Frederick University and Bank of Cyprus (BoC) have signed a Memorandum of Understanding (MoU), marking the beginning of a meaningful and mutually beneficial collaboration in the fields of education, research and innovation.

The MoU was signed by George Kousis, Executive Director Technology & Operations of the Bank of Cyprus, and Professor Christos Themistos, Dean of the School of Engineering at Frederick University.

The agreement sets the framework for joint initiatives such as student internships, scholarships and grants, research projects and training programmes designed to bridge the gap between academia and the job market.

The signing ceremony took place at Frederick University in Nicosia, in the presence of Yiannis Ioannou, Manager People & CEO Office, and Christos Demosthenous, Manager Governance Technology & Operations, representing the Bank of Cyprus. Representing Frederick University were Dr Christos Markides and Dr Achilleas Achilleos from the Department of Electrical Engineering, Computer Engineering and Informatics and Dr Nikos Kousis from the Department of Business Administration.

The collaboration includes student internships, the exchange of employment opportunities, participation in career fairs, and staff upskilling programmes through Frederick University’s Training Center and microcredentials offered via the EU-CONEXUS and INVESTech networks. Furthermore, the MoU foresees cooperation in research and innovation projects in fields such as Cloud Computing, Artificial Intelligence, Data Mining, Security Engineering and Mobile Computing.

Dr Markides, representing Frederick University, stated: “This Memorandum marks the beginning of a strong and meaningful partnership for the benefit of both organisations. Frederick University’s programmes are always aligned with the needs of the job market and enhanced with practical training, ensuring that our graduates are fully prepared to enter the professional world. We are ready to work closely with the Bank of Cyprus on research projects, student internships, and staff training through our Training Centre, as well as through the microcredentials offered via EU-CONEXUS and INVESTech.”

Professor Themistos added: “It is particularly important for us to have the Bank of Cyprus represented on the advisory boards of our programmes, providing insight into current market trends and needs and contributing to the ongoing renewal and modernisation of our curricula.”

From BoC’s side, Executive Director Kousis noted: “Collaboration with universities is extremely important and is built upon four key pillars. The first concerns corporate social responsibility, through which outstanding students or graduates can benefit from research opportunities or scholarships. The second focuses on strengthening the labor market with new talents and exceptional young minds equipped with a wide range of skills. The third involves the training and upskilling of the Bank’s personnel. The fourth pillar focuses on cooperation in research and student internships. We are confident that this collaboration will bring tangible benefits to both organisations and to society as a whole.”

This Memorandum of Understanding reaffirms the commitment of Frederick University and the Bank of Cyprus to strengthen the connection between education and industry, promote innovation and contribute to the sustainable development of the Cypriot economy.