Saudi's HADAF deposits $94mln to boost private sector

Hadaf is aiming to support the employment of Saudis, increase their participation in the labor market, empower private sector establishments and ensure their stability and development

  
An employee counts Saudi Riyals bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

An employee counts Saudi Riyals bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

REUTERS/Mohamed Abd El Ghany

RIYADH: The Saudi Human Resources Development Fund (Hadaf) has deposited SR356 million ($94 million) in the bank accounts of private sector establishments last month to support 151,000 workers in the Kingdom.

Hadaf is aiming to support the employment of Saudis, increase their participation in the labor market, empower private sector establishments and ensure their stability and development.

The program supports all jobs and professions in the private sector, at a rate between 30 and 50 percent of an employee’s monthly salary, over the course of two years. It covers employees whose salaries range between SR3,200 and SR15,000. An additional 10 percent was allocated for establishments recruiting females, people with disabilities, as well as those employing Saudis outside Riyadh, Jeddah, Dammam and Alkhobar.

© Saudi Press Agency 2021

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