UAE and South Africa Continue to Strengthen Banking Industry Ties

Cass Business School Dubai and DIFC host delegation from South Africa’s Banking Sector Education & Training Authority, BANKSETA

Dubai, UAE; September 11, 2011: Highlighting the close ties between the UAE and South African banking sectors, Cass Business School Dubai and the Dubai International Financial Centre (DIFC) recently hosted a delegation from South Africa’s Banking Sector Education and Training Authority, BANKSETA. The 22-strong South African delegation was briefed on the DIFC’s value proposition as well as the outlook for the UAE’s financial services industry.

Established by the South African Department of Labour, now the Department of Higher Education and Training, BANKSETA aims to develop skill levels within the country’s banking and microfinance sectors. BANKSETA has worked with the Wits Business School in South Africa and Cass Business School in the UK to develop the International Executive Development Programme (IEDP), which seeks to identify and develop high-potential future leaders of the South African financial services industry. Following a tour of the DIFC, the BANKSETA delegation heard from Kevin Birkett, Head of Financial Services at DIFCA, as well as from companies based in the DIFC, including Barclays and MCG.

Max Makhubalo, BANKSETA CEO, said: “Prudent management of the banking sector is becoming absolutely critical as more people join formal banking and financial products become increasingly complex. This requires that those working in the sector have a broader understanding of the industry from a global perspective, making interactions and cooperations such as these a necessity.”

Kevin Birkett, Head of Financial Services, DIFC Authority, said: “Being a leading financial hub, DIFC has a mandate to develop world-class financial services and solutions. This includes development and support of various educational programs that would contribute to the advancement of professional talent. Hosting the delegation from BANKSETA reinforces the economic ties between UAE and South Africa, and is a step to further encourage mutually beneficial exchange between both economies.”

Ehsan Razavizadeh, Regional Director of Cass Business School, City University MENA region, said: “BANKSETA understands that international skills and experience are critical in an increasingly global market. The delegation had a chance to learn first-hand about the opportunities that exist within the UAE financial sector, which will in turn bring long-term benefits to the South African banking industry.”