31 May 2006 — DFSA Launches Major Regulatory Program for Emiratis and Awards Scholarships

The Dubai Financial Services Authority (DFSA) today launched “Tomorrow’s Regulatory Leaders” TRL, a training and development program designed to create sustainable career opportunities for Emiratis in financial services regulation.

TRL was launched by DFSA’s Chairman, Dr. Habib Al Mulla, and Chief Executive, Mr David Knott at a media conference attended by business and government representatives at the Emirates Towers Hotel, Dubai.

At the launch Dr Al Mulla predicted that TRL will have lasting importance to the DFSA, Dubai and the UAE.

“The DFSA aspires to develop a future generation of financial sector regulators from within this country. We want those individuals to have the best possible grounding and training in this highly technical area, so that they attain regulatory credentials equal to those in the world’s major capital markets” said Dr Al Mulla.

Mr. Knott described TRL as a program to transfer knowledge and expertise from experienced international regulators to young Emiratis. He explained the core features of TRL as individual and intensive academic and practical training over a two year period, followed by long term employment opportunities.

Mr. Knott said: “In the world of regulation, I am not aware of any other program that matches the commitment to knowledge transfer being made by DFSA’s international regulators under TRL. The young Emiratis who enter this program will receive a unique opportunity to pursue a future career in regulation and related disciplines. They, and others who will follow them under this program, will be equipped for long term leadership positions as regulators within their own country.”

At today’s launch Dr. Al Mulla presented Certificates of Induction to the first four TRL participants who will commence the program in September 2006. They are:

Hind Al Ali, Malik Al Madani, Maryam Lootah, and Sara Kalban.

Mr. Knott also announced that the DFSA will award two financial scholarships of AED12,500 each year to undergraduates who are assessed as having outstanding potential for future participation in the TRL program.

The winners of the first 2006 TRL Scholarship, Fatema Al Redha and Bushra Al-Roken, were presented with a Certificate and cheque by Dr. Al Mulla.