UAE VP launches new premises Emirates College for Financial Sciences

VP, PM and Ruler of Dubai, His Highness Sheikh
Mohammed bin Rashid Al Maktoum

Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, today morning inaugurated the new premises of the Emirates College for Financial Sciences, previously known as Emirates Institute for Banking and Financial Studies, in Dubai International Academic City.

He unveiled a plaque commemorating the opening of the new college in the presence of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Dubai Deputy Ruler .

Sheikh Mohammed viewed a documentary on the inception of the institute, which was founded in 1983 and has two branches, the first in Abu Dhabi and the second in Sharjah. It had trained more than 90, 000 trainees working in the country banks, of whom about 35,00 are Emiratis.

The AED 150 million college consists of modern classrooms, laboratories, a theater, offices and other facilities. It was built on a land area estimated at 37, 000 square metres. The college specialises in training and rehabilitating national human resources and developing their abilities through specialised programmes and courses accredited by Ministry of Higher Education and Scientific Research. The college awards graduates Bachelor of Science degree in Banking.

Sheikh Mohammed honoured the first generation of heads of boards of directors of the college (Institute previously) including the late Abdul Malek Al Hamar, Governor of the UAE Central Bank Sultan bin Nasser Al Suwaidi, Abdullah Ahmed Al Ghurair, Fadil Saeed Al Darmaki, Ahmed Humaid Al Tayer and Mohammed Musabbah Al Nuaimi.

He also honoured former directors general of the Institute including, Yousef Issa Al Sabri, Minister of Education Humaid bin Mohammed Al Qatami and Jamal Ahmed Al Jasmi, the current director of the college.

Honouring also included national CEO of the state banks, including Abdul Aziz Al Ghurair, Jamal bin Ghalaita, Hussein Dhaen Al Qamzi, Mohammed Ahmed Abdullah, Faisal Galadari , Abdul Fattah Sharaf, Mohammed Amiri and Alaa Erekat.

At the closing of the ceremony, Sheikh Mohammed launched new identity of the Institute to become "the Emirates College for Financial Sciences".

Sheikh Mohammed expressed his happiness about the launch of this new institution, noting that "Our country ambitions, though having the strongest and most diverse banking sector in the region, go beyond that to the world and plans are to make the UAE in general and Dubai in particular an economic capital for more than a billion and a half people living around us." He expressed confidence in the efficiency of the banking sector and its vital role in supporting and moving the national economy considering this sector as a key pillar of the national economy and development of the country.

Sheikh Mohammed urged competent authorities to increase the proportion of emiratisation in the banks and to create appropriate and motivating opportunities for UAE nationals to enroll in programmes of study and training at the College and consolidate the experience of young people working in banks and enrich their knowledge and expertise in order to be a role model for young people in the successful banking business.

He congratulated all competencies and national cadres who were honoured today, especially the first generation, appreciating their efforts and devotion.

Sheikh Mohammed posed for photographs with the president and members of the board of directors of the college and its staff.

The inauguration ceremony was also attended by Cabinet Affairs Minister Mohammed Abdullah Al Gergawi, State Minister Abdullah bin Mohammed Saeed Ghobash, UAE Central Bank Governor Sultan bin Nasser Al Suwaidi, Deputy Chairman of Police and Public Security Dhahi Khalfan Tamim, in addition to heads and directors of financial and commercial institutions as well as banking sector leaders in the country.