The Central Bank of the UAE (CBUAE) and the Scholarship Office at the Presidential Court, in collaboration with the Emirates Institute of Finance, have unveiled the Bachelor’s Program in Actuarial Science.
The program seeks to equip new generation with the expertise to create innovative solutions in risk management, big data analysis, and financial products’ design, to cement the UAE’s status as a leading destination for insurance investments as well as to contribute to the development of the country’s sustainable economy.
The Bachelor’s Program in Actuarial Science was revealed following a meeting of the initiative’s Executive Advisory Committee, which includes Saif Al Dhaheri, Assistant Governor of the Central Bank for Banking Operations and Support Services and Deputy Chairman of the Board of Directors of the Emirates Institute of Finance (EIF); Juma Al Rumaithi, Director of the Scholarships Office at the Presidential Court; and Noura Alblooshi, General Manager of the EIF.
Directors from over nine public and private universities across the UAE attended the meeting to explore the program and its pivotal role in developing highly skilled national professionals in actuarial science, which is essential for risk management and financial planning strategies.
The meeting also focused on establishing a Technical Advisory Committee, which will include leading experts in actuarial science from the participating universities. This committee will be responsible for crafting the curriculum, courses, admission requirements, and the duration of study.
Furthermore, it discussed securing qualified teaching staff from both within and outside the country and providing specialized laboratories to support the educational process.
Under the leadership of the CBUAE, the Emirates Institute of Finance will implement this project within the Ethraa program, with an aim to localize the financial sector, in collaboration with a select group of global and local experts and specialists.
Al Dhaheri commented that, “This reinforces our belief that investing in qualifying national actuarial competencies is the most effective approach to address risks and achieve progress in this vital sector.”
“This program represents more than just an educational initiative; it is a strategic investment aimed at strengthening the future of the UAE and developing its national capabilities. We believe in the importance of building a knowledge-based economy driven by innovation and specialization, and the Actuarial Science program is one of the tools that will enable us to achieve this vision,” added Al Rumaithi.
Alblooshi stressed that the launch of the Bachelor’s Program in Actuarial Science highlights the EIF’s commitment to academic and professional excellence. In collaboration with the Presidential Court and Emirati universities, this program plays a key role in driving sustainable economy and catering to its surging demand for specialized expertise.
