The Muhanna Foundation is dedicated, amongst other things, to promote actuarial education in all its forms. The actuarial diploma program has been running from 1996 till 2011. Starting 2011, we are offering customized seminars, courses and workshops to companies and institutions wishing to train their team on actuarial matters related to Social Security and Insurance, as well as offering advice and counseling for Actuarial exams.
Actuarial Diploma Program - 1996 till 2011
Starting 1996, The Muhanna Foundation Actuarial Program offered a general curriculum in Financial Mathematics, Actuarial mathematics, Statistics, Survival Models, Investment & Asset Management and applications to participants with a strong mathematical background, and provides the basic skills and expertise to be applied in insurance, social security or pension funds.
Since 1996, over forty four students from Bahrain, Cyprus, Egypt, Jordan, Lebanon, Malta, Oman, Russia, Saudi Arabia, Sudan, Turkey, and Yemen have attended the program. More than twenty four lecturers from Britain, Canada, Cyprus, Lebanon, Poland, Switzerland, and the United States have come to Beirut (and previously to Cyprus) to guide participants through both academic and practical approaches to the subjects of Actuarial Mathematics, Mathematics of Finance, Investments, Life and General Insurance, Probability and Statistics and others.
The program consisted of an introductory 3-week residential actuarial teaching phase, followed by a 9-month distance learning phase in which participants work on provided assignments and prepare for the second 3-week residential review and examinations phase. Successful participants received a Diploma in Actuarial Science, presented jointly by the Muhanna Foundation and the UK Institute of Actuaries. This was not a full qualification as an actuary but was rather a valuable first stage, providing a foundation on which students can build by taking the professional examinations of the Faculty and Institute of Actuaries (UK) or the Society of Actuaries (USA).