CMA Launches Initiative Supporting Professional Certification

The Capital Market Authority (CMA), in partnership with the Financial Academy, launched the “Professional Certificates Support Program, for Workers in the Securities Sector” offered by the Financial Academy, in an effort to develop the knowledge and professional level of workers, in the capital market institutions.

The step was taken to reflect the CMA orientations towards serving the “Kingdom’s Vision 2030” in developing the financial sector, and according to the initiative, CMA will bear the financial cost of the trainees.

In addition to compensation for examination fees, as part of building the capabilities of participants in the financial market.

The program covers four certificates offered by the Financial Academy: CFA Financial Analyst, SOCPA Fellowship, Disclosure Professional Examination (Disclosure), and Certified Investor Relations Officer Certificate.

The program targets the occupants of specialized jobs at financial market institutions and accounting offices registered, on the Capital Market Authority listed companies, and financial technology companies.

This initiative comes to translate the Authority’s vision towards encouraging and motivating those interested and wishing to obtain professional certificates, by providing them with the opportunity to take exams and increase the number of those obtaining professional certificates.

Thus supporting the provision of high quality preparatory and qualifying programs through the Financial Academy, to improve the level of competencies, in institutions targeted by the program.

For its part, the Financial Academy praised the initiative of the Capital Market Authority, noting that it will launch a number of programs that enhance professional excellence, to develop human cadres in the financial sector, in line with the sector’s aspirations and the directions of the Financial Sector Development Program – one of the programs of Saudi Vision 2030.

The Financial Academy clarified that the CFA Financial Analyst Certificate is designed by the Institute of Financial Analysts, in the United States.

It shall be granted to financial analysts after passing three tests, that measure their competence and excellence, in the field, and with regard to the SOCPA Fellowship certificate, a certificate granted to accountants after passing several tests, measuring theoretical knowledge and the ability to apply it, in practice.