In a ceremony that took place on October 26, 2022 at the premises of the University of Cyprus in the presence of academics and students, the Department of Accounting and Finance (DAF) of the University of Cyprus signed a memorandum of cooperation with The London Institute of Banking & Finance (LIBF) and the Cyprus Institute of 
Financial Services (CIFS) to provide a series of exemptions from the examinations of all courses (units) included in levels 1-5 for obtaining the internationally recognized professional qualification, the Advanced Diploma in Banking & Finance (AdvDipB&F).
With this agreement, existing and new graduates of the DAF will be able, in one semester, after successfully completing the level 6 in Strategic Management and Innovation in Banking qualification, to automatically obtain the Advanced Diploma in Banking & Finance (AdvDipB&F), which provides them with a professional banking programme to support their professional career in banking and finance.
The event was welcomed by the Rector of the University of Cyprus, Professor Tasos Christofides, who stressed that such agreements reflect the high quality of education at the highest academic institution of Cyprus and underlined the importance of such initiatives that connect the academic community with the business world. Professor Stavros Zenios of the DAF, stated that the University of Cyprus constantly seeks to provide options to its students for expanding their academic and professional qualifications, thus giving them strong guarantees for a successful career in the workplace.
In turn, George Appios, President of the Cyprus Institute of Financial Services stated that this agreement provides significant advantages to old and new graduates of the University of Cyprus who wish to obtain an internationally recognized diploma in banking and finance, in addition to their university degree. Rob Thompson, Head of Banking Services of The London Institute of Banking & Finance, said that the University of Cyprus is the first academic institution in the world to be credited with this number of exemptions, which reflects the international recognition of the educational excellence of both the DAF department and the University of Cyprus in general.
The London Institute of Banking & Finance, previously known as the Chartered Institute of Bankers in England, operates in 120 countries and since 1879 has been serving the financial sector in terms of education and specialization.
The Cyprus Institute of Financial Services is an evolution of the Cyprus Chartered Institute of Bankers in England and for over 50 years has been serving the financial sector of Cyprus by providing training programs and seminars. It represents LIBF in Cyprus and is also a founding member of the European Banking and Financial Training Association (EBTN).