Financial Academy CEO calls for skill development amid rapid sector transformation

Mana bin Mohammed Al-Khamsan, CEO of the Financial Academy, emphasized the necessity of developing professional skills to keep pace with the rapid transformation of the Saudi financial sector. Speaking at the Money 20/20 Middle East conference in Riyadh, Al-Khamsan noted that technical knowledge alone is no longer sufficient due to the expansion of digital services, the increasing use of artificial intelligence, and the growing complexity of financial products.

Al-Khamsan argued that access to financial services does not equate to full financial empowerment unless accompanied by the knowledge required to understand risks and make informed decisions. He suggested that the impact of financial literacy should be measured by actual changes in financial behavior, such as improved budgeting, debt management, and savings, rather than just the completion of training programs.

To succeed in the evolving market, Al-Khamsan identified three pillars for financial professionals: strong technical and financial knowledge, clear communication skills, and high professional and ethical standards. He also called for unified standards for professional knowledge and skills within financial institutions to ensure consistent service quality and better client guidance.