The University of Cyprus and the Cyprus Banks Association signed, on Monday 13 July 2026, a Memorandum of Cooperation, setting an organized framework for joint actions in the fields of education, research, innovation and the interconnection of academic knowledge with the financial sector.
The Memorandum was signed by the Rector of the University of Cyprus, Professor Tassos Christofidis, and the Director General of the Cyprus Banks Association, Mr. Marios Skandalis.
In the context of the Memorandum, the following are provided for, among others:
- the organization of joint scientific and educational activities,
- the implementation of research projects and joint participation in European programs,
- the development of partnerships in applied research, in the provision of specialized scientific support and in the utilization of the scientific knowledge and expertise of the two organizations and
- the active participation of executives of the two organizations in conferences, workshops, seminars and other actions of common interest.
Particular emphasis is also placed on strengthening financial literacy, through the support of the relevant program of the University of Cyprus for students of faculties other than economics. The aim is to strengthen the basic knowledge and skills of the student community in matters of financial management with practical value for their personal, academic and professional career.
The agreement also provides for the establishment of an annual award of €2,000 by the Cyprus Bankers Association for the winner of the MSc in Finance Master’s Program of the University of Cyprus, in recognition of academic excellence.
The Rector of the University of Cyprus, Professor Tasos Christofidis, said:
“The cooperation of the University of Cyprus with the Cyprus Banks Association creates added value for both organizations. Banks need well-qualified executives and the University seeks to prepare graduates with the knowledge and skills required by the modern job market. Through constant communication with the productive bodies and the society, we obtain valuable feedback on the needs that are being formed, so that we can prepare our graduates even better. At the same time, we remain firmly committed to the core mission of the University as an institution of education, research and contribution to society.”
The General Manager of the Cyprus Banks Association, Mr. Marios Skandalis, noted:
“For the Cyprus Banks Association, the sustainability of the banking sector and, by extension, of financial services, is the cornerstone of our strategy and of our very existence. In this context, the collaboration with the highest state educational institution of Cyprus, the University of Cyprus, significantly enriches the framework for the achievement of this goal of ours and shapes the conditions for the creation of an ecosystem focused on the education of the new generation that will manage our economy in the new era. Concrete actions, such as supporting student education, experiential education and internships in a real work environment, the implementation of annual symposia and many other initiatives, will further strengthen the strength of the financial services sector, ensuring a bright future for the new generation.”
This collaboration strengthens the connection of the University of Cyprus with the real economy and creates new opportunities for education, research and skills development, in an environment where the needs of the financial sector and society are constantly evolving.