Dr. Ahmad Al-Kholify, Governor of the Saudi Arabian Monetary Authority (SAMA), sponsored today, Sunday, Rabi` Al-Akhir 13, 1439 AH, corresponding to December 31, 2017 AD, at the Financial Institute in Riyadh, the graduation ceremony of the first batch of the training program for the insurance industry. The 41 recent university graduates had successfully passed the requirements of the training program that SAMA bears its cost fully.
Dr. Al-Kholify expressed his great happiness with the discipline and the distinguished performance of the trainees, and for their qualification through this program for the job market in the insurance sector.
Then His Excellency handed over the certificates to all graduates from the preparatory program and honored the distinguished and presented them with certificates of thanks for their excellence and commitment to attend and participate and pass the required tests with distinction.
Al-Kholify expressed his thanks and appreciation to everyone who contributed to the success of this program, including officials in the institution, the financial institute, and insurance companies that participated in the personal interviews that took place to select those admitted to the program and to provide the opportunity for practical application for them. He urged insurance companies to take advantage of these qualified national cadres to continue raising the rate of localization of the work force in the insurance sector, which reached 66% in the third quarter of 2017, up from 58% at the end of 2016.
His Excellency also thanked the committee set up by insurance companies to support training and Saudization for their participation in designing the program's plan and media campaign, preparing the website, communicating with insurance companies, sponsoring applicants 'interviews and the graduation ceremony.
It should be noted that the 11-week preparatory program for the insurance industry was presented in Riyadh, Jeddah and Dammam for women and men, and 150 young men and women will soon graduate from it who are qualified to work in the insurance sector, as the program included several units that included the insurance fundamentals unit, scientific units in the fields of medical insurance, vehicle and property insurance, Customer service and self management. The program also included a practical unit through which the trainees were allowed to apply on the job for 10 days in an insurance company. The program is concluded with technical units, in which training is conducted on the basics of insurance underwriting, insurance sales and insurance claims.
The graduation ceremony was attended by a number of officials from SAMA and the Financial Institute, members of the executive committees of general managers in insurance companies, and a number of insurance company officials.