CMA Chairman Mohammed Elkuwaiz Inaugurates Financial Academy Forum 2025 To Foster Innovation In Finance

The "Financial Academy Forum 2025" commenced at the King Abdullah Financial District in Riyadh. This event, under the patronage of Mohammed Elkuwaiz, Chairman of the Capital Market Authority and the Financial Academy of Trustees, gathers executive leaders and experts in finance and business. The forum's theme, "We Innovate to Empower," underscores a national commitment to advancing the financial sector's future capabilities.

Elkuwaiz highlighted Saudi Arabia's economic transformation, moving beyond oil dependency towards diversification and sustainability. He noted that the non-oil sector now contributes over 50% to GDP, showcasing its growth potential. This shift necessitates developing national talent, focusing on human capital rather than natural resources. The Financial Academy plays a crucial role in this transition by empowering local talent and fostering advanced skills.

Since its inception in 2020, the academy has steadily grown, training over 120,000 individuals from more than 700 entities. Additionally, over 200,000 have obtained professional certifications through its programs. The academy's reach extends to over ten cities within and outside Saudi Arabia. It collaborates with over 50 domestic and international training partners to diversify its offerings.

Saudi trainers now constitute nearly half of the academy's instructors. This supports its strategy to enhance local content in the financial sector by developing human capabilities. Elkuwaiz emphasized that the academy is not just a training institution but also a catalyst for empowering national talent and creating a knowledge environment aligned with global practices.

The financial sector is undergoing rapid changes due to AI advancements, sustainable finance initiatives, and FinTech developments. In response, the academy has introduced new programs this year to address these needs and prepare human capital for a digital future. Beyond training, it builds a knowledge base through specialized studies and best practice documentation.

To date, eight specialized reports have been issued by the academy on developing national competencies and future skills. These reports have garnered over 2.8 million views. A new report titled "Succession in the Financial Sector – Leadership and Business Continuity" is being launched at this year's forum to help institutions maintain leadership continuity amid changing challenges.

Forum's Strategic Pillars

This year's forum emphasizes four strategic pillars crucial for upcoming financial transformations: enhancing organizational resilience through innovation; developing leadership models that turn vision into reality; building national leadership competencies on sustainable foundations; and aligning human capital with AI advancements using proactive strategies.

Elkuwaiz described the forum as a call to action for fostering innovation and empowerment cultures. He stressed that achieving Vision 2030 involves empowerment, innovation, and sustainable development. This journey aims to solidify Saudi Arabia's leading position while preparing national leaders capable of adapting to change and making informed decisions.

The Financial Academy continues to expand its influence by prioritizing diversity in training ecosystems through partnerships with leading organizations globally. Its focus remains on equipping Saudi professionals with skills necessary for thriving in an integrated digital environment while supporting national targets aligned with global practices.

With inputs from SPA