The Abu Dhabi Education Council (Adec), Abu Dhabi Global Market (ADGM) and Insead have signed a memorandum of understanding (MOU) in support of building up financial services knowledge and competence in Abu Dhabi, UAE.

The MOU was signed by Dr Ali Al Nuaimi, director general of Adec, Ahmed Al Sayegh, chairman of international financial centre ADGM and Prof Miguel Sousa Lobo, director of the Insead Middle East Campus in Abu Dhabi, at ADGM Authorities Building on Al Maryah Island.

Dr Al Nuaimi said: “Adec is pleased to facilitate the relocation of the Insead Business School campus at the Al Maryah Island, known as the international financial hub of the Emirate of Abu Dhabi and the Region. The move serves as a great opportunity to support the Abu Dhabi Global Market’s mission to attract business and finance talent and expertise from across the world, while equipping our future workforce with necessary skills required for a competitive national and global economy.”

Al Sayegh said: “ADGM is pleased to share a mutual ambition with our partners Adec and Insead in raising a nation of innovative, knowledgeable and forward-thinking people that will continue to lead and contribute towards the long-term success of Abu Dhabi and the UAE.  Human capital is a vital determinant of the economic and social advancement of every economy. As an IFC, ADGM understands the importance of setting deep roots of financial capabilities and skill-sets to maintain an enduring and dynamic financial centre that generates growth and will weather all seasons and circumstances.”

“The financial sector is a strategic enabler of innovation, business opportunities and employment creation.  We will continue to work closely with key partners and institutions to provide the conducive environment and resources that support Abu Dhabi as an international hub for knowledge development, talent growth and training, innovation and financial services,” Al Sayegh added.

“Insead chose Abu Dhabi, as a location and as a partner, as a home for the school's strategic expansion in the Middle East because of a shared vision for the development of the city as a regional hub and as a global hub between Asia, Europe and Africa. Our collaboration with ADGM extends that vision, and we are proud to be associated with a financial centre that aims to have a global reach and the highest standards of excellence,” said Prof Lobo.

ADGM recently announced the establishment of its Knowledge Hub in Abu Dhabi for financial services. The Knowledge Hub initiative is aligned with ADGM’s strategy as an innovative and progressive International Financial Centre that fosters the talent pool and the development of human capital in the financial sector of the UAE.

With campuses in Europe (France), Asia (Singapore) and Middle East (Abu Dhabi), Insead's business education and research spans three continents. Its 148 renowned faculty members from 40 countries inspire more than 1,300 students in our degree and PhD programmes. – TradeArabia News Service