Islamic finance ‘key to Saudi Arabia’s economy’

Saudi Arabian Monetary Authority (SAMA).
Updated 28 May 2019

Islamic finance ‘key to Saudi Arabia’s economy’

  • The fourth session focused on the role of research and education institutes in raising awareness about the Islamic financial industry’s services

RIYADH: The Islamic finance industry’s role in stimulating the national economy was highlighted at a Riyadh workshop organized by the Saudi Arabian Monetary Authority (SAMA).
Turki Al-Mutairi, SAMA deputy governor for research and international affairs, inaugurated the workshop, held under the banner “The Islamic Financial Industry’s Role in Achieving National Aspirations.”
More than 30 participants took part in the second edition of the workshop, which focused on the essential role the Kingdom’s Islamic financial industry played in the financing of small and medium enterprises.
In four keynote sessions, the core topics discussed were the role of SAMA in the Islamic financial industry, its growth within the sector, and the importance of the Islamic financial industry in supporting the overall financial structure of Saudi Arabia.
Ahmad Asiri, a representative of SAMA’s Islamic financial division, presented the first session.

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More than 30 participants took part in the second edition of the workshop, which focused on the essential role of Saudi Islamic financial industry.

The second session, presented by Raja Al-Marzoqi, associate professor at the Diplomatic Studies Institute, discussed achieving goals through a sustainable developmental plan, while also strengthening the competitive role of the Islamic economy in achieving sustainability in accordance with the Kingdom’s Vision 2030 plan.
The third session sought to highlight the added value of the Islamic financial industry, and the necessity of its role in financing vital sectors that consist of small and medium enterprises.
The session was presented by Sami Al-Swailm, acting executive director of the Islamic Institute for Research and Training.
The fourth session, presented by Adnan Kaiari, head of the Islamic finance department at the Islamic Economy Institute, focused on the role of research and education institutes in raising awareness about the Islamic financial industry’s services.
Increasing financial awareness through programs that educate the public on the importance of mindful budgeting, building financial skills, as well as intelligent  spending was also discussed.


Saudi Ministry of Culture launches platform for scholarship applications

Updated 20 January 2020

Saudi Ministry of Culture launches platform for scholarship applications

  • The scholarship program is open to those who wish to obtain a bachelor’s, master’s or Ph.D. degree in various cultural and arts fields
  • The courses provided by the program include music, theater, visual arts

RIYADH: The Ministry of Culture has launched a website for applications from students who wish to join the Culture Scholarship Program. From Sunday, applications can be made at https://engage.moc.gov.sa/scholarships on three tracks: Self-financed students, pre-accepted students and the new students. The website features the application forms, benefits and general conditions for each track, as well as a list of relevant educational institutions.
The scholarship program is open to those who wish to obtain a bachelor’s, master’s or Ph.D. degree in various cultural and arts fields from the world’s most prominent educational institutions.
The courses provided by the program include music, theater, visual arts (drawing, sculpture, art theory, calligraphy, art history, photography and cinematography) filmmaking, literature and linguistics, archaeology, culinary arts, design, architecture and libraries and museums.
The program offers several advantages for both self-financed students and pre-accepted students. Scholarships cover all tuition fees, financial support, living expenses, health care and return flights to the scholarship’s location for both the student and their companion.
Students in these two tracks are offered guidance and assessment programs to check their academic development during the program, as well as getting support in other aspects needed for their advancement. After their graduation, students in these two tracks can also join training programs abroad for a maximum of two years.
The program offers several advantages to new students who have not yet received acceptance. The program helps them to get the qualifications they need to be accepted by universities by offering assistance in overcoming obstacles such as language proficiency and interpersonal skills.
The program supports the students by organizing training workshops to develop their talents and skills. It introduces them to specialized experts in the field related to their scholarships. The program saves students time and effort and supports them throughout the whole registration process, by helping them write their resumes and complete their portfolios professionally.
The scholarship program is an educational first in Saudi Arabia, and is part of a Ministry of Culture initiative to develop national cadres specialized in cultural and arts fields so as to develop the sector and meet the increasing requirements of the labor market.