as well as in providing training programs for AUS students.
The parties will also work together in preparing and publishing academic studies and in conducting research concerning capital markets in the UAE. A further project will be the establishment of a local investor confidence index for the stock market.
According to the terms decided, the MoU will remain effective for a period of three-year, with the parties agreeing to meet at least twice annually to review and develop the action plan for collaboration.