Riyadh, December 11, 2019: The inauguration of the work of the Middle East Investment Conference, in the presence of His Excellency the Governor of the Saudi Arabian Monetary Authority (SAMA) Dr. Ahmad bin Abdul Karim Al-Kholifey. The conference which was organized by CFA Institute in cooperation with the Saudi Association of Approved Financial Analysts, witnessed the participation of more than 600 personalities including thought leaders, financial and investment sector experts, and the most important players in the market from across the Middle East and North Africa.

His Excellency Dr. Ahmad Al-Kholifey, in a speech delivered at the beginning of the ceremony, welcomed all the attendees and participants in the activities in its 10^th  edition, which is being organized for the first time in the Kingdom of Saudi Arabia, indicating that such meetings contribute to enhancing the status of the Middle East investment, and devote communication aspects to Members in various fields, which contribute to developing knowledge and expertise, developing cadres in the Middle East, and developing the financial sector. Al-Kholifey added "The Saudi Arabian Monetary Authority participates in this conference as a strategic sponsor especially by considering challenges that will be discussed, including: developing the financial market, the intricacies of the bold capital market in the Middle East, the challenges facing Islamic banking, and other issues that are Direct in achieving the goals of the financial sector development program which enjoys the support and attention of the wise leadership of the Kingdom, and to achieve its ambitious vision represented by the Kingdom's 2030 vision"

Al-Kholify pointed out that SAMA and based on its important and pivotal role in the field of developing the financial sector and investment, has focused on the investment in its human resources through intensive training and development that commensurates with the developments of the financial sector local and global changes. SAMA has provided full support of scholarship programs for graduate studies in distinguished universities worldwide. It also provided competitive training opportunities such as the Saudi Economists Program, which aims to attract distinguished people in the field of economics and finance, as well as providing them with abroad scholarship opportunities to obtain master and doctorate degrees. Noting that the number of graduates from this program reached (165) Saudi economists. Additionally, SAMA seeks to rehabilitate its cadres by providing Full support to cover the costs of obtaining global professional certificates such as CFA certification. Not to mention that SAMA pays rewards to those who successfully pass any stage of the test. The number employees who have been supported by SAMA to complete the accredited financial analysts program has exceeded (40) male and female.

The Governor affirmed SAMA's enduring desire to adopt the best practices used globally in a manner consistent with the targeted national plans, in addition to the use of national competencies to contribute in achieving the goals of the Kingdom's Vision 2030. SAMA announced in February 2019 its commitment to international standards for measuring investment performance (GIPS) issued by the Institute CFA, although it is being optional for asset owners.

This reflects the quality of the technical structure to measure performance and investment risks, and SAMA's keenness to strengthen governance frameworks in accordance with international best practices in all areas of its work and in the financial system in general. At the end of the ceremony, the Governor of the Palestine Monetary Agency presented recognition plaques to government and private parties that supported and participated in the Middle East Investment Conference.