Nicosia, Cyprus. The University of Cyprus and the Association of Cyprus Banks (ACB) have signed a memorandum of understanding to establish cooperation in education, research, innovation and links between academia and the financial services sector.
The agreement was signed by University of Cyprus Rector Tasos Christofides and ACB Director General Marios Skandalis.
Areas of cooperation
According to an announcement by the Association of Cyprus Banks, the agreement provides for joint scientific and educational initiatives, collaborative research projects and joint participation in European programmes.
It also covers applied research partnerships, specialised scientific support and the involvement of representatives from both organisations in conferences, workshops, seminars and other activities of shared interest.
Financial literacy and academic award
The partnership places emphasis on financial literacy through support for a University of Cyprus programme for students in faculties outside economics. The programme aims to provide participants with fundamental knowledge and skills in financial management.
The Association of Cyprus Banks will also establish an annual €2,000 award for the top-performing student in the University of Cyprus MSc in Finance programme.
Statements
Christofides said the collaboration would create added value for both organisations, noting that banks require highly qualified professionals and that the university aims to prepare graduates with skills sought in the labour market.
“Through continuous communication with productive sectors of the economy and society, we gain valuable feedback on emerging needs, allowing us to prepare our graduates even more effectively,” Christofides said.
Skandalis said the partnership strengthens the framework supporting the sustainability of the banking sector and creates conditions for an ecosystem focused on educating the next generation.
“Initiatives such as internships, experiential learning and the organisation of annual symposiums will contribute to the further strengthening of the financial services sector,” Skandalis said.