SAMA announces second registration period for qualification program for financial departments in the insurance sector

The Saudi Central Bank (SAMA) announces the second registration period for the Qualification Program for Financial Departments in the Insurance Sector in collaboration with the Financial Academy, which will remain opened until 23/03/2023.

The 2-month program, starting on 14/05/2023, stems from SAMA’s strategy to develop the insurance sector and support national talent development and competence in the insurance sector.

SAMA indicated that the program, designed by using the best training and development solutions specialized in insurance, aims to equip its participants with skills and knowledge needed to promote their employment opportunities in the insurance sector. The program targets the training of 30 fresh graduates who hold an academic qualification related to financial management.

SAMA clarified that the Qualification Program includes several courses in English, which covers an array of topics, including: Preparation Program for Insurance Foundations Professional Exam, Structures of Financial Statements of Insurance Companies, Technical Accounts for Reinsurance, Value-added Tax and Withholding Tax, SAMA’s instructions related to financial departments in the insurance sector and the general content of International Financial Reporting Standards.