Effective from 2017-07-09 - Jul 08 2017 To view other versions open the versions tab on the right
Remittance centers (banks) shall comply with the instructions of SAMA, the Ministry of Labor and Social Development and other relevant supervisory and regulatory authorities regarding all laws, instructions and regulations issued for private sector employees as follows:
Instructions for working hours and times, vacations and official holidays, including the provisions hereunder.
3)
Instructions issued by the Ministry of Labor and Social Development regarding the Labor Law and employee-specific regulations.
4)
Instructions issued by SAMA regarding appointment requirements for leadership positions and employment standards.
5)
Providing both an administrative and functional structures that encompass all departments and jobs, including senior positions, in which departments' functions and individuals’ duties and responsibilities are specified.
6)
Appointing a manager for remittance centers with subject matter and practical qualification who has experience in banking business; an appropriate degree of financial and administrative expertise; and a history of good conduct, and who has not been previously convicted of any crime violating honor or morals.
7)
Providing SAMA (in coordination with Banking Supervision Department) a granular semi-annual report on the number of Saudi employees and percentage of jobs nationalization with its relevant plan.
