The center, first of its kind in the region, was inaugurated in January 2009 by the bank in collaboration with the university to provide students with first-hand knowledge of investment research and analysis solutions using advanced analytical tools that enable students to quickly develop practical ability in financial analysis.
The center, is equipped with 20 PCs, a number of Plasma TVs and a database with Reuter’s 3000 XP license applications for stock pricing and up-to-date economic and financial data on the GCC region.
An identical IRC facility with Bloomberg license applications is being developed and scheduled for opening at the female campus by the fall semester of 2011.
Run by the Yammama senior students and managed by Chadli Belarbi, senior lecturer of investment and finance, the center has already made its first achievements by creating a database on the Gulf region’s economic facts and business trends.
Yammama University is the first private higher educational institution to create such a center.
The center provides students with real-time experience in financial market applications, hosting financial guest speakers, organizing international field trips to Chicago Commodity Market, NASDQ Dubai, organize exchange programs with higher education partners, promoting the financial senior project guide as an FDI help desk via YU web portal and certifications for junior financial analysts and brokers for the use required softwares.
Belarabi said: “Since its inception, SABB IRC has trained over 200 students majoring in finance on the use and navigation of Reuters 3000XP, reading and analysis of the stock pricing. It has hosted key note speakers in the field of Islamic finance, mutual funds, and Saudi financial market among others.”
He said the center had coached 10 groups of senior students of finance on undergraduate projects, conducting trend analysis and data base research using graphs and candlestick charts.
Belarbi also said the center helps the students to put their knowledge and theoretical studies into practise as it prepares them to acquire real world knowledge and be equipped with required tools for job market even before graduation.
He said the center’s long-term strategy is to accept non-YU applicants for training and courses as such will contribute to students’ output in the investment and financial market industry.
The center will confer certificate of specialization in finance and investment on those who successfully pass the training courses, Belarbi said.
SABB enhanced the role of the SABB IRC by a synergetic plan of applicative lectures and workshops presented by the bank’s investment and financial specialists on mutual funds, financial markets, types of capital investment, corporate financial projects, trend analysis, stock pricing via Bloomberg and via Reuters and the difference between the two systems, the Saudi financial market and the investment process in the Kingdom.
Belarbi said the students are becoming more enthusiastic and the agencies providing the training systems can hardly cope with increasing demand from students.
“The center is like a lab for class room theory. Training translates theory to tangibility while the faculty supports student’s deliverables by providing them with huge data base and accessibility to financial data of any company in the market, which enable the students to come up with their realistic studies. The center enabled the university to increase usability and utilization of the system across the university.”
Belarbi applauded SABB initiative as a model for the role of the private sector in contribution to education and in bridging the gap between theory and application, which eventually will benefit the corporate world and businesses in creating well qualified and trained national manpower.
The students benefiting from SABB research center in the Yamamah commended the center as they enjoying the use of the facility in truly applying what they are learning.
Abdulmelik Al-Rashed, a senior undergraduate student in finance and business administration, said: “The center provides us with an excellent opportunity to learn and use financial data in real time, which normally can not be accessed through public domain. I visit the center quite often during the week and I wish to be involved very soon in real case studies to gain solid experience in Saudi market.”
Muhammad Al-Battal said: “Learning using real time data analysis enabled me to better understand the theory in class, I am confident I will be getting the right job I am studying for.
Abdulaziz Al-Draibi, an undergraduate student majored in finance, said: “I visited the center for an hour a week but would like to visit it frequently to learn more and for cross-checking of my ability in Reuters and Bloomberg software applications.”
Ibrahim Abomouti, head of corporate communications, SABB, said: “In SABB, we believe in social responsibility as a commitment and contribution to the development of our country, which can be achieved by supporting sustainable and deliverable programs. For this purpose, the bank collaborates with a number of institution and organizations including reputable educational institutions like Yamamah University. In this particular IRC, SABB not only helped creating the center but it also maintained an ongoing support by regular cooperation with its trustees. SABB executives and investment and financial specialists visit the center and lecture the students on various relating topics.”
