Reference to SAMA Circular No. 1712/BC/88 dated 6/2/1416 H and No. 3851/BC/124 dated 2/4/1410 H and other circulars regarding the implementation of Saudization in jobs within banks, and in continuation of the efforts made by SAMA and the banks in localizing jobs and qualifying Saudis to fill them, and due to the importance of intensifying efforts to achieve the desired goals in line with general directions, SAMA emphasizes the necessity of adhering to the following:

First) Citizens Employment  

1. The goal is to localize all jobs, of various types and levels, including top leadership and supervisory positions, and not to limit Saudization to certain jobs only. Employment contracts with non-Saudi employees should be considered only if a qualified Saudi candidate is not available at the time, while taking into consideration the stipulations stated in The Labor Law issued by the Royal Decree No. M/51 dated 23/8/1426 H In this regard.
2. Appointment and employment in all positions at branches, remittance centers, and cash centers are restricted to Saudis only, without specifying the type of job. Efforts should be made to completely replace non-Saudi employees with Saudi employees by a maximum date of 31/12/2013 G. It is allowed to hire one non-Saudi employee at remittance centers if the bank or money exchange deems the presence of such an employee necessary, provided that their role is limited to assisting and serving customers without having access to the bank's data and automated systems, or conducting banking operations, or opening customer accounts*.
3. The appointment to all positions involving financial transactions, the transfer of money, and related roles, as well as positions related to information security and those concerning the combating of money laundering and the financing of terrorism, is restricted to Saudi nationals only across all departments of the bank, exchange offices, branches, and affiliated remittance centers.
4. Develop programs and specific timelines for the Saudization of all jobs and provide them to SAMA within three months from this date. Work on recruiting, training, and qualifying national cadres to replace non-Saudis in these positions within a specified period.
5. Prohibition of direct and indirect dealings with any entities or individuals working as marketers of banking services within the Kingdom on behalf of foreign banks or financial entities and banning the presence of representatives of such entities within the bank, exchange office, or any of its branches or affiliated centers.
6. Develop plans and schedules for training and qualifying Saudis in accordance with the aforementioned instructions and provide them to SAMA within two months from this date.

Second) Adherence to the requirements of contracting with employment service companies

1. Selecting companies specialized in providing employment, support services, and verifying the integrity of the contracts concluded with them, as well as ensuring their compliance with and fulfillment of the requirements of SAMA and relevant authorities.
2. Ensuring that all employees are working legally and that their job roles correspond to the tasks assigned to them, as well as matching what is recorded in their work permits and residence permits.

Third) Assign the Human Resources Department to develop a plan for the localization of jobs, to train and qualify their occupants, and to begin its implementation. Also, assign the Compliance Department to monitor and oversee its implementation according to the above requirements and to prepare reports at the end of each quarter on the progress of job localization and training until the end of the period.

*According to Circular No. (21755/41) dated 6/4/1440 H, SAMA emphasizes the restriction of all currency exchange business roles (category (A, B)) to Saudis and the necessity of training Saudi employees and enrolling them in suitable training programs that match the nature of their work. Currency exchange institutions and companies must take the necessary measures to ensure full compliance, provided that the time period for Saudization of jobs does not exceed a maximum of January 29, 2020 G. Note that SAMA will take all regulatory measures against exchange institutions and companies that do not adhere to this directive.

According to Circular No. (18910/41) dated 21/03/1440 H, the categories that are treated equivalent to Saudis must be counted in the Saudization rates, in accordance with what is issued by the Ministry of Labor and Social Development and disclosed in the data submitted to SAMA.