The City University of Macau (CityU) has teamed up with the Macau Insurance Industry Professionals Association (MIIPA) to cultivate financial professionals and improve the financial literacy of industry personnel. The Agreement of Cooperation signing ceremony took place at the Taipa campus on 31 January 2023, followed by the inauguration ceremony of the second executive committee of MIIPA and the “Trust Law” Seminar. Scholars attending this seminar discussed the importance of trust law in society. The event attracted corporate representatives and distinguished guests to take part.
The signing ceremony is one of the foremost work of the Board of Supervisors of the new term of Macau Insurance Professionals Association. Dean Adrian Cheung of Faculty of Finance and Associate Dean Gavin Chau of Faculty of Business, City University of Macau, Mr. Ivan Cheung and Mr. Edmund Wong, President and Vice president of MIIPA, signed the memorandum of cooperation on behalf of both parties. The signing ceremony was witnessed by Mr. Wilson Vong, Executive Director of Monetary Authority of Macau; Ms. Ester Lei, Executive Director of the Monetary Authority of Macau and Chairman of Executive Board of Macau Institute of Financial Services; Mr. Sio Kai Ip, Macao Legislative Council Member and Honorary Advisors of MIIPA; and Professor Jun Liu, Rector of City University of Macau.
With the Guangdong-Hong Kong-Macao Greater Bay Area accelerating its development as an important talent center and innovation hub in the world, Macau is moving towards diversified industrial and economic development, and the demand for talent in the financial field is increasing. Aiming at the financial/economic development of Macau in response to Macau's corresponding demand for talent in the business and financial sectors, CityU provides high-quality training and responding courses to talents for the development of signature/featured/modern finance in Macau and the Greater Bay Area. In the future, the two parties will jointly develop financial and insurance education. On the one hand, they will promote the professional development of insurance practitioners in Macau and establish an insurance talent pool by co-organizing academic activities. On the other hand, they also aim to improve the professional level and financial literacy of financial educators.
The seminar focuses on the theme " Trust Law", inviting professional scholars to make discussions on trust law. Dr. Lin Deng, Assistant Professor of Faculty of Finance, City University of Macau, stated in the discussion session that Macau's financial system, which is dominated by commercial banks and based on the new trust law, has potential in developing financial services for asset management, which is of great significance for Macau's financial system to provide more diversified financial products to customers. Other scholars also pointed out that Macau has the potential to attract high-net-worth individuals for asset management, which can help Macau moderately diversify its economy.
Source: Faculty of Business, Faculty of Finance, Macau Insurance Industry Professionals Association