Saudi Arabia: Regulation on Saudisation of all insurance sales jobs takes effect
Source: Middle East Insurance Review | May 2024
The Ministry of Human Resources and Social Development has announced that the government’s decision to localise all jobs related to the sales of insurance products had taken effect from 15 April.
The ministry’s move to implement this decision, in partnership with the Insurance Authority, is aimed at creating jobs for Saudi citizens as well as enhancing economic activity in the insurance sector, reported Saudi Gazette. The objective is also to contribute to developing specialised national competencies in the insurance sector, as well as to improve overall performance and raise the quality of services.
The Insurance Authority will follow up on the implementation of the Saudisation decision from the date of issuance of the decision until the target Saudisation percentage is reached.
In December 2023, the insurance regulator announced its decision to localise all jobs related to sales of insurance products with effect from the middle of April 2024. M