The Saudi Arabian Monetary Authority (SAMA) Deputy Governor for Research and International Affairs, Mr. Turki Bin Daifallah Al-Mutairi, sponsored on Sunday, 20 Shawwal 1440H (corresponding to June, 23, 2019) the graduation ceremony of the Islamic Banking Training Program. The program was launched by SAMA in cooperation with the Financial Academy to build qualified personnel in the financial sector and in the field of Islamic banking and to ensure the continuation and growth of the sector. The program also aims to prepare a promising generation of Saudi innovators who are capable of contributing to excellence, innovation and strengthening sector governance.
The training program was attended by 33 trainees, during which they received extensive training in eight training sessions for a period of one month. It involved building basic concepts and principles in banks operating in the Islamic Banking sector, introducing the legal environment for Islamic banking and financing, developments and challenges facing Islamic banking, mechanisms of auditing and supervision of Islamic banks, as well as an applied case study of an Islamic financial product.
The program also included a practical application in a number of Saudi banks to practice what they have learned and to experience Islamic banking.
At the end of the ceremony, HE the Deputy Governor for Research and International Affairs handed graduates their certificates at the Financial Academy Headquarter. It is noteworthy that the size of the turnout of the Program was great. More than one thousands requests were studied and applicants who met the requirements were interviewed in order to nominate the appropriate number so as not to affect the quality of the training.