Riyadh, October 9, 2024 - Mohammed bin Abdullah Elkuwaiz, Chairman of the Board of the Capital Market Authority and Chairman of the Board of Trustees of the Financial Academy, officially inaugurated the third edition of the Financial Academy Forum 2024 in Riyadh. Held under the theme “Sustainable Talent Growth,” the forum gathered an esteemed group of decision-makers and experts from both the local and international financial sectors, aiming to address pressing issues related to human capital development in finance.
In his opening speech, Elkuwaiz emphasized the crucial role that the Financial Academy has played since its inception, describing it as a key hub for training and qualifying professionals in the financial market. He highlighted the academy’s boundless ambition to contribute to economic growth by fostering a well-trained financial workforce. Reflecting on the evolution of the financial sector, Elkuwaiz noted the rapid changes it has experienced, from the introduction of new financial products and channels to evolving regulations. He stressed the interconnectedness of the financial sector with other areas of the economy, showcasing its dynamic and transformative nature.
Elkuwaiz also shared insights from 24 Fintech, a specialized international conference that coincided with the forum. During the conference, a workshop focused on the future of financial planning and wealth management led to the release of a key report outlining upcoming trends and investment opportunities in these areas.
The chairman outlined emerging skills that professionals in the financial sector must master to remain competitive. These include expertise in data management and analysis, artificial intelligence, and open finance technology. He pointed out that such skills are increasingly essential for adding value to financial institutions and fostering innovation.
Elkuwaiz praised the Financial Academy's achievements since it was established in 2020. To date, the academy has trained over 50,000 individuals and offered more than 49 qualification programs and tests, certifying nearly 90,000 professionals. It has formed partnerships with over 40 educational institutions globally, further enhancing its influence and reach within the sector.
He emphasized the importance of this year’s forum, viewing it as an opportunity to address the challenges and opportunities related to the financial sector's human resources. Elkuwaiz thanked all the attendees and participants, expressing his hope that the forum's sessions would provide valuable insights and guidance for the future.
One of the major highlights of the event was the announcement of a new initiative between the Financial Academy and the Chartered Financial Analyst (CFA) Institute. The partnership aims to increase the number of CFA certification holders in Saudi Arabia, positioning the Kingdom as a global leader in financial qualifications. In addition, the forum announced the academy’s accreditation by the Chartered Insurance Institute, making it the first professional development center accredited by the institute in Saudi Arabia.
The forum also marked the Financial Academy’s collaboration with the Sutardja Center for Entrepreneurship and Technology at the University of California, Berkeley. This partnership grants Saudi financial professionals exclusive access to world-class entrepreneurship and technology programs. Additionally, the academy announced a partnership with Swiss Re Institute for executive training, aiming to qualify 150 leaders in the insurance sector, with a focus on programs like the Emerging Insurance Leaders Program.
Several other initiatives were unveiled during the forum, including an alliance between the Financial Academy, the Excellence Academy, New York University, the Paris School of Business, and the Chartered Financial Analyst Institute. This partnership will launch the “Executive Financial Managers of the 21st Century” initiative, which seeks to qualify 60 executive financial managers in its first year.
For more information on the forum’s activities and registration details, participants can visit the official website at https://forum.fa.gov.sa/.
