At least (50%) of all employees of the Finance Company must be Saudi nationals when the Finance Company starts operations. The (50%) minimum applies to all departments and organizational levels.
2.
The percentage of Saudi nationals of total human resources shall be annually increased by (5%) of all employees until (75%) has been reached. SAMA may determine the minimum required annual increase thereafter.
3.
Recruitment of non-Saudis in the Finance Company shall be limited to jobs that require expertise not available in the Saudi labor market. In all cases, the Finance Company must obtain a non-objection letter from SAMA before appointing any non-Saudi employee in supervision departments provided that the Company has proved the lack of Saudis for the vacant position.*
* This paragraph has been amended in accordance with His Excellency the Governor's Decision No. 72/M SH T, dated 20/06/1440H.
