The Financial Skills Center and Al-Tamayyuz Financial and Accounting Excellence Academy Sign a memorandum of understanding to launch the Financial Leaders Program

The Ministry of Finance, represented by the Financial Skills Center, signed a memorandum of understanding with the Al-Tamayyuz Financial and Accounting Excellence Academy, aiming at launching the Financial Leaders Program, on the sidelines of the 2022 Budget Forum held on Wednesday October 20th, 2021, at the Ministry’s headquarters in Riyadh.

The memorandum was signed by the Director General of the Financial Skills Center, Mr. Faisal Yousef Jadu, and the Managing Director of the Al-Tamayyuz Academy, Mr. Abdullah Majrashi, in the presence of His Excellency Chairman of the Saudi Ministry of Finance’s steering committee, Mr. AbdulAziz bin Saleh Al-Furaih, and the Assistant Minister for Financial Affairs, Mr. Yaser bin Mohammed Al-Quhidan and a number of center and academy officials.

After the signing, His Excellency Mr. AbdulAziz Al-Furaih valued the efforts made to launch the Financial Leaders Program - the initial work of the Financial Skills Center - which was established with the aim of developing distinguished financial capabilities for the public financial sector in a modern and institutional manner, stressing that the Ministry of Finance continues its tireless efforts to raise the financial capabilities of the government financial sector. By focusing on a set of qualitative developmental programs led by the Financial Skills Center in partnership with many local and international development organizations, aiming to support major initiatives such as the accrual accounting transformation initiative and the medium-term financial planning initiative, in order to achieve the objectives of the financial sustainability program under the 2030 vision of the Kingdom.

The Director General of the Financial Skills Center explained that the memorandum comes within the framework of the center's efforts to build strategic partnerships with relevant authorities from government sectors, business sectors and the financial system, and that it aims to discuss ways of joint cooperation to design, develop and implement the Financial Leaders Program. He stressed that the memorandum comes within the framework of the center's strategic objectives, by building a specialized center in developing financial skills for the public financial sector and decision makers to bridge the current gap in financial knowledge and financial planning skills within the Kingdom's vision 2030. He also stressed that the center aims to provide a lot of development solutions, which include: management consulting, awareness campaigns and workshops, specialized training programs, loan programs and knowledge transfer, in addition to distinguished digital content.

For his part, the Managing Director of Al-Tamayyuz Academy indicated that the memorandum will contribute to strengthening the partnership and cooperation ties with the Financial Skills Center, and working on developing improvement recommendations that contribute to achieving strategic goals, in addition to defining a working group that includes specialists to discuss ways of joint cooperation.

It is noteworthy that the Financial Skills Center is one of the Ministry of Finance's initiatives to develop the skills of the public financial sector to contribute to supporting the financial sustainability program. Al-Tamayyuz Academy represents a new category of financial institutes, and seeks to graduate a group of world-class financial professionals and the skills necessary to advance the financial and economic sectors in the Kingdom.