Localization of cadres for financial sector activities in Saudi Arabia

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Localization of cadres for financial sector activities in Saudi Arabia

An agreement between the “Human Resources” and the “Central” for an integrative relationship in the development of national competencies


Tuesday – 17 Dhul-Hijjah 1442 AH – 27 July 2021 AD Issue No. [
15582]


Saudi Arabia continues to move to fill the labor market with Saudi competencies and cadres (Middle East)

Riyadh: «Middle East»

Saudi Arabia continues the project to localize new tracks in the labor market and fill them with Saudi cadres, this time to witness the financial sector. Yesterday, the Ministry of Human Resources and Social Development signed a joint memorandum of understanding with the Saudi Central Bank (Sama) and the Human Resources Development Fund “Hadaf” to start steps to fill the activities of Financial sectors in national human resources.
The memorandum aims to achieve cooperation to ensure the consistency of the work of the Ministry and the Saudi Central Bank to localize all sectors supervised by the Saudi Central Bank, raise the level of employees of the entities subject to its supervision, and coordinate with regard to localization and training in all financial and financing activities.
The agreement comes within the Ministry’s plans to build complementary relationships and strategic partnerships with various sectors, to achieve the goals of the transformation and national programs and the Kingdom’s Vision 2030.
The last step is consistent with what the ministry announced at the beginning of this month to localize a number of vital sectors and fill them with Saudi human resources, as ministerial decisions were issued that include professions and activities in legal advice, law firms, customs clearance, real estate activities, the cinema sector, driving schools, and technical professions. and engineering.
The Saudi Minister of Human Resources, Eng. Ahmed Al-Rajhi, affirmed that “this year’s plan aims to provide more than 203 thousand jobs,” noting that the issuance of decisions comes as a continuation of the ministry’s strategy to enable national cadres to obtain quality and distinguished job opportunities, and to provide an attractive and stimulating work environment that contributes to Attracting more sons and daughters of the country to work in the private sector, and increasing their participation in the labor market.
It is known that since the beginning of this year, several settlement decisions have been issued, including closed commercial complexes, restaurants, cafes, central catering markets, and educational professions in private public education.
It is noteworthy that the ministerial decisions to support establishments and job seekers according to organized mechanisms and a specific period of time, included qualitative professions in vital sectors, including dentistry, pharmacy, engineering, and accounting, and includes targeted qualitative jobs, leadership and supervisory jobs, sustainable jobs with growth and development, and jobs Which requires high level technical skills.
The movements of “human resources” to localize jobs are parallel to guaranteeing the minimum salaries, the most prominent of which was what the ministry disclosed that the minimum salary for Saudi men and women working in senior management in the operation and maintenance sector in public authorities is 9,000 riyals (2.4 thousand dollars), which rises according to years of experience. In the sector, according to what was stated in the Emiratisation Guide for Operation and Maintenance Contracts in Public Entities.
The guide set the minimum salaries for the engineering and specialist levels at 8,400 riyals ($2.2 thousand) and 7,000 riyals ($1.8) for the supervisory level, as the salaries of Saudis in operating and maintenance companies are subject to supply and demand, and the entity that issues the competition brochure is also required to determine the minimum salary. Saudi employees at each job level, and ensure that the contractor adheres to the minimum wage.
The job levels in the operation and maintenance sector are divided into 6 standard levels according to the minimum qualifications and experience required for each level, with the public entity having the right to have different job levels, as it is divided into the senior management level, and it includes the leadership positions responsible for managing the technical and administrative aspects of the project. As a project manager or assistant project manager.


Saudi Arabia

Saudi economy







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