The Ministry of Finance, represented by the Financial Skills Center, signed a Memorandum of Understanding (MoU) with ALTAMAYYUZ Finance and Accounting Excellence Academy, aiming to launch the Financial Leaders Program. The agreement was signed on the sidelines of the 2022 Budget Forum which was held yesterday, Wednesday, October 20, 2021, at the Ministry's Headquarters in Riyadh.
The MoU was signed by Faisal Yousef Jadu, Director General of the Financial Skills Center, and Abdullah Majrashi, Director General of ALTAMAYYUZ Finance and Accounting Excellence Academy, in the presence of His Excellency Abdulaziz Salih Alfuraih, Chairman of the Steering Committee at the Ministry of Finance, Yasser bin Mohammed Al-Quhaidan, Assistant Minister for the Financial Affairs Sector, and a number of officials from the Center and the Academy.
After signing the MoU, H.E. Mr. Abdulaziz Alfuraih praised the efforts made to launch the Financial Leaders Program – the first initiative of the Financial Skills Center – which was established for developing distinguished financial capabilities for the Public Financial Sector in a renewed and institutional manner. He stressed that the Ministry of Finance continues its tireless efforts to enhance the financial capabilities of the government financial sector by focusing on a group of qualitative development programs, led by the Financial Skills Center, in partnership with several local and international development entities. Their aim is to support key initiatives, such as the accrual accounting transformation initiative and the medium-term financial planning initiative, in an effort to achieve the objectives of the Financial Sustainability Program under Vision 2030.
The Director General of the Financial Skills Center explained that the MoU comes within the framework of the Center's efforts to build strategic partnerships with relevant entities from the government, business, and financial sectors, and that it aims to explore ways of joint cooperation to design, develop, and implement the Financial Leaders Program. Director General Faisal emphasized that the MoU falls within the framework of the Center's strategic objectives, through the establishment of a center specialized in developing financial skills for the Public Financial Sector and decision-makers. This will bridge the current gap in financial knowledge and financial planning skills within the framework of the Kingdom's Vision 2030. He also emphasized that the Center aims to provide several development solutions, including management consulting, awareness campaigns and workshops, specialized training programs, loan and knowledge transfer programs, in addition to digital content.
For his part, the Director General Faisal indicated that the MoU shall contribute to strengthening partnership and cooperation ties with the Financial Skills Center, working to develop recommendations that contribute to achieving strategic objectives, and identifying a working group of specialists to explore areas of joint cooperation.
It should be noted that the Financial Skills Center is one of the Ministry of Finance's initiatives to develop public financial sector skills to contribute to supporting the
Financial Sustainability Program. ALTAMAYYUZ Finance and Accounting Excellence Academy also represents a new class of financial institutes, seeking to train and educate an elite group of world-class financial professionals with the skills necessary to advance the Kingdom's financial and economic sectors.