H.E. Mr. Mohammed bin Abdullah Elkuwaiz, Chairman of the Capital Market Authority (CMA) and Chairman of the Board of Trustees of the Financial Academy (FA), said the Financial Academy Forum has become a flagship event for all those interested in areas of financial training and employability. He explained that the forum allows audience to identify challenges and explore opportunities with regard to developing the capabilities of human capital in the financial sector.

“It also seeks to foster institutional excellence through highlighting T&D best practices in the era of technology and innovation,” added Mr. Elkuwaiz, who was delivering the opening remarks at the Financial Academy Forum 2024, held October 9, at the Conference Center of King Abdullah Financial District (KAFD) in Riyadh.

He noted that the FA plays a leading role in promoting the continuous professional development within the financial sector. “This role is driven by the Academy’s strategy and initiatives that are designed to provide a wide range of effective activities and innovative solutions and technologies, thus supporting the collective efforts aiming to sustainably develop the financial sector’s human capital.”

The CMA Chairman underlined the important role of the Academy as he reviewed its achievements since it was reconstituted in 2020. He revealed that the FA trained over 50,000 financial sector employees, qualified more than 90,0000 staff by providing specialized programs as well as exams that exceeded 49, and secured partnerships with over 40 prominent educational and training organizations worldwide.

Additionally, Elkuwaiz highlighted the vast transformation experienced by the financial sector in terms of products, channels and new regulations, and how it is closely linked to other areas of economy. In this context, he underscored the outcome of the international 24 Fintech conference, which hosted a workshop on the future of financial planning and wealth management, resulting in a report on the key features of revolutionizing and investing in these domains in the upcoming period.

He pointed out that most of the areas of development and investment are not related to the specialization itself, but rather to additional skills that the financial sector should develop to be able to excel. “These skills include data management and analysis, artificial intelligence (AI), open financial technology, in addition to other areas that have become essential for bringing added value to the industry.”

“We have much work and investment to do in order to realize our economic ambitions,” concluded Elkuwaiz, who wished that the forum’s panels and activities would contribute to improving the capabilities of the financial sector’s human capital, eventually leading to aligning such capabilities and skills with the sector future needs.

The Financial Academy Forum is held annually with a view to enhancing the professional growth, strengthening links between the sector and the industry professionals, and advancing the sustainable development of human capital in the Kingdom of Saudi Arabia.