ADNOC, Bloomberg promote e-learning in 5 UAE universities

02 / 08 / 2020

By Marwa Nassar - -

About 100 Bloomberg Terminals have been installed at five leading universities in the Emirate of Abu Dhabi to support online education.

The UAE Ministry of Education and the Abu Dhabi National Oil Company (ADNOC) signed a Memorandum of Understanding (MoU) in October 2019 with Bloomberg L.P. to implement a training and development program called the ADNOC-Bloomberg Education Initiative.

The initiative is designed to equip a new generation of students with the specialized financial skills needed to excel in a dynamic and globally connected world.

The terminals have been installed at UAE University (UAEU), Abu Dhabi University (ADU), New York University – Abu Dhabi (NYU-AD), Khalifa University, and the Higher Colleges of Technology (HCT) Abu Dhabi Campus, where students have also begun their Bloomberg Market Concepts (BMC) certifications, an e-learning curriculum that provides an introduction to global financial markets.

Ministry of Education Assistant Undersecretary for Planning and Development Dr. Samer Al Samahi said: “Facilitating and advancing quality research and education that enriches the next generation’s skills is a key focus of the National Higher Education Strategy. That is why the Ministry of Education was pleased to partner with ADNOC and Bloomberg to provide university students with access to the Bloomberg Terminal and Bloomberg Market Concepts certification. We are also grateful that this initiative has been adapted to be able to continue to serve students and researchers during the Covid-19-related restrictions the world is facing. The abilities gained through the ADNOC-Bloomberg Initiative will empower and support the UAE’s students and researchers and enable them to be better able to adapt to the changing dynamics of the finance world.”

Omar Suwaina Al Suwaidi, Director of the ADNOC Executive Office Directorate, said: “We are pleased to have enabled students and faculty at participating universities to continue accessing valuable real-time financial market tools during this unprecedented period, through the ADNOC-Bloomberg Education Initiative. ADNOC’s support for this initiative is part of our corporate social responsibility programs and underpins our commitment to investing in the development of the next generation of skilled workers and supporting the UAE’s plans to build a knowledge-based, globally competitive workforce and society. The initiative will also help create a world-class talent pool for ADNOC’s new trading entities, supporting our strategy to build out our trading activities and capabilities in order to deliver greater value from our products.”

Distance learning has become the new method of schooling in the United Arab Emirates (UAE) due to the Covid-19 pandemic. The ADNOC-Bloomberg Education Initiative has enabled temporary remote access to the Bloomberg Terminal for professors to support these efforts and ensure the BMC certification program runs without disruption. Also, around 4,000 students are able to remotely access the terminals.

Approximately 300 students have completed the certification so far, and there are up to 5,000 certifications available for a total of 10 universities. The ADNOC-Bloomberg Education Initiative is also conducting regular webinars and one-to-one trainings for faculty on the Bloomberg Terminal to support them as they continue with distance learning.

These sessions, delivered by Bloomberg experts and analysts, cover a range of topics including how to use news analytics to gain market insights, commodity markets, and the impact of Covid-19 on financial markets.

Benjamin Grolimund, Regional Manager, Middle East and Africa – Financial Products, Bloomberg L.P., said: “Given the exceptional circumstances brought on by the global pandemic, we have collaborated with ADNOC and the Ministry of Education to ensure students at participating universities continue to access the same resources and data used by leading business and finance professionals across the globe. We hope this will support them as they prepare to make the transition to the professional world, and in playing an active role in the UAE’s economy.”

The ADNOC Bloomberg Education Initiative – presided over by the Ministry of Education – aims to install up to 200 Bloomberg Terminals at 10 UAE universities, where students can learn how to analyze real-time financial market data, analytics, news, and trading tools from the same integrated solution used by the most influential decision-makers in the financial services sector and beyond. Students at participating universities will also have access to the first Bloomberg Trading Challenge to be held in the UAE. The challenge – designed by Bloomberg – aims to help students develop their skills in financial data analytics and view the market through the eyes of those who use the Bloomberg Terminal every day, such as portfolio managers, investment analysts and traders.