SAMA, CMA to set up financial academy

The Saudi Arabian Monetary Authority (SAMA) and the Capital Market Authority (CMA) have signed an agreement to set up an academy to train workers in the financial sector, the CMA said in a statement on Thursday.

The academy will be an independent, non-profit entity run by both the Saudi central bank and the market regulator, the statement said.

SAMA’s Institute of Finance will continue to provide its training programs until the academy is fully established.

The academy aims to enhance the Kingdom’s financial awareness, raise training standards in line with global best practices, develop specialized tests, and provide professional certificates. It will also conduct studies, research, and specialized conferences.