TAQEEM Translates Business Valuation Curricula into Arabic

The Saudi Authority of Accredited Valuers (TAQEEM) has completed the translation and localization of six business valuation training curricula from English into Arabic, totaling more than 630,000 words, including all explanations and arithmetic equations. The announcement, made on August 5, 2024, in Riyadh, marks a significant step in advancing the valuation profession in the Kingdom and expanding access to specialized knowledge for Arabic-speaking professionals.

Context and Background

TAQEEM, the Saudi Authority of Accredited Valuers, is the official regulatory body responsible for overseeing the valuation profession in Saudi Arabia. Its training arm, Taqeem Academy, plays a central role in developing the skills of valuers and promoting best practices. The translation project aligns with the authority’s strategic objectives to enhance the professionalism of valuers, improve service quality, and keep pace with international standards. By localizing these curricula, TAQEEM aims to remove language barriers and provide Arabic-speaking practitioners with direct access to globally recognized valuation methodologies.

The business valuation sector is critical to Saudi Arabia’s economic ecosystem, supporting investment decisions, mergers and acquisitions, and financial reporting. As the Kingdom accelerates its economic diversification under Vision 2030, the demand for skilled valuers has grown substantially. This initiative ensures that Saudi professionals can engage with complex valuation concepts in their native language, thereby increasing comprehension and application accuracy.

Key Details

Saad Al-Baiz, spokesperson for TAQEEM, stated that the translation covers six comprehensive training curricula and their annexes, encompassing over 630,000 words. “This will have a crucial role in boosting information and enriching Arabic content,” Al-Baiz said. He emphasized that the project reflects TAQEEM’s forward-looking approach to the profession, contributing to its development, improving services for practitioners, and enhancing awareness and transparency. “It enables valuers to be familiar with the standards and methods adopted globally in evaluating economic establishments,” he added.

Al-Baiz also highlighted the authority’s commitment to supporting accredited valuers in the Kingdom by overcoming obstacles, addressing challenges, and providing opportunities for both current practitioners and those aspiring to enter the field. Enrollment in the Arabic-language business valuation courses is available through TAQEEM’s electronic portal at qima.taqeem.sa. The portal serves as a centralized platform for accessing these resources and facilitating professional development.

Implications and Impact

The translation of these curricula is expected to have far-reaching implications for the valuation profession in Saudi Arabia and the broader Arabic-speaking world. By making high-quality training materials available in Arabic, TAQEEM is empowering a larger pool of professionals to acquire specialized skills, which in turn will enhance the overall quality of valuation services in the region. This move also supports the growth of local expertise, reducing reliance on foreign-language resources and fostering a more self-sufficient professional community.

Furthermore, the initiative contributes to the development of a robust valuation infrastructure that is essential for attracting foreign investment and facilitating transparent financial transactions. As Saudi Arabia continues to implement Vision 2030 reforms, accurate and reliable valuations will be indispensable for assessing assets, structuring deals, and ensuring regulatory compliance. The Arabic curricula will help standardize practices across the Kingdom and promote consistency in valuation methodologies.

Vision 2030 Alignment

This initiative is closely aligned with Saudi Vision 2030, which seeks to diversify the economy, enhance human capital, and promote knowledge transfer. By investing in the professional development of valuers and enriching Arabic content, TAQEEM is directly contributing to the Vision’s goals of building a skilled workforce and fostering a vibrant private sector. The translation project underscores the Kingdom’s commitment to excellence and innovation in professional services, positioning Saudi Arabia as a leader in the region’s valuation industry. As TAQEEM continues to advance the profession, it will play a pivotal role in supporting sustainable economic growth and achieving the aspirations of Vision 2030.

20 Questions

Q1. What is TAQEEM?

A1. TAQEEM is the Saudi Authority of Accredited Valuers, the official regulatory body overseeing the valuation profession in Saudi Arabia. It develops standards, accredits valuers, and provides training through Taqeem Academy.

Q2. What did TAQEEM recently accomplish?

A2. TAQEEM completed the translation and localization of six business valuation training curricula from English into Arabic, exceeding 630,000 words. This includes explanations and arithmetic equations.

Q3. Why is this translation important?

A3. It removes language barriers, enriches Arabic content, and provides Arabic-speaking valuers with direct access to global standards, enhancing their skills and service quality.

Q4. How many words were translated?

A4. More than 630,000 words were translated, covering six curricula and their annexes, including all explanations and arithmetic equations.

Q5. Who is Saad Al-Baiz?

A5. Saad Al-Baiz is the spokesperson for TAQEEM. He announced the completion of the translation project and highlighted its role in developing the valuation profession.

Q6. What is Taqeem Academy?

A6. Taqeem Academy is the training arm of TAQEEM. It completed the translation of the curricula and offers courses to develop the skills of valuers.

Q7. Where can professionals enroll in these courses?

A7. Enrollment in the Arabic-language business valuation courses is available through TAQEEM’s electronic portal at qima.taqeem.sa.

Q8. How does this project benefit valuers?

A8. It enables valuers to understand global standards and methods in Arabic, improving their expertise, transparency, and ability to evaluate economic establishments accurately.

Q9. What is the significance for the valuation sector?

A9. It advances the profession by standardizing practices, increasing awareness, and supporting the development of a skilled workforce in Saudi Arabia.

Q10. How does this align with Vision 2030?

A10. It supports human capital development, knowledge transfer, and economic diversification, key goals of Vision 2030. It also enhances the professionalism of Saudi valuers.

Q11. What types of curricula were translated?

A11. Six business valuation training curricula and their annexes were translated, covering essential topics and arithmetic equations used in valuation.

Q12. Who oversees the valuation profession in Saudi Arabia?

A12. TAQEEM, the Saudi Authority of Accredited Valuers, oversees the profession, ensuring adherence to standards and providing accreditation.

Q13. What are the objectives of TAQEEM?

A13. TAQEEM aims to develop the valuation profession, upgrade professionals’ skills, apply best standards, and provide outstanding support and services to practitioners.

Q14. How does this project enrich Arabic content?

A14. By translating specialized valuation materials into Arabic, it adds substantial technical content to the Arabic language, benefiting professionals and researchers.

Q15. What challenges does TAQEEM help valuers overcome?

A15. TAQEEM helps valuers overcome obstacles such as language barriers, access to updated standards, and professional development challenges through training and resources.

Q16. What opportunities does TAQEEM provide?

A16. TAQEEM offers training, accreditation, and resources for current and aspiring valuers, enabling them to excel in the profession and contribute to the economy.

Q17. How does this impact the Saudi economy?

A17. It enhances the quality of valuation services, which supports investment, mergers, and financial reporting, contributing to a transparent and robust economic environment.

Q18. Is the translation project part of a larger initiative?

A18. Yes, it is part of TAQEEM’s strategic efforts to develop the valuation profession in line with Vision 2030 and international best practices.

Q19. What is the role of the electronic portal?

A19. The portal qima.taqeem.sa serves as a platform for enrolling in courses and accessing training materials, facilitating easy access to professional development.

Q20. How will this affect the future of valuation in Saudi Arabia?

A20. It will raise standards, increase the number of qualified valuers, and promote transparency, positioning Saudi Arabia as a leader in the valuation industry regionally.

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