RIYADH, 30 June 2004 — The banking sector is far ahead of the pack in the Saudization stakes, an industry study says.
The level of Saudization in the banking sector reached 82 percent in April this year, 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.
Saudization in this sector has happened much faster than elsewhere, the study said. Thus in the industrial sector Saudization averages only 15 percent, according to the latest statistics by the Ministry of Commerce and Industry.
The banks’ reports indicated that the average Saudization level ranges between 71 and 82 percent, reflecting the intensive drive to Saudize the work force.
According to the study, Saudi banks provided 1,500 jobs raising the total Saudi work force in the banking sector to 19,500 compared to 18,000 last year. The whole work force in Saudi banks, including the expatriates, was 23,800.
Saudization in women’s branches stood at 99 percent.
Banking sources say Saudization ranges across most of the senior positions in Saudi banks, covering a majority of the 1,210 branches throughout the Kingdom.
Bankers stress the cooperation between Saudi banks and a group of governmental and semi-governmental institutions in attempting to attract qualified nationals into banking. The sector has agreements with the Institute of Public Administration, Saudi universities, chambers of commerce and industry and the Human Resources Development Fund.
Saudi banks have set up training programs especially for university and institutes graduates in banking, management and advanced technology.
