Study: Saudization rate in banks amounts to 82%, in industry just to 15%
The Saudi banking sector is leading by far in terms of Saudization, an industry study indicated.
The level of Saudization in the banking sector reached 82 percent in April 2004, up five percent by the end of the same period last year, according to a study of the annual reports of all the Kingdom’s commercial banks.
In the industrial sector, however, Saudization averages only 15 percent, according to the latest data provided by the Ministry of Commerce and Industry.
The banks’ reports indicated that the average Saudization level ranges between 71 and 82 percent.
According to the study, Saudi banks provided 1,500 jobs raising the total Saudi work force in this sector to 19,500 compared to 18,000 last year. The whole work force in Saudi banks, including the expatriates, amounted 23,800. Saudization in women’s branches stood at 99 percent, the report added. (menareport.com)
© 2004 Mena Report (www.menareport.com)