On the sidelines of closing activities of the 18th international conference on banking institutes, Emirates Institute for Banking and Financial Studies and Hong Kong Banking Institute sign memo of understanding

A memo of understanding between Emirates Institute for Banking and Financial Studies and Hong Kong Banking Institute was signed yesterday, on the 5th of March, 2009. This memo of understanding comes as part of the efforts made by Emirates Institute for Banking and Financial Studies to expand network of cooperation, exchange of interest and expertise with the various banking and financial institutions within the country and abroad. This is in implementation of the policies approved by the management in this respect.

On behalf of Emirates Institute for Banking and Financial Studies, this memo was signed by Mr. Jamal Al Jasmi, general manager of the Institute. On behalf of Hong Kong Banking Institute, this memo was signed by Mrs. Kari Long, the CEO of the Institute.

After this memo was signed, Mr. Jamal Al Jasmi declared that it is upon the desire of both institutes, ties of institutional coordination and cooperation in all areas between Emirates Institute for Banking and Financial Studies and Hong Kong Banking Institute shall be established and fostered. The ultimate objective of doing that is to achieve the common interests and complete the efforts of both organizations in the area of programs and activities of banking institutes. This is also based on the importance of building technological cooperation and exchange of expertise and information as well as training and teaching staff in the various areas, especially in banking and finance. The main aim of doing that is to develop objective cooperation between the two parties on training, researches and studies.

Al Jasmi has also added that the agreement is aimed at enhancing the activities of each organization as far as the other activities and programs of the other organization are concerned. This can be achieved by the adequate means and use of abilities of both parties for the purpose of supporting creation and development of bilateral cooperation. It can be also realized by reinforcing any form of cooperation, encouraging exchange of experts, technical cadres, knowledge, ideas and technology in the agreed upon areas. Moreover, this agreement also focuses on the point that both parties shall benefit from the expertise that each party has.

He has also said that articles of the memo of understanding require that both parties shall do their best to promote level of coordination between their activities in the areas of common concern. In addition, both parties shall set a joint action plan that would identify technical obligations and expertise of each party in order to implement the steps mutually agreed upon. This should happen as part of a timeline and formation of joint teamwork from both Emirates Institute for Banking and Financial Studies and Hong Kong Banking Institute. Both institutes should set a clear action plan and hold joint meetings for the two parties whenever necessary in order to discuss the implementation of memo of understanding and exchange of information and expertise as well.

On her part, Mrs. Kari Long, the CEO of Hong Kong Banking Institute extended her thanks to the management of Emirates Institute for Banking and Financial Studies and Mrs. Jamal Al Jasmi, General Manager of the Institute. She has also pointed out that Hong Kong Banking Institute puts its all expertise under the disposal of the Emirates Institute for Banking and Financial Studies, especially when exchanging lecturers, expertise and technology in the area of training and educational programs and the professional certificates supporting the banking and financial sectors.

Signing the agreement comes on the sidelines of closing activities of the 18th international conference on banking institutes during the period of 3rd-5th of March, 2009 under the kind patronage of His Highness Sheikh Hamdan Bin Rashid Al Maktoum, deputy ruler of Dubai and minister of finance. Around (200) banking and financial experts, representing (30) countries participated in this conference.