The Financial Academy (TFA) has signed a framework agreement with the Small and Medium Enterprises General Authority (Monsha'at) to promote financial literacy among entrepreneurs and small and mid-size enterprises (SMEs). The deal was concluded on the sidelines of Monsha'at’s Funding Week.

Signature was carried out by Mr. Mohammed Alhamazany, Chief of Capability Development at The Financial Academy, and Mr. Abdulaziz AlJaffali, General Manager of Funding at MonshaatSA ‏ . The ceremony took place at SMEs Support Center in Riyadh.

According to the agreement, cooperation will include the implementation of joint training and awareness initiatives and programs, such as organizing training camps in the field of finance, as well as developing educational and training content to improve the efficiency of financial resource management within SMEs and support their sustainability and growth. This will be accrued out in accordance with the laws and regulations in force in the Kingdom of Saudi Arabia.

Alhamazany dubbed the agreement as “an extension of TFA’s strategic role in developing the financial sector human capital” through adopting international best practices and standards and aligning the Academy’s programs with the requirements of the Financial Sector Development Program (FSDP), aiming to shape a prosperous financial future in the Kingdom.

The Financial Academy (TFA) is an entity with an independent, legal and administrative status. It is organizationally located under the Chairman of the Board of the Capital Market Authority (CMA). The Academy is dedicated to qualifying the financial sector’s human capital, including senior managers and board members, by advancing their knowledge, capabilities, skills and culture. TFA also develops and promotes best professional financial practices, targeting all components of the financial services sector including banking, finance, insurance and capital market.