Terminate all Expat Insurance Agents before Jan 2018 – SAMA

In pursuance of Vision 2030, Saudi Arabia has been striving hard to localize the jobs where Saudi applicants are available. They have taken many decisions in the past to implement 100% Saudization in many sectors. 

Recently, Ministry of Health issued a circular to all the government hospitals that they will not be hiring any expatriate doctor. – May 2017[irp]

In the same way, Ministry of Education has also circulated letters to communicate all public universities that there will be no more University jobs for Expatriates in the Kingdom. – August 2017

Continuing to this, Ministry of Labor has decided not to hire expatriate engineers with less than 5 years of experience. Engineering companies involved in urgent projects have been given a three-month deadline to terminate the contracts of inexperienced engineers who applied for recruitment before the decision. – Oct 2017

Now in the latest development, Saudi Arabian Monetary Authority (SAMA) has issued a decision to 100% Saudize all the jobs related to insurance agents in Saudi Arabia. There will be no expatriate working in the Insurance sector of Saudi Arabia for on the sales related jobs.

Non-Saudis are prohibited from selling or marketing insurance products to individuals whatever their job titles or contractual relations with insurance companies or intermediary companies or insurance agencies.

Insurance companies must hire enough Saudi Insurance agents before Feb 01, 2018 to avoid any business loss. In other words, Insurance companies have been given a deadline to terminate all expatriate insurance agents before Jan 31, 2018. They can also relocate the insurance agents to some other jobs in the company.

This is not the first time SAMA enforced Saudization on the insurance sector. Earlier this year in February, SAMA made it compulsory on insurance companies to Saudize all jobs related to vehicles claims management, customer service, dealing with complaints in all branches of insurance companies.

It has also been published in the newspapers that Saudi government is going to make it compulsory on all the shops selling women garments and accessories to hire only female staff. It includes shops and stalls selling ladies perfumes, shoes, bags, stockings, readymade garments, and textiles.

It also targets small shops that sell wedding dresses, formal wear, abayas, robes, mother care requirements, and pharmacies in malls selling cosmetics.

Source: Saudi Gazette