RIYADH — The work of the first edition of the Financial Academy Forum 2022 kicked off in Riyadh Wednesday, which is organized by the Financial Academy, under the patronage of the Chairman of the Board of the Capital Market Authority, Chairman of the Board of Trustees of the Academy, Mohammad Bin Abdullah Elkuwaiz.

It began in the presence of the Governor of the Saudi Central Bank Dr. Fahd Bin Abdullah Al-Mubarak in addition to the participation of decision-makers and officials in financial and economic affairs.

Elkuwaiz, in his speech, thanked and appreciated the Custodian of the Two Holy Mosques King Salman and the Crown Prince for the great and growing interest they provide to the Saudi financial sector.

He indicated that the forum represents a vital gathering that includes an elite group of working and interested parties in the financial sector locally, regionally, and internationally from the public and private sectors, including decision-makers in the financial sector and major financial institutions.

The forum also sees the participation of a selection of influential figures in the financial sector, experts and specialists in the development and development of human capabilities in the areas of finance, investment, banking, and insurance.

Elkuwaiz stressed that the Kingdom’s launch of Vision 2030 is a real breakthrough to be in the ranks of developed countries globally in a specific period of time.

He noted that the vision was planned according to global performance indicators for measurement and included broad plans, economic, social, and development programs to achieve a prosperous economy, a vibrant society, and an ambitious nation; to translate strategic objectives that enable effective implementation through vision realization programs, including the Financial Sector Development Program.

He stated that the Financial Sector Development Program is one of the most important programs to achieve the Kingdom's Vision 2030 as the other programs are closely related to it and their success stems from its success.

He stressed that the existence of a developed, modern, and comprehensive financial sector is the only way through which economic aspirations can be achieved to increase the size of the Saudi economy due to the amount of funding required for various projects and investments planned to be achieved under the vision.

He added that the program aims to develop the financial sector into a diversified and effective sector that contributes to the development of the national economy by stimulating savings, financing, and investment.

Elkuwaiz also stressed the importance of developing the capabilities of human capabilities in the financial sector, which culminated in the establishment of the Financial Academy in 2020 as one of the initiatives of the Financial Sector Development Program, which supports the development of this sector through the development of knowledge, skills, and expertise of human capabilities in the sector.

He stated that the academy has contributed since its establishment to training more than 17,000 male and female trainees, and they have benefited from more than 1,000 training and development programs; the academy has tested more than 119,000 in more than 32 final exams; 125 meetings and seminars were presented, benefiting more than one million participants, whether in the financial sector or outside it.

He emphasized that the Academy will continue to support the development and development of human capabilities.

He stressed that the Financial Academy continues to develop the human capabilities by providing a set of innovative and effective activities, solutions and techniques to enhance the continuous professional development of the employees of this sector.

This is in addition to strengthening relations with sector leaders and employees, and supporting collective efforts to achieve sustainable development of human capital in the financial sector, in order to achieve the objectives of Vision 2030.

He said, "The opportunities for progress on the path of comprehensive development are based primarily on developing the capabilities of human capabilities, because investment in the workforce is the most important type of investment that contributes to providing human competencies capable of achieving organizational goals efficiently and effectively and creating competitiveness for organizations".

He indicated that the holding of such a forum with the topics it discusses comes in the context of the great efforts made by the Financial Academy to contribute to the development of the financial sector to support the development of the national economy.

Elkuwaiz expressed that the forum would achieve its desired goals and be distinguished in its theses, come up with lessons to be learned from and positively reflected on the development of the financial sector, and achieve the aspirations of the wise leadership in light of the Kingdom's Vision 2030.

Moreover, the Director General of the Financial Academy Mana Bin Mohammed Al-Khamsan welcomed the participants in the first edition of the Financial Academy Forum. He indicated that this forum stems from its role in developing the human capabilities of cadres in the financial sector; stating that the convening of the forum came after the Council of Ministers issued a decision to establish the Financial Academy to become an independent legal entity.

Although the Financial Academy's establishment coincided with the coronavirus pandemic and its repercussions, as the Academy has achieved many positive developments that have a tangible impact on all aspects of the major financial sectors.

These achievements included preparing and developing a set of professional exams, developing many training programs that meet the needs of the financial sector, and concluding many agreements and partnerships with a number of the best local and international entities and centers. We also paid attention and cared for innovative technical solutions, so we launched the "Jadarat" platform and a distance-training platform.

He stated that given the importance of developing the human capabilities in supporting the progress and prosperity of the financial sector in the Kingdom, the Financial Academy works within its strategies and initiatives to provide a set of innovative and effective activities, solutions, and techniques to enhance the continuous professional development of the financial sector.

This is in addition to strengthening relations with sector leaders and workers, and supporting collective efforts to achieve sustainable development of human capital in the financial sector in order to achieve the objectives of the Kingdom’s Vision 2030.

Al-Khamsan also said that this forum is one of the main events held by the Academy during the current year to support the financial sector, which is witnessing great development leaps during the auspicious era of the Custodian of the Two Holy Mosques King Salman.

The forum aims at exchanging local, regional, and international expertise and experience in the field of developing the capabilities of human cadres in the financial sector, empowering human resources leaders in the financial sector to foresee the future of work and to employ innovation and artificial intelligence in developing talents and capabilities.

The forum is based on the exchange of experiences, knowledge, and experiences and a review of best practices to develop the capabilities of human cadres in the financial sector, with a strategic partnership by the Saudi Central Bank, the Capital Market Authority, the Financial Sector Development Program, and all sector institutions.

He added the forum will discuss a number of topics for developing the capabilities of important financial human cadres through three main topics: the learning organization's culture and its role in the development of human capabilities; the importance of developing human cadre capabilities in the financial sector; and innovation in human capital development, with the participation of local and international experts.

Al-Khamsan explained that the Academy has named this forum the "Finance Academy Forum 2022," which confirms our intention to hold the forum annually to present and discuss all the latest developments, issues, and problems in human resources in the financial sector in cooperation with our local and international partners.

He added that the forum represents one of the fruits of distinguished cooperation and partnership with the financial sector institutions.

Therefore, in this regard, I would like to thank all the contributors to the forum, especially the strategic partners, which are the Saudi Central Bank, the Capital Market Authority, and the Financial Sector Development Program, for their great support for the success of this forum. Thanks are also extended to the rest of our partners who sponsor this forum.

The Entrepreneur Mentor at Massachusetts Institute of Technology Terence Mauri addressed the culture of the learning organization and its role in developing human capabilities, noting the importance of learning in facilities and organizations, considering it at the present time the new oil.

He indicated that learning contributes to innovation and provides many talents and skills that benefit organizations, including financial organizations and financial markets, noting that the learning aspect does not stop and urges the acquisition of new skills.

He noted the importance of competitiveness in the field of learning, which contributes to finding new innovations and ideas that play an important role in the renaissance of the nations and the development of cities.

Mauri stated that innovation and creativity in learning created many technical programs and digital initiatives and had a clear impact on the present society, which has become indispensable to humans in their daily lives. — SPA