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|09 October, 2017

Insurance companies in Saudi Arabia must localize all jobs

Insurance companies must reach 100% Saudization by Feb. 1, 2018

Image used for illustrative purpose.

Image used for illustrative purpose.

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Riyadh - All insurance companies must localize all jobs related to the sale of insurance products to individuals, according to the Saudi Arabian Monetary Authority (SAMA) decision issued on Sunday.

Non-Saudis are prohibited from selling or marketing insurance products to individuals whatever their job titles or contractual relations with insurance companies or intermediary companies or insurance agencies.

Insurance companies must reach 100% Saudization by Feb. 1, 2018.

SAMA asked insurance companies to provide periodic reports on the measures taken to Saudize jobs.

Earlier this year in February, SAMA made it compulsory on insurance companies to Saudize all jobs related to vehicles claims management, customer service, dealing with complaints in all branches of insurance companies.

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Third phase of feminization of shops

The Ministry of Labor and Social Development is going to launch on Oct. 21 the third phase of the feminization of all shops selling women’s accessories.

The third phase includes shops and stalls selling ladies perfumes, shoes, bags, stockings, readymade garments, and textiles.

Ministry’s spokesman Khlaid Aba Al-Khail said the decision also targets small shops that sell wedding dresses, formal wear, abayas, robes, mother care requirements, and pharmacies in malls selling cosmetics.



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