MoU signed to develop Saudi youth skills in financial sector

Mohammed Al-Jadaan, Minister of Finance announced the signing of a Memorandum of Understanding (‘MoU’) with Mitsubishi UFJ Financial Group (‘MUFG’), Japan’s largest financial group, to promote the development of Saudi youth’s skills in the financial sector as part of the Ministry’s Advanced National Talent Development Program.

The Memorandum of Understanding was signed by Nawaf Al Dhubbaib, Director General of Human Resources, and Yasushi Itagaki, Managing Executive Officer of the Bank of Tokyo-Mitsubishi UFJ, Ltd. (‘BTMU’), the banking branch of MUFG, in the presence of senior officials from the Ministry of Finance and members of the executive and regional management team at BTMU.

The Ministry of Finance’s Advanced National Talent Development Program aims to boost the professional capabilities and technical skills of young Saudis and supports the transformation phase of the Ministry, in line with the objectives of the Kingdom’s Vision 2030. The initiative focuses on human capital development in the fields of accounting, taxation, economics, financial analysis, project management, legal consultation, marketing and communications, information technology and other important disciplines.

Al-Jadaan said: “This agreement is an important milestone towards achieving the objectives of the Financial Sector Development Program, one of the key Programs listed as part of the Kingdom's Vision 2030. It will strengthen and promote the growth of human capital in the Kingdom through knowledge transfer in the financial sector, in line with international best practice. It will also strengthen Saudi Arabia’s position in the regional and international financial community.”

"The Ministry of Finance has been taking steps to help Saudi Arabia become one of the world’s 15 largest economies by 2030 by supporting the development of a stable and diversified financial system based on effective financial policies and prudent management of resources.”

Fahad Al-Saif, Head of the Debt Management Office and Advisor to the Minister of Finance, said: “The Mitsubishi UFJ Financial Group has been a key strategic partner assisting with the development of the Office since 2016."