The Central Bank of the UAE and the Scholarships Office at the Presidential Court, in cooperation with the Emirates Institute of Finance, announced the launch of the Bachelor of Actuarial Sciences program in the country.
This came after a meeting of the programme’s advisory committee, which included Saif Al Dhaheri, Assistant Governor of the Central Bank for Banking Operations and Support Services, Vice Chairman of the Board of Directors of the Emirates Institute of Finance, Juma Al Rumaithi, Director of the Scholarships Office – Presidential Court, and Noura Al Balooshi, Director General of the Emirates Institute of Finance, in the presence of directors of 9 public and private universities in the country.
The meeting discussed the mechanisms for implementing the programme and its role in developing highly qualified national cadres in the field of actuarial sciences, which is a basic specialisation in risk management strategies and financial planning.
The meeting touched on many important aspects related to the programme, where it was agreed to form the technical advisory committee for the programme, which includes a group of the most prominent experts in the field of actuarial sciences from the participating universities, with the aim of developing the structure of the academic programme, including the courses, admission requirements, and duration of study.
The meeting also discussed securing qualified teaching staff from inside and outside the country, and providing specialized laboratories to support the educational process.
The Emirates Institute of Finance, under the supervision of the Central Bank of the UAE, will implement the project as part of the Ithraa programme for Emiratisation in the financial sector, in cooperation with local and international experts and specialists in this field.
Saif Al Dhaheri said: “The launch of the Bachelor of Actuarial Sciences programme represents a qualitative shift in the development of the insurance sector in the country, which reinforces our belief that investing in qualifying national actuarial competencies is the best way to confront risks and achieve progress in this vital sector.”
He added: “Through launching this programme, we aspire to graduate a new generation of UAE experts who are capable of providing innovative solutions in risk management, big data analysis, and designing new financial products to enhance the UAE’s position as a leading destination for insurance investments and support the country’s sustainable economic development process.”
For his part, Juma Al Rumaithi said that the programme represents more than just an educational initiative; it is a strategic investment aimed at enhancing the future of the UAE and developing its national capabilities.
He added: “We believe in the importance of building a knowledge economy driven by innovation and specialization, and the Actuarial Sciences Program is one of the tools that will enable us to achieve this vision. We strongly support this project because it embodies the wise leadership’s commitment to developing national competencies and enabling them to compete locally and globally, ensuring sustainable progress and growth in the banking and financial sector.”
For her part, Noura Al Balooshi stressed that the launch of the Bachelor of Actuarial Sciences program reflects the Emirates Institute of Finance’s commitment to academic and professional excellence. Through cooperation with the Presidential Court and universities, the Institute seeks to qualify specialized national cadres who have the ability to lead the financial sector towards a bright future. This program goes beyond being a mere academic initiative to become a fundamental pillar for enhancing the sustainability of the national economy and meeting its growing need for specialized competencies.
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