The Financial Academy (TFA) and the Insurance Authority (IA) have inked a Memorandum of Understanding (MoU) to enable Saudi talent to earn eligibility for Institute and Faculty of Actuaries ( IFoA ) fellowship, thereby supporting their career pathways in actuarial disciplines and advancing the industry's goals in line with Saudi Vision 2030.

The MoU was signed by Mr. Nasser Alobaid, General Director of Learning and Development at The Financial Academy, and Dr. Ghadah Ben Baz, Deputy CEO for Shared Services at the Insurance Authority.

Alobaid explained that the signing of the memorandum is driven by TFA's ambitious strategy, which aims to develop and empower human capital across the financial sector, aligned with Saudi Vision 2030.

"The strategy is designed to boost professionalism and innovation of Saudi talent —including C-suite executives and board members. Accordingly , the Academy offers specialized training programs, professional certificates, and innovative learning solutions that keep up with the market evolving needs," he noted.

On her side, Ben Baz said the MoU fosters the Insurance Authority's ongoing plans of transforming KSA insurance sector into a vibrant and trusted industry, enabling it to serve as a driving force of economic growth. This is being achieved, she added, through introducing effective regulation, providing strategic support, and upskilling the sector's workforce.

The Financial Academy (TFA) is an entity with an independent, legal and administrative status. It is organizationally located under the Chairman of the Board of the Capital Market Authority (CMA). The Academy is dedicated to qualifying the financial sector human capital, including senior managers and board members, by advancing their knowledge, capabilities, skills and culture. TFA also develops and promotes best professional financial practices, targeting all components of the financial services sector including banking, finance, insurance and capital market.