Saudization has been spreading from one sector to another sector as per the Vision 2030. Finance & Insurance sectors in the kingdom of Saudi Arabia (KSA) have decided to implement 100% Saudization in these sectors (i.e. more Jobs in Finance & Insurance sectors for Saudi Nationals/ Locals)
91000 Expats are currently working in Financial Sector which will be replaces by Saudi Nationals soon.
100% Saudization in Finance & Insurance Sectors
As of now, out of 91000+ expatriates working in these sector 87,000 Male expats are working in Finance & Insurance sector in Saudi Arabia (i.e. 1% of the total expats working in KSA) & 3,000 Female expats are working in Finance & Insurance sector in Saudi Arabia (i.e. 0.24% of the total expats working in KSA)
The Saudi Central Bank (SAMA) has signed an agreement with other Saudi Arabia government to increase the number of jobs for Saudi Nationals in the financial sector, which will help them create more than 200,000 jobs for Saudi Locals.
The MOU between the Ministry of Human Resources & Social Development & Saudi Central BanK comes within the ministry’s plans to build complementary relationships & strategic partnerships within various sectors, to achieve the goals of the National Transformation Programs and the Kingdom’s Vision 2030.