الهيئة العامة للرقابة المالية

• The event brought together a diverse group, including pre-university students, along with graduates and university students from institutions like The American University in Cairo (AUC), Cairo University and Ain Shams University.
• Mohamed Farid, FRA Chairman affirmed that actuarial experts hold a pivotal and appreciated role across all specializations within the financial markets.
• Farid highlighted the essential nature of the profession, stressing that the actuary’s core skill is data analysis for making sound financial and insurance decisions, noting that, “He who has a skill will always manage.”
• Farid emphasized that building and analyzing databases is the core foundation for successfully creating and implementing effective financial policies.
• He urged young actuarial scholars to pursue continuous learning to meet their aspirations, cautioning: “A person remains knowledgeable as long as he seeks knowledge; if he thinks he has learned everything, he has become ignorant.”
• Farid concluded by encouraging the students to recognize that the sea of knowledge is vast, urging them not to be complacent and to maintain confidence in their ability to achieve their professional goals.

Dr. Mohamed Farid, FRA Chairman concluded the three-day SOA Regional Symposium 2025 in Cairo by meeting with the actuarial science students and scholars. Organized by the SOA under the patronage of FRA and in partnership with the Insurance Federation of Egypt “IFE”, the event featured discussions on the evolving role of actuaries in confronting new global risks, including climate change, cyber risks, global conflicts and economic instability.

Dr. Farid praised the profession, affirming his appreciation for actuarial experts’ pivotal role across the financial markets. He emphasized that their importance extends beyond insurance to include investment, financial planning and the banking sector.

Addressing the diverse audience, which included pre-university students, graduates, and scholars from The American University in Cairo, Cairo University, and Ain Shams University, FRA Chairman stated : “Actuaries are the driving force behind robust risk management and financial stability”.

He stressed that in a volatile world; the actuarial profession provides essential tools for enhancing resilience and flexibility against risks such as market fluctuations and demographic shifts.

Dr. Farid emphasized that leadership in the financial sector requires balancing innovation with prudence. To ensure market safety, FRA is dedicated to support professional competencies like actuaries, acknowledging their pivotal role across all financial market specializations.

He reinforced the value of the profession by stating, “He who has a skill will always manage,” explaining that the actuary’s “craft” fundamentally relies on data analysis for informed financial and insurance decision-making. He stressed that building and analyzing databases is the essential foundation for successfully formulating and implementing financial policies.

Dr. Farid highlighted that the “charity of knowledge is to disseminate it,” encouraging them to view their studies as beneficial and rewarding. He strongly advised continuous learning to achieve their full aspirations, quoting: “A person remains knowledgeable as long as he seeks knowledge; if he thinks he has learned everything, he has become ignorant.”

Finally, he affirmed FRA’s openness to cooperate with professional bodies and universities to promote the importance of the actuarial profession. Actuaries, he concluded, will continue to play a key role in shaping stable, resilient, sustainable and innovative financial markets both in Egypt and globally.

Collaborative efforts involving the Insurance Federation of Egypt and educational partners are successfully addressing the shortage of actuaries in Egypt by focusing on qualifying post-graduate students in related fields to strengthen the actuarial workforce. This program provides vital support for the non-banking financial sector and the broader economy.

Key outcomes have already been achieved through the 2023 cooperation protocol—a joint initiative between the American University in Cairo (AUC) and the Federation, under FRA patronage. Specifically, 15 students graduated from the first cohort of the Actuarial Science Diploma at AUC, with 12 graduates completing the first track and 3 students from the second track successfully passing the SOA Financial Mathematics exam. Building on this success, registration is now open for the second cohort of the specialized professional diploma.