The UAE Insurance Authority and the University of Sharjah signed an MoU aimed at joint cooperation, exchange of knowledge and experiences, and the establishment of a community partnership that contributes to achieving sustainable development by building national capacities necessary to raise quality and development and achieving the strategic goals of the two parties. His Excellency Ibrahim Obaid Al Zaabi, Director General of the UAE Insurance Authority, signed the MoU at the Authority's headquarters along with Dr. Salah Taher, Vice Chancellor for Community Affairs.

The MoU calls for strengthening and improving cooperation between the two parties in the fields of preparing scientific and specialized research in a way that serves and enhances the common interests between the two parties, in addition to cooperation in the field of qualification and training of national cadres working in the field of insurance in order to build the knowledge capacity of national competencies of the Authority's employees to keep pace with its strategic plans through several steps. The steps include providing scholarships to some Emirati students affiliated with some specializations at the University of Sharjah, organizing an introductory seminar for the employees of the UAE Insurance Authority to learn about the specialized graduate studies programs offered by the University that are in line with the development agenda and raise the institutional efficiency of the authority, and working to launch academic programs commensurate with the needs of the insurance sector to provide the sector with qualified technical personnel.

The University of Sharjah will also provide, through its Center for Continuing Education and Professional Development, specialized training programs in the field of insurance. The University will urge graduate students researchers to conduct research studies in the field of insurance, financial insurance, and actuarial sciences and share their findings and recommendations with the UAE Insurance Authority in order to benefit from them in the development of the sector. The University will also urge students to participate in the Authority's initiatives related to the best annual research presented by universities on innovative research topics related to insurance, in addition to the participation of students and faculty members in proposing innovative ideas within the innovation labs established by the Authority.

The two parties will also work to develop an organizational framework for practical training for students within the Authority or in the insurance sector, and to participate and cooperate in holding seminars, lectures and workshops, exchange information and experiences. This along with learning about the best modern practices in the fields of awareness, communication and international relations, in addition to joint cooperation in implementing awareness initiatives and campaigns in all fields through various channels and social media, which contributes to achieving the vision and strategic goals of the two parties.