Middle East

Saudi financial authority becomes 1st govt agency to obtain accreditation in institutional structure maturity

Author: sarah glubbID: 1540835657524254700Mon, 2018-10-29 20:42

JEDDAH: Saudi Arabias Capital Market Authority (CMA) became the first government agency in the Kingdom to obtain accreditation in institutional structure maturity.
The CMA received a certificate of accreditation from the National Enterprises Architecture (NEA) of the e-Government Program Yesser. This makes CMA the first government agency to reach the third level of institutional structure maturity.
The certification was delivered during a ceremony held at the CMAs headquarters on Sunday.
The agency was always keen to apply the best practices and international methodologies in its work, reported the state news agency SPA.
This achievement came after it had implemented the National Overall Reference Architecture (NORA). NORA was put in place by the Yesser Program to ensure the establishment of efficient and effective digital transformation plans by following international standards and models and national reference.
CMA President Mohammed bin Abdullah Al-Quweiz commended the important role of the Yesser Program in supporting governmental agencies during the process of digital transformation.
“The CMA benefited from the application of the institutional structure concept. It helped it achieve integration between the business sector and information technology, provided accurate and integrated information and performance indicators to help with the decision-making process. It also played a role in ensuring the best use of resources and governance of investment in information technology and improving the level of maturity of electronic services provided by the CMA to the beneficiaries,” Al-Quweiz noted.
“This certificate is encouraging not only for the CMA but also for all government agencies. It is an example of collective and participatory work that accomplishes their common objectives. It also reflects the CMAs digital transformation, which is occurring according to fixed standards. This is mainly taking place thanks to Yessers efforts,” he pointed out.
“The Yesser program backs the application of the institutional structure concept as one of the key tools in accelerating digital transformation in the Kingdom, improving the quality and efficiency of electronic services, raising the return on investments in information technology and telecommunications and eliminating double standards and repetition.
“It also aims to provide full support to the Kingdoms governmental bodies and urge them through consultative support and international and national methodologies and standards to implement this concept,” he added.
Al-Quweiz then thanked the Director-General of Yesser Program and its team, who saw “something of value in the authoritys work.”
He referred to the certificate as a road map for the CMA to follow in order to develop and improve its work.

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