First Actuary in Brunei Darussalam

Bandar Seri Begawan, Brunei, January 30, 2017 --(PR.com)-- Arif Asnawi Leong has completed the required exams for the class of Associate under the Institute and Faculty of Actuaries (IFoA). The Associateship is the first level of qualification granted by IFoA at which individuals have the right to describe themselves as an actuary.

This is a major milestone for the actuarial profession in Brunei. A strong local actuarial profession in Brunei will reduce the country’s reliance on actuarial consultants from other countries, as well as further the growth and sustainability of the Bruneian financial system. This is also in line with the goals and objectives set out in Brunei Vision 2035.

Arif is currently the Executive Officer of Actuary Division in Insurans Islam TAIB, a leading provider of takaful (Islamic Insurance) products in Brunei. Insurans Islam TAIB is a wholly owned subsidiary company of Perbadanan Tabung Amanah Islam Brunei (TAIB). Arif started working for Insurans Islam TAIB in 2015, over a period of fewer than 2 years, Arif has completed all his associate level actuarial exams.

Of Arif’s success, Nicholas Yeo, Chief of learn@AP said, “Arif’s achievement is unparalleled in the country of Brunei. He is extremely dedicated and truly passionate to become an actuary. His pioneering work will become the example for young Bruneians to succeed in the actuarial profession.” Nicholas is an actuary running learn@AP, the foremost professional actuarial education and training provider in South East Asia. “Arif is a huge asset to Insurans Islam TAIB and to Brunei,” added Nicholas.

Arif has an MSc in Actuarial Management and a BSc in Actuarial Science from Heriot-Watt University, Edinburgh, Scotland. In 1972, Heriot-Watt established a Department of Actuarial Mathematics & Statistics, becoming the first university in the UK to teach an actuarial degree course in the UK. Arif also holds a Diploma in Actuarial Techniques and a Certificate in Finance and Investment from the Institute and Faculty of Actuaries.

The Institute and Faculty of Actuaries (IFoA) is the UK's only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally. Actuaries are highly regarded professionals; actuaries are problem solvers and strategic thinkers with a deep understanding of financial systems. In takaful, actuaries play a major role in product development, pricing, reserving, capital management, surplus distribution, retakaful as well as providing overall advice to takaful companies.