The MoU, which will be witnessed by the Lord Mayor of the City of London
Alderman John Stuttard and H.E. Sheikha Lubna Al Qasimi, Minister of Econony
– ESCA Chairperson and H.E.Abdullah Alturifi, CEO of ESCA, will recognise
the joint commitment to promote high standards of competence and integrity
within the UAE securities & investment industry. This will be practically
acknowledged by the establishment of an SII office in Dubai.
ESCA will formally adopt the SII Code of Conduct (copies available in
English and Arabic) which consists of seven Principles regarding financial
services market integrity, honesty and professional standards.
Ruth Martin, Managing Director of the SII said, "We are delighted to be
working with ESCA on these very important projects which will help establish
international benchmark professional qualifications in the UAE and promote
high standards of ethics and integrity in the financial services industry."
The Lord Mayor Alderman John Stuttard said, "Today is a great example of
"City of London, City of Learning" in action. ESCA and SII working together
provides an exciting example of how the UK’s Financial Services Sector
expertise in training and competence is being transferred to benefit the
important emerging financial markets of the Gulf."
Abdullah al Turifi, CEO of ESCA said: "We have a profound belief that this
visionary partnership will add to the UAE securities and investment
industry. The offspring of such collaboratory work will not be confined only
to the Code of Conduct and enhancing the qualifications of securities
professionals, but will also raise the bar for best practices. This will add
value to the UAE investment infrastructure and daily practices."
The Securities & Investment Institute recently launched its Islamic Finance
Qualification (IFQ) in Bahrain at the World Islamic Banking Conference. The
IFQ is the first global benchmark examination covering Islamic finance to be
available to candidates via computer based testing (CBT) It is also the
world’s first ever global benchmark qualification to cover Islamic finance
from both a technical product knowledge and a Sharia’ aspect.
