Financial Academy CEO: Growth of Saudi Financial Sector Increases Need for New Skills, Professional Capabilities

Financial Academy CEO Mana bin Mohammed Al-Khamsan said the rapid transformation of Saudi Arabia's financial sector requires parallel development in professional skills and capabilities. He noted that technical knowledge alone is no longer sufficient amid the expansion of digital services, the growing use of artificial intelligence (AI), and the increasing complexity of financial products.

 Al-Khamsan made the remarks during a panel discussion titled "From Access to Agency: Financial Education as Infrastructure" at the Money20/20 Middle East conference in Riyadh. He said access to financial services alone does not constitute full financial empowerment, as individuals need the knowledge and skills to understand available options and associated risks and make more informed and confident financial decisions.

 His remarks come as Saudi Arabia's fintech sector undergoes rapid expansion, with the number of fintech companies rising from 82 in 2022 to 281 as of August 2025. Cumulative investment in the sector exceeded SAR8.9 billion as of July 2025, according to data from the Saudi Central Bank (SAMA).