Algeria Hosts 3rd Arab Actuarial Conference, Highlighting Role of Risk Science in Economic Sustainability
ALGIERS – The Algerian Minister of Finance, Abdelkrim Bouzred affirmed, Wednesday in Algiers, that Algeria’s hosting of the 3rd Arab Actuarial Conference reflected a collective commitment of Arab countries to strengthen technical and scientific capacities in the financial sector, emphasizing that actuarial science constitutes a pillar for the sustainability of emerging economies.
In a speech read on his behalf by the head of the financial activities department at the General Directorate of Treasury and Accounting, Hassan Boudali, during the opening of this conference, Bouzred underscored that the organization of this event in Algeria mirrors the growing importance of actuarial competence and embodies the common will to strengthen regional cooperation in this field, while being proof of the close coordination between different parties to increase the financial capacities of Arab countries as part of common Arab action.
The minister underscored that actuarial science (risk analysis and management) offers an in-depth understanding of the dynamics of economic contexts, which favors anticipation and effective risk management, while strengthening the resilience of economic systems against shocks, adding that the capacity for forecasting and data control has become “an inevitable condition” for the sustainability of economies, particularly emerging ones.
In this respect, he said that actuarial studies provide practical and measurable solutions in a world seeking references and reliable studies to inform public policies, highlighting the impact of digital transformations, the growth of big data and the increased use of artificial intelligence (AI) in strengthening analysis and forecasting tools, thus contributing to better risk management.
