Saudi Arabia deposits $250 million into Sudan’s Central Bank: statement

Saudi Arabia and the United Arab Emirates have deposited now $500 million into Sudan’s Central Bank, the first instalment of the joint package of aid. (File/Social media)
Updated 21 May 2019

Saudi Arabia deposits $250 million into Sudan’s Central Bank: statement

  • Saudi Arabia and UAE pledged to send $3 billion worth of aid to Sudan
  • The remaining amount will be allocated to meet the urgent needs of the Sudanese people

RIYADH: Saudi Arabia said on Sunday it deposited $250 million with the Sudanese central bank, according to a statement from the Kingdom’s ministry of finance.

Saudi Arabia and the UAE pledged to send $3 billion worth of aid to Sudan, after mass protests led to the ouster of president Omar al-Bashir last month.

The move will strengthen Sudan’s “financial position, alleviate pressure on the Sudanese pound and achieve more stability in the exchange rate," the statement said.

Saudi Arabia and the United Arab Emirates have deposited now $500 million into Sudan’s Central Bank, the first instalment of the joint package of aid.

The remaining amount will be allocated to meet the urgent needs of the Sudanese people, including food, medications and oil derivatives.

Mohammed Abdullah Al-Jadaan, Minister of Finance, confirmed that this deposit constitutes an extension of the Kingdom’s support to the Sudanese people.

He added that this support will strengthen the financial and economic situation in Sudan, especially the exchange rate of the Sudanese pound, which should reflect positively on the living conditions of the Sudanese citizens.


Minimum wage for Saudis raised to SR4,000

Ahmed Al-Rajhi. (Photo/Twitter)
Updated 24 November 2020

Minimum wage for Saudis raised to SR4,000

  • A Saudi employee earning SR3,000 or more but less than SR4,000 will only earn the company half a point in the point-based system. Those earning less than SR3,000 will not be counted at all

RIYADH: Saudi Minister of Human Resources and Social Development Ahmed Al-Rajhi has issued a decision to raise the minimum wage for Saudis registered in the Nitaqat program from SR3,000 ($800) to SR4,000.
A Saudi worker with a minimum salary of SR4,000 will be considered as one worker in the Saudization percentage of the Nitaqat program, which was introduced to promote localization of the workforce.
The program also aims to enhance jobs for Saudi nationals through aligning the quality of nationalization with a range of incentives given by the Human Resources Development Fund.
A Saudi employee earning SR3,000 or more but less than SR4,000 will only earn the company half a point in the point-based system. Those earning less than SR3,000 will not be counted at all.
Part-time Saudi employees will gain a company half point in the Nitaqat system. Flexible work system employees are calculated in the percentage of the Nitaqat program as one-third of a Saudi worker for the entity they work for, provided that they complete a total of 168 working hours and pay social insurance contributions.
The decision also applies to Saudi students residing in the Kingdom who regularly work part-time as flexible work system employees, or permanent part-time workers.