IMA (Institute of Management Accountants) and Saudi Arabia’s Financial Academy have signed a memorandum of understanding (MoU) in an effort to further professional initiatives for both organizations. As part of the collaboration, the Financial Academy and IMA will create awareness on the importance of skills development and the need for the CMA (Certified Management Accountant) certification, through seminars, workshops, conferences and research initiatives.
The MoU was signed by Hanadi Khalife, IMA’s senior director of Middle East and India operations, and Mana Al-Khamsan, director general of the Financial Academy. The partnership aims to advance the academy’s objectives to promote professional development of its members in the finance and accounting professions. IMA and the Financial Academy will jointly promote IMA membership and resources, including its CMA certification and the Financial Academy’s programs.
“We are continuously investing our global network, knowledge, and expertise to inform the future of the finance and accounting profession in every country that we operate in by helping well-established institutions such as the Financial Academy to provide a holistic approach to education,” said Khalife. “CMAs can be important constituents in the reshaping of the new economy of the Kingdom as the country enters this fundamental era of diversification from an oil-reliant economy and onto becoming a pivot for global trade and finance. This is a historical moment for the region, and we are excited to be able to contribute to its progress.”
“Our agreement with IMA comes as part of the academy’s ambitious focus on implementing Vision 2030 — the economic plan that will confirm the Kingdom’s status as an economic and investment powerhouse and as a central hub connecting three continents,” said Al-Khamsan. “We believe our goals will be achieved through the support of the world’s leading finance and accounting minds including CMAs. Our partnership with IMA is a step in that direction.”
The CMA program will be directed at students who enroll for specific programs at the Financial Academy.
Many of these students will then go on and serve in companies and be associated with accounting and finance, governance, compliance, and internal audit functions both in the public and private sectors.