EGX Signs MOU With The Arab Academy For Management, Banking & Financial Sciences To Provide Partial MBA & DBA Grants For EGX Employees
The Egyptian Exchange signs a memorandum of Understanding (MOU) with the Arab Academy for Financial and Banking sciences to provide partial grants for MBA and DBA programs for EGX employees and their families.
The MOU includes partial grants for the training of the brokerage firms’ employees, listed companies, and the academy students’ training.
EGX Chairman: developing the capabilities of the capital market calibers is necessary to develop the stock market, achieve their goals, and support economic and social development plans.
AABFS President: We arrange for a simulation and training module on the Egyptian Exchange to include it in the curriculum for all students as a condition for graduation.
The Egyptian Exchange (EGX) Chairman, Mohamed Farid signed a memorandum of understanding (MOU) with Dr. Mustafa Hodeib, president of the Arab Academy for Administrative, Financial and banking sciences, which provides the employees in the securities industry educational programs that vary between "MBA and DBA" and other training programs at the Academy. These programs will be partially granted, and they will cover various specializations to ensure that EGX raises the levels of the employees in the financial market and qualify them to participate in the development of the market.
The MOU was signed on the sidelines of the celebration of the Arab Academy for Administrative, Financial and banking sciences of the graduation of the 29th alumni at the great hall of celebrations at Cairo University. This was in the presence of a group of teaching members of Egyptian universities and distinguished politicians, economists and the heads of a number of big banks.
The MOU provides training and educational services via both the Academy and EGX to the following groups, EGX employees, students of the Arab Academy for Administrative, Financial and banking sciences, EGX listed companies, the members companies (brokerage Firms) and whoever wishes to invest at EGX. The parties agreed to meet the needs of each group in coordination between the Academy and EGX.
EGX employees will benefit from the MOU by the grants they are allowed and financial benefits in the following specializations:
First: MBA program executed by the Academy in the fields of business administration, banking, financial markets, financial management, human resources, and marketing, in Arabic or English languages.
Second: DBA program in Business Administration (DBA) executed by the Academy in the fields of business administration, banking, financial markets, financial management, human resources, marketing, in Arabic or English language.
Third: Training programs that EGX requires in financial and technical aspects as well as the evaluating the employees.
Moreover, EGX employees and their families (parents‐sons‐ husbands/wives‐brothers) will benefit from these partial grants.
Regarding to the benefit to the Arab Academy for Administrative, Financial and banking sciences students (financial markets major), they will be granted a two‐day training program will be held at the EGX headquarter, during which the student will be introduced to the electronic trading system.
With regard to employees of the brokerage companies and listed companies, it has been agreed to hold training programs in direct coordination between the Academy and the Egyptian stock exchange to determine the needs of these groups; the brokerage firms and listed companies will be informed of the details of the agreement after finalizing it.
Mohamed Farid, EGX Chairman, said that the MOU is significant because of the great importance of the qualified and trained human calibers to the development of the financial market as they are the ones who put the development policies that contribute to the permanent efficiency and competitiveness of the market.
"We are seeking in the stock exchange to make a quantum leap in the governing and regulating framework of the securities industry because it has a significant impact in supporting the economic and social development plans and this will be possible only through qualified human cadres who can change the reality for the better and this is what they have been set up for," Farid said.
Dr. Mustafa Habib, president of AASTMT, said that the MOU comes within the framework of a bilateral cooperation with EGX to qualify human calibers to be capable of enhancing and developing the securities industry.
We arrange in coordination with the EGX to allow all the academy students the chance for a practical training at EGX.