Saudi Arabian Monetary Authority (SAMA) affirmed its general orientation to continue localizing jobs in the insurance sector and liberal professions companies and the importance of doubling efforts to reach the desired goals in raising the nationalization rates, based on Article 79 of the executive regulations of the Cooperative Insurance Companies Control Law and the instructions issued by the SAMA in this regard.

                SAMA issued on Sunday 01/18/1439 AH corresponding to 08/10/2017 AD a decision requiring insurance companies and free professions companies to work on localizing all jobs related to selling insurance products to individuals, and thus selling all insurance products to individuals are by Saudi employees and sales representatives  only. It is prohibited to sell or market it by non-citizens, regardless of their job titles or the contractual relationship that binds them to the insurance company, brokerage company, or insurance agency.

                Insurance companies and liberal professions companies, within the framework of their work according to this decision, must provide SAMA with periodic reports indicating the measures taken in this regard and the company's progress in localizing jobs. The companies must also commit to completing the localization of jobs mentioned in the decision at a rate of (100%) no later than 05/15/1439 AH corresponding to 02/01/2018 AD.

                On 05/11/1438 AH corresponding to 02/08/2017 AD, SAMA had obligated insurance companies and liberal professions companies to localize all jobs related to vehicle claims departments and all jobs related to customer care departments, and jobs related to complaints handling tasks, for all branches of insurance. The mandatory Saudization also included all the jobs in the departments specified above, of all kinds, degrees and levels, in addition to the localization of jobs in the companies to which some or all of these jobs are assigned.

                SAMA stressed that it will take all legal measures against insurance companies and liberal professions companies that are not committed to fulfilling the requirements mentioned in this circular.