The SEC and QCB to establish School of Commerce

Minister of Education and Higher Education and Secretary General of the Supreme Education Council (SEC) HE Saad bin Ibrahim Al Mahmoud and Qatar Central Bank (QCB) Governor HE Sheikh Abdullah bin Saud Al Thani today signed an operating agreement to establish an Independent School of Commerce. The School will provide business and financial sector training as part of an educational curriculum that is dedicated to grooming candidates to take on purposeful roles in the country’s financial sector. The agreement was signed at the SEC headquarters in Dafna in the presence of Sabah Al haidoos, director of the Education Institute, Ali Al Emadi, the executive chairperson at Qatar National Bank and other officials from both sides.

The decision to establish this specialized educational institution follows the directives of Her Highness Sheikha Mozah bint Nasser Al Missned, wife of His Highness The Emir and Chairperson of Qatar Foundation, to integrate specialized banking and financial services studies into the mainstream educational curriculum for the benefit of future generations.

“ I am extremely encouraged by this new partnership between the SEC and QCB that will manage the School of Commerce. The School will help Qatari students secure the professional qualifications and core competencies required by Qatar’s competitive banking and commercial sector,” said HE Al Mahmoud. “The SEC will offer the school all the support needed, and is looking forward to establishing new partnerships that lead to further improvement and development of education that will positively influence the national economy.”

The agreement also supports the strategic objectives of both the QCB and the SEC to create specialized trade schools and develop bespoke programs, including education and training systems that are adequately equipped to keep pace with the methodologies and systems utilized in the private sector.

It will also provide students with technical and professional skills in addition to theoretical education to help them find suitable opportunities in Qatar’s rapidly expanding economy.

During his address, H.E. Sheikh Abdullah bin Saud Al Thani said that the Central Bank would work alongside the SEC to establish the “Independent Secondary School of Commerce” as one of the best specialist schools of its kind. He said QCB’s role would be to lend supervision to the school, which is scheduled to commence its first classes in the next academic year.

HE Sheikh Abdullah Al Thani also expressed pride and happiness in the unconditional support extended by the SEC and particularly the support extended by HE Al Mahmoud. The QCB Governor also commended the ongoing efforts of the SEC in laying the framework to establish the Independent School of Commerce.

Banks operating in Qatar will also be instrumental to establishing this school, which aims to develop students’ understanding of core banking concepts after they graduate from high school.

The SEC will work with leading bankers and representatives of the national economy to set the standards and educational curricula in accordance with SEC education requirements and the functional needs of the market.

QCB will invite a number of experts and professionals in the field of management, trade and banking to discuss the curriculum as well as develop techniques to enhance student performance and improve their knowledge.

QCB and SEC have outlined future requirements to providing similar educational platforms for both male and female candidates, as well as providing a broader variety of study options based on national priorities and the needs of the business and the banking sector.

The operational agreement between the SEC and QCB aims to contribute to economic and educational development, ensuring the best standards are available to each student, in line with local labor needs and developing Qatar’s Labor market as a beacon of excellence in the region and internationally.

QCB will supervise students’ training during the summer in coordination with many Qatari banks, and will coordinate directly with English & Computer training institutes to provide students with fundamental training in these two areas.

Qatari banks will therefore also have an active role in the education of these young students by instilling in them the values of the sector, in addition to knowledge and providing them with incentivized programs to seek employment in the local financial services arena.

The “Independent Secondary School of Commerce” is the third school adopted by a State institution since Qatar Petroleum’s acquisition of a license to establish Qatar Technical School and the College of Education at Qatar University’s license to establish Al Shaqab Independent Elementary School.