Bangladeshi youngsters embracing new discipline abroad

In an emerging country like Bangladesh that is also vulnerable to climate and other uncertainties, Actuarial Science may offer mathematical solutions to economic and demographic challenges should there be experts of the subject.

Two Bangladeshi young students, MD Mahdi Hossain and Faiaz Maksudul Haque, have ventured into the undergrad programme of Actuarial Science at Monash University Australia with an aim to apply the knowledge back home for contributing to resilient development. They have chosen the relatively new discipline while carrying out the Monash College Diploma at Universal College Bangladesh (UCB) as part of pursuing their dream of studying at a reputed foreign university.

“While studying a Business Analytics course, I discovered a keen interest in Actuarial Science. The fact that we can practically assess financial risks through mathematical and statistical tools really intrigued me,” Mahdi recalled. Faiaz said, “While deciding on a specialised subject area, I was also looking for a relatively less-explored option, which eventually led me to choose Actuarial Science.”

Beginning their journey at Monash Australia, the two friends, former students of Manarat Dhaka International School and College, have further realised that Actuarial Science is an extremely important field of study and there still isn’t much scope for higher studies in this field in Bangladesh. “Even here at Monash, it is still a fairly new program that is undergoing development,” Faiaz argued.

They recognise that the programme at UCB equipped them with the knowledge and skills required for an overseas undergraduate degree and ensured a direct progression to pursuing education at Monash Australia. Faiaz pointed out that the courses landed him the opportunity to complete the studies in Monash Australia. Mahdi observed, “It made my dream come true!”

Upon completion of their graduation, they have plans to return to Bangladesh and they want to be part of the country’s development and growth. “I want to leverage my skills and knowledge gained throughout my academic journey at Monash to make a meaningful impact within the Actuary sector of Bangladesh,” Mahdi said.

Faiaz echoed the sentiment saying, “My main goal for now is to make impactful contributions within the field of Actuarial Science, in Bangladesh.”

Bangladesh, as one of the fastest growing economies, blessed with higher number of young population but faced with climate change difficulties, would need to consolidate its development base and grow further in the coming years and decades.

Actuarial Science discipline, which incorporates mathematics and financial theory to determine the financial effects of uncertain future events, may help development planners and corporations to take measures to ensure sustainable development.

As thousands of students go abroad every year to acquire sophisticated knowledge and skills, the country may benefit from the ones like Faiaz and Mahdi for their exposure to overseas education and if they decide positively on serving the motherland. Institutions like UCB provide the path to pursuing foreign degrees and acquiring up-to-date knowledge and skills.

On the passion and objective of studying abroad, Mahdi recommended: “You should be mentally prepared to face unprecedented barriers. Keep your spirit high and stay confident.” Faiaz added, “Being fully informed and confident is essential. Stay in touch with friends, family, and alumni members for guidance.”