The Saudi Central Bank (SAMA) has opened registration for its fourth edition of the Investment Immersion Program (IIP) as from Wednesday, April 17, 2024 for six weeks.
The program is an apprenticeship that aims “to employ and develop local investment professionals.”
The program, which comprises “a series of academic courses and an intensive practical training in various investment fields, is designed and developed in partnership with Wharton School of the University of Pennsylvania (one of the leading business schools in the United States) and a number of major global banks and asset managers in order to provide participants with the relevant exposure.”
The program offers an advanced technical course, “on-the-job training (OJT) with international banks and assets management companies, and job-rotation in the investment deputyship at the Saudi Central Bank under the supervision of experts in asset management and global financial markets.”
Participants will be offered a range of continuous development programs “to enhance their technical investment skills, and will receive a set of distinctive employment benefits.”
The program targets Saudi nationals “with a bachelor’s or master’s degree in finance, accounting, economics, statistics, or business-related majors from Saudi or accredited international universities with a grade of no less than equivalent to 3/4 or above (or their equivalents).”
Other requirements include English proficiency, “an age limit of 27, and passing behavioral and technical tests and interviews.”
Interested candidates in the Investment Immersion Program may submit their applications.
During the past few years, Saudi Arabia and the wider Middle East / MENA region has been focused on enhancing investors’ access to digital financial services. Saudi and other Middle Eastern investors are being offered more seamless digital services which allows them to carry out financial transactions in a frictionless manner.
In a world that’s becoming increasingly globalized, consumers and businesses need enhanced digital tools and countries like Saudi Arabia (KSA) also realize the importance of supporting financial literacy and inclusion initiatives. Although KSA is a wealthy nation, a significant part of the nation’s population is struggling financially and may also lack access to vital educational resources. Due to these challenges, KSA will have to do more to bring more people into the formal economy while further improving the nation’s human development index (HDI).