Saudis control 14 financial activities
Saturday, 08 05 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
The annual economic survey of private sector companies published by the General Authority for Statistics showed that approximately 6589 Saudi companies operating in 14 fields related to the financial and insurance sector were able to provide 72% of their employments to Saudis during year 2016 whereas the percentage of non-Saudis is 28%.
Moreover, the insurance sector where 1209 companies operate is the second employer of Saudis in this regard as 9,133 employees work with a total of 16.4 thousand employees i.e. 55.6% of jobs against 7,287 jobs for expatriates i.e. 44.4% and this could decrease according to the instructions of the Saudi Arabian Monetary Authority, which compelled insurance companies and liberal jobs companies to implement the Saudization of motor claims management and customer service departments at 100% within a maximum date of July 2nd.
Source: Makkah Newspaper