The Financial Academy

The Financial Academy has started operating on the basis of its long history and experience in the field of training and professional development in addition to its experience in offering professional certificates, so that its services cover all sub-sectors related to the financial sector: Banking, Insurance, Financing, and Capital Market, as well as relevant bodies, and new graduates wishing to join the financial sector.

The Financial Academy began operating based on its first note in 1965, when it was founded under the name of the Institute of Banking; it was a training department affiliated to the Saudi Central Bank, formerly Saudi Arabian Monetary Authority (SAMA). It aimed to implement the best international training practices in order to sharpen the technical and administrative skills of workers in the banking sector at that time.

The institute’s business evolved year after year. In 1989, its powerful identity was enhanced to cover the financing and banking sectors under the name: The Institute of Banking (IoB). With the expansion of the scope of work and the need of the insurance sector to qualify its employees, IoB was rebranded into the Institute of Finance (IoF) in 2014.

In 2019, with the cooperation of the Capital Market Authority and the Saudi Central Bank, the Financial Academy was established to cover services in the financial sectors: (Banking, Insurance, Financing, and Capital Market).

The Capital Market Authority and the Saudi Central Bank Are considered key partners in establishing the Financial Academy and covering its financial budget in accordance with the memorandum of cooperation signed between them in this aspect, as part of the initiatives of the Financial Sector Development Program, one of the main programs of Saudi Vision 2030.

In 2020, the Financial Academy became an independent legal and administrative entity on the basis of the Council of Ministers Decision No. (538) as of April 14th, 2020 approving the establishment of Financial Academy concerned with developing Human capital capabilities working in the financial sector.