Saudi Monetary Authority Launches Cyber-Security Training Program

The SAMA logo.
The SAMA logo.
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Saudi Monetary Authority Launches Cyber-Security Training Program

The SAMA logo.
The SAMA logo.

Saudi Arabian Monetary Authority (SAMA) announced the launch of the second version of its cyber-security training program.

The program, dubbed Secure 18, is scheduled to start Monday in order to prepare national cadres for taking cyber-security positions in the financial sector, as well as other sectors. The initiative, held for the second year in a row, is part of the Financial Sector Development Program's efforts to help push Vision 2030 forward.

SAMA explained that the 26-week program will be held in Saudi Arabia and United States, through which 26 trainees will attend seminars, meetings and scientific and practical training delivered by international experts.

The Authority illustrated that the acceptance process in the program went through several systematic phases of assessment that encompass about 8,000 computer science and information technology graduates from local and foreign accredited universities.

It explained that the first phase will begin in Riyadh for five weeks through which trainees will learn the fundamental concepts of cyber-security, as well as basic skills. They will then travel to the United States to begin the second phase, which lasts 19 weeks, during which they will develop their technical specialization.

Trainees will be divided into four technical tracks: defense and protection, penetration test, Pascal structure and governance and risk management. They will be motivated to research and increase their cyber-security knowledge. The second phase includes intensive practical and on-the-job training, seminars, discussion panels and guidance.

In the final phase, participants will be trained to encounter real cyber-attacks and project management through real-time simulation experience. This phase includes visits to legislative and supervisory authorities in the Kingdom.

In January 21, SAMA graduated 19 students (both male and female) who underwent intensive training for six months and a half in Saudi Arabia, the United State and United Kingdom.

The graduates were eventually recruited by SAMA, the Ministry of Finance, General Authority of Zakat and Tax, General Authority of statistic and Saudi Customs, as well as the banking sectors.



Trump Taps Scott Bessent for Treasury

(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
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Trump Taps Scott Bessent for Treasury

(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)

President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as US Treasury secretary, a key cabinet position with vast influence over economic, regulatory and international affairs.

"I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States," Trump said in a statement released on Truth Social. "Scott is widely respected as one of the world's foremost international investors and geopolitical and economic strategists."

Wall Street has been closely watching who Trump will pick, especially given his plans to remake global trade through tariffs and extend and potentially expand the raft of tax cuts enacted during his first term, Reuters reported
The choice came after days of deliberations by Trump as he sorted through a shifting list of candidates. Bessent spent day after day at Trump's Mar-a-Lago home in Florida providing economic advice, sources said, a proximity to the president-elect that may have helped him prevail.
Other names that had been floated included Apollo Global Management Chief Executive Marc Rowan and former Federal Reserve Governor Kevin Warsh. Investor John Paulson had also been a leading candidate, but dropped out, while Wall Street veteran Howard Lutnick, another contender, was appointed as head of the Commerce Department.
Bessent, who did not immediately respond to a request for comment, has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal.
The market's surge after Trump's election victory, he wrote, signaled investor expectations of "higher growth, lower volatility and inflation, and a revitalized economy for all Americans."
"Bessent has been on the side of less aggressive tariffs," said Oxford Economics' Ryan Sweet, adding that picking him makes the steep tariffs Trump proposed on the campaign trail less likely.
Bessent follows other financial luminaries who have taken the job, including former Goldman Sachs executives Robert Rubin, Hank Paulson and Steven Mnuchin, Trump's first Treasury chief. Janet Yellen, the current secretary and first woman in the job, previously chaired the Federal Reserve and White House Council of Economic Advisers.
Republican US Senator Lindsey Graham from South Carolina, Bessent's home state, said in a statement: "President Trump's economic agenda is in good hands with Scott Bessent. I look forward to working closely with Scott and President Trump to lower inflation and create the golden age of prosperity for the American people."