Saudis make up 94% of banking employees, official says

The Ministry of Human Resources has launched the Saudisation Nitaqat programme designed to provide 340,000 jobs for citizens by 2024. The programme seeks to strike a balance between the number of employees and required Saudisation rates through categorising establishments based on achieving Saudisation targets. Nitaqat aims at providing attractive job offers to the Saudis and boosting labour market efficiency. In recent years, Saudi Arabia has unveiled a series of initiatives to employ its nationals and replace foreign workers in several fields including education and telecommunications. Earlier this month, the Ministry of Human Resources disclosed a plan to localise the kingdom’s real estate sector, designed to provide over 11,000 jobs for the Saudis. A related decree will take effect in September. Foreigners make up about 10.5 million of Saudi Arabia’s total population of 34.8 million.

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