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It really helps to have on your resume when applying for analytical roles in KSA. Most firms I know currently view it as a strong preference rather than a strict requirement. Make sure you prioritize it with all the other exams you have lined up.
Honestly, looking at the mountain of CME-1 modules alongside the ICWIM requirements feels impossible when I start studying late at night, but I know from experience that for roles in KSA, the specific ICWIM qualification signals to managers that you truly understand the local landscape rather than just doing the bare minimum on regulatory theory; if you are struggling to prioritize, maybe save yourself some stress by focusing on the /certifications/cisi-gscmr-ar/ anchor course first to solidify your basics before diving into the higher level papers.
Consider it like a golden key that unlocks doors that stay closed otherwise. In KSA, the corporate landscape is competitive, so this certification acts as a strong differentiator for hiring managers.