New roles to be established within financial management and advisory sector as part of wider “Ghadan 21” initiative to create 10,000 new jobs in the Emirate by 2021
ADGMA and KPMG will jointly develop a Pre-Qualification Audit programme (PAQT) which will be conducted at ADGMA by KPMG. The programme will have 91 candidates in 2019 with 11 candidates to be employed by KPMG, with 50% of the candidates trained at ADGMA to be employed by KPMG upon successfully completing the PAQT programme. The remaining 50% will be sponsored for jobs within government and private entities with ADAA committing to recruit or sponsor graduates of the programme.
Elsewhere, ADGMA and ADAA will work together towards designing a unique Audit and Accountancy competency database in-line with international standards and catered to the current and future needs of training programmes.
Today’s MoU agreement is one of a series of initiatives that the HRA is driving across the economy in sectors where there is a sustained demand for career opportunities. Financial management, encompassing accounting, auditing and broader advisory skills, is an integral part of future proofing and equipping a knowledge-based economy, a key pillar of Ghadan 21, for Abu Dhabi.
- ADGM Academy will deliver bespoke training that has been designed and developed for both local talent and the current and future needs of the UAE’s Accounting and the Consulting industry
- The cohort of 91 nationals will benefit from first-hand practical experience and training with KPMG
- At the end of the training, KPMG and the ADAA will provide employment opportunities, career coaching and support
- Ghadan 21 will fund the 12-month programme, including earnings for active participants
- ADGMA and ADAA will work towards designing a unique Audit and Accountancy competency library, in line with international standards and catered to the current and future needs of training programme.
Hamad Al Mazrouei, Managing Director, ADGM Academy said: “Upskillingand providingopportunities for local talent is key to achieving long-term sustainable economic growth in the UAE. The local talent in Abu Dhabi has very high potential for positions in the accounting sector and this agreement will equip them with the right tools and platforms to excel in the field. We are very pleased to partner with both local authorities and global industry leaders to create a comprehensive framework that will allow local talent to thrive and increase their involvement in the sector.”
Amer Al Hammadi, Acting Director General of HRA, said: “Thisagreement is a translation ofour wise leadership’s vision and efforts to reinforce Emiratisation and support the development process in the financial and banking sector as part of the Executive Council’s “Ghadan 21” initiative to create 10,000 new jobs.
This MoU will unite government efforts towards improving efficiency and quality of services in the financial sector and promoting further investment in human capital. In addition, it aims to increase participation of UAE nationals in the job market by providing them with adequate knowledge and skills, thereby reinforcing Abu Dhabi’s position as an international financial hub.”
Ahmed Saleh, Director of ADAA Knowledge Centre, said: “Weare committed tostrengthening cooperation with all stakeholders and have been taking calculated steps to serve the strategic objectives of the Emirate of Abu Dhabi and realise our leadership’s vision. It is a strategic step forward that sets an example of good cooperation with the private sector to train human resources – the most important resource and asset the UAE has.”
And he added that “The ADAA Knowledge Centre, our academic arm, has extensive experience in training and research, and in determining training requirements in the field of auditing and accountancy. We were able to develop many outstanding programmes, such as the Emirati Auditor Development Program, which grants participants internationally recognised certificates,”
Nader Haffar, Senior Partner and CEO, KPMG Lower Gulf, said: “KPMGis committed tosupporting the UAE Government’s vision for Emiratisation and developing a robust strategy to strive that UAE nationals have the appropriate knowledge and skills to participate in a highly competitive public and private sector. In this regard, we are pleased to team-up with ADGM to develop the Pre-Audit Qualification Training (PAQT) framework that provides UAE nationals with the necessary training and guidance in relation to audit, so that they are well equipped to take up competitive positions in this field and contribute to the growth and development of the local economy.”
About Ghadan 21:
Ghadan 21 is a three-year AED50 billion Abu Dhabi Development Accelerator Programme endorsed by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council.
The development plan includes four main tenets, including business and investment, society, knowledge and innovation, and lifestyle. The initiatives reflect the priorities of citizens, residents and investors.
About Abu Dhabi Global Market
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by a UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global hub for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored by Abu Dhabi’s key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as an IFC governs Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and succeed within an international regulatory framework based on Common Law.
Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for three consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*
For more details of ADGM, please visit www.adgm.com or follow us on Twitter : @adglobalmarket and Linkedin: ADGM
* Source : The Global Investor Middle East and North Africa (MENA) Awards
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