By innovation-sa on October 16, 2017 in News

Saudization of Insurance Agents

Saudi Arabian Monetary Authority (SAMA) issued a decision on October 8, 2017, stating that all insurance companies should reach 100% Saudization by Feb. 1, 2018. 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.

In addition, Insurance companies should provide periodic reports to SAMA on measures taken to Saudize jobs.

Saudi Gazette – 9 October 2017