Baku:The Bahrain Institute of Banking and Finance (BIBF) has celebrated a significant national milestone as the first three Bahraini participants in its Actuarial Development Programme have achieved Associate status with the UK's Institute and Faculty of Actuaries (IFoA). This achievement was realized by Zahra Ahmed, Fatema Khamdan, and Eilaf Alawi, marking a major professional advancement since the programme's inception in 2022.
According to Bahrain News Agency, reaching Associateship is a notable accomplishment that involves completing a series of professional examinations and gaining years of practical experience. Actuaries play a crucial role in assessing financial risk and supporting decision-making in the insurance and financial services sectors through mathematics, statistics, and data analysis.
The BIBF launched the Actuarial Development Programme in 2022 to address the need for qualified Bahraini actuaries. The programme is supported by the Labour Fund (Tamkeen) and the Central Bank of Bahrain (CBB) and collaborates with international actuarial professional bodies. It aims to provide participants with professional examinations, practical experience, and internationally recognized qualification pathways.
Since the programme's launch, it has facilitated the employment of 25 Bahrainis, bridging professional development with labor market requirements. Dr. Ahmed Al Shaikh, CEO of BIBF, emphasized that this achievement highlights the significance of investing in national talent and the programme's role in enabling Bahrainis to acquire internationally recognized qualifications in this vital field.
Manal Mashkoor, Head of the Insurance Centre at BIBF, noted that achieving Associateship is a significant milestone in the actuarial qualification journey, reflecting the dedication and competitiveness of Bahraini talent on an international scale. She expressed pride in the participants' accomplishments and wished them continued success as they progress towards Fellowship.
In October, BIBF initiated an actuarial science awareness campaign to promote the profession, the qualification pathway, and career opportunities, underscoring the outcomes of the Actuarial Development Programme.