JEDDAH: Insurance companies are required to employ only Saudis in their claims and customer care departments by the end of the Eid Al-Fitr holiday.
The circular, in which the Saudi Arabian Monetary Agency (SAMA) obliged insurance companies to Saudize the above-mentioned sections, will come into effect on July 2, followed by another phase aiming to nationalize senior and technical positions at these companies.
SAMA Gov. Ahmed Al-Khulaifi said developing a national workforce in the sector is SAMA’s intent. Although insurance and reinsurance companies achieved Saudization rates of 58 percent in 2016, the ambition is to nationalize higher management and technical jobs, he said, calling on companies to start training citizens for these positions.
SAMA is coordinating with universities to make sure that the technical knowledge and programs needed by the sector are being provided. Al-Khulaifi called on insurance companies to hire graduates from these institutions.
Nationalizing insurance jobs is necessary, given the current economic changes and goals of the Vision 2030, said the governor.
SAMA issues deadline for Saudization of insurance claims, customer care
SAMA issues deadline for Saudization of insurance claims, customer care
Saudi Arabia rejects Israel’s recognition of Somaliland
- Israel on Friday formally recognized Somaliland as an “independent and sovereign state” and signed an agreement to establish diplomatic ties
RIYADH: Saudi Arabia on Friday expressed full support for the sovereignty, unity, and territorial integrity of Somalia, and expressed its rejection of the declaration of mutual recognition between Israel and Somaliland.
Israel on Friday formally recognized Somaliland as an “independent and sovereign state” and signed an agreement to establish diplomatic ties, as the region’s leader hailed its first-ever official recognition.
The Kingdom affirmed its rejection of any attempts to impose parallel entities that conflict with the unity of Somalia, the Saudi Press Agency reported.
It also affirmed its support for the legitimate institutions of the Somali state, and its keenness to preserve the stability of Somalia and its people.
Somaliland, which declared independence from Somalia in 1991, has for decades pushed for international recognition, the key priority for president Abdirahman Mohamed Abdullahi since he took office last year.
