ADGM to Create a Financial Services Knowledge Hub in Abu DhabiADGM 06/05/2017
Abu Dhabi Global Market (ADGM), the international financial Centre (IFC) in Abu Dhabi, is pleased to announce the establishment of a new Knowledge Hub in Abu Dhabi for financial services. This initiative is aligned with ADGM’s strategy as an IFC and reinforces its commitment to position Abu Dhabi as a regional centre of excellence for financial services talent development.
The initiative aims to build up the talent pool and the development of human capital in the finance sector. The ADGM Knowledge Hub will also promote professional excellence by raising the level of knowledge, standards, compliance, ethics and innovation in financial services as a center of human capital and talent excellence. The success of the Hub relies on the successful collaboration and cooperation of all Abu Dhabi Financial Institutions and key industry stakeholders.
ADGM Knowledge Hub is anchored by four key pillars which include “Academia, Research & Innovation, Seminars & Conferences, and Training Institute”. One of the key components of the Hub is to attract leading academic and professional institutions to participate in and to establish their presence on Al Maryah Island – the designated financial free zone of Abu Dhabi. International Business Schools and professional institutions are encouraged to set up their offices and presence in Al Maryah Island, providing financial related programs, while certification providers will ensure access to continuous professional development for financial services in the region. ADGM has already established an MOU with the prestigious New York University, and is in advanced discussions with leading academic and professional institutions to develop exclusive and relevant programmes.
In partnership with National & International financial institutions, and key to creating a knowledge-based economy, ADGM’s board also approved the establishment of a state of art Learning Academy. Located on Al Maryah Island, the Academy will offer training and development courses for financial services professionals in areas covering a wide range of topics from continuous development, leadership, general management, organisational behavioral to financial services. ADGM has been hosting several related programmes and knowledge-based activities and events since start of this year. More ongoing schedules and new programmes are already confirmed and work in progress.
One of the key pillars of the Knowledge Hub is the formation of a research and endowment committee to commission and publish economic research relevant to the region, as well as, develop a calendar of seminars, workshops and conferences that serves to build greater knowledge in the community and bolster Abu Dhabi’s competitiveness in a global economy. To date, several well-attended events have been hosted as part of the Knowledge Hub initiative and another has been scheduled for May organised by an international banking group.
Commenting on the initiative, HE Ahmed Al Sayegh, Chairman of ADGM said: “The financial sector is an important enabler of economic growth – not only for Abu Dhabi, but for the UAE and the wider region. It is an enabler of innovation, and we recognise that we must also innovate within the industry. For this reason, it is imperative that we provide the necessary tools and resources for professionals, to ensure that we are not only responding to change, but driving it. By expanding our professional development offering on Al Maryah Island, we will help to cultivate a highly-skilled workforce, and ensure Abu Dhabi is an attractive destination to pursue a career in finance.”
Since ADGM became operational, it has worked closely with local and international stakeholders to understand and support their growth ambitions and needs for innovation.
The ADGM Knowledge Hub is a strategic response to the evolving requirements of the financial community in Abu Dhabi. It provides platform to develop a sustainable talent pool which is fundamental to the success of ADGM as an IFC and Abu Dhabi as a global economy.