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Effective from 2019-12-10 - Dec 09 2019 To view other versions open the versions tab on the right
1.
At least 50% of all employees must be Saudi nationals when a Consumer Microfinance Company starts operations. The percentage 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 Consumer Microfinance Company shall be limited to jobs that require expertise not available in the Saudi labor market. In all cases, the Consumer Microfinance 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.
