The Effects of Private Education Institutes in Providing Modern Financial Knowledge in Developing Countries

The main objectiveof this study is to reveal the contribution of the private higher education institutions in providing majors and programs relevant to knowledge economy, and to show to which extent these institutions presented qualitative and competitive education in Saudi Arabia during the period 2005-2016. Adescriptive analytical method was used to analyze data and to test the hypothesis. Findings of the study indicated to; suitability of specialties of programs offered by private universities and colleges to what are required in the labor market in the era of knowledge economy; the proportion of private higher education graduates to the total graduates of higher education in KSA is low; quality and competitive education experienced in these institutions is limited. The study recommended that more incentives have to be provided to encourage private sector to invest in higher education, and to improve level of quality practiced in the private universities and colleges.