SR35,000 bank balance ‘a must’ to hire one maid

SR35,000 bank balance ‘a must’ to hire one maid
Updated 03 November 2015

SR35,000 bank balance ‘a must’ to hire one maid

SR35,000 bank balance ‘a must’ to hire one maid

JEDDAH: The Ministry of Labor has reiterated that employers seeking to hire domestic workers must meet several criteria to qualify, including cash in the bank and no unpaid traffic fines.

These are some of the stipulations that the ministry has highlighted after complaints from employers that their online applications for visas were rejected, a local publication reported recently.
The ministry said the poor financial status of applicants was one of the main reasons for rejecting applications. The other reasons include missing or unclear documents, seeking too many visas, not paying the SR2,000 application fee, and not providing bank statements as proof of income and savings.
The ministry said that to hire one maid a prospective employer must earn at least SR5,000 a month, and have at least a bank balance of SR35,000 over the six months before the application was submitted.
For a second visa, the employer must earn at least SR18,000 and have SR120,000 in the bank.
For the fourth visa, the minimum salary must be at SR30,000 and a bank balance of SR250,000. There is no salary requirement stipulated for a fifth visa, but the applicant must have SR500,000 in the bank.
The ministry said that the number of active visas of an applicant is taken into account whenever new applications are made. It said that non-Saudi families can recruit domestic workers by verifying their salaries, whether they are married or single, and over 25 years of age.


Yazeed Al-Humied, head of Local Holdings Investments at the Saudi Public Investment Fund

Yazeed Al-Humied
Yazeed Al-Humied
Updated 15 January 2021

Yazeed Al-Humied, head of Local Holdings Investments at the Saudi Public Investment Fund

Yazeed Al-Humied

Yazeed Al-Humied is the newly appointed head of Local Holdings Investments at the Saudi Public Investment Fund (PIF).

From October 2016 until December 2020, he was the PIF’s chief of staff, managing the fund’s relationships and creating strategic partnerships locally and internationally.

He also managed internal institutional and investment projects to ensure they were completed on time and met quality standards and developed a governance model for PIF portfolio companies while monitoring their performance.

On top of his new role, Al-Humied will contribute to the PIF as a member of various permanent committees including those responsible for management, and portfolio company nomination.

In addition, he sits as chairman of the National Security Services Co., vice chairman of both the Samba Financial Group and the Saudi Stock Exchange (Tadawul), and is a board member of Saudia airline, the Saudi Civil Aviation Holding Co., and Saudi low-cost carrier flyadeal.

Al-Humied joined PIF as an adviser to the fund’s governor in 2015. In his one-year advisory role, he was responsible for the restructuring, strategy crafting, and posting of PIF’s reallocation to the Saudi Council of Economic and Development Affairs.

He started his career in 2004 with multinational professional services company PricewaterhouseCoopers and four years later joined the Capital Market Authority (CMA) where he headed mergers and acquisitions.

Al-Humied gained a bachelor’s degree in accounting from Riyadh’s King Saud University in 2004 and he is also an alumnus of the London Business School’s corporate finance modular program.