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The Capital Market Authority's (CMA) data showed that the number of employees at licensed financial institutions reached 4,606 by the end of the third quarter of 2021, an increase of 115 employees quarter-on-quarter.
Meanwhile, the localization rate in those institutions reached 77% by the end of Q3 2021, according to the report of licensed persons issued recently.
|
Number of Employees at licensed financial institutions since 2017* |
||
|
Period |
Number of Employees |
Saudization |
|
Q1 2017 |
4420 |
70% |
|
Q2 2017 |
4351 |
70% |
|
Q3 2017 |
4379 |
70 % |
|
Q4 2017 |
4342 |
71% |
|
Q1 2018 |
4385 |
72% |
|
Q2 2018 |
4332 |
72% |
|
Q3 2018 |
4353 |
72% |
|
Q4 2018 |
4325 |
73% |
|
Q1 2019 |
4317 |
73% |
|
Q2 2019 |
4240 |
73% |
|
Q3 2019 |
4340 |
73% |
|
Q4 2019 |
4348 |
73% |
|
Q1 2020 |
4350 |
73% |
|
Q2 2020 |
4371 |
73% |
|
Q3 2020 |
4417 |
74% |
|
Q4 2020 |
4395 |
75% |
|
Q1 2021 |
4464 |
76% |
|
Q2 2021 |
4491 |
76% |
|
Q3 2021 |
4606 |
77% |
*Includes data of companies that were licensed then but were unlicensed later on.
The number of licensed financial institutions reached 108 by the end of Q3 2021. SNB Capital topped the list with 410 employees, with 89% Saudization rate followed by HSBC Saudi Arabia Ltd with 304 employees and 82% Saudization rate.
Meanwhile, Merak Capital, JOA Capital, Razeen Capital and Tamra Capital achieved 100% Saudization.
|
Number of Employees at licensed financial institutions by Q3-end |
||
|
Company |
Number of Employees |
Saudization |
|
Merak Capital |
9 |
100% |
|
JOA Capital |
4 |
100% |
|
Razeen Capital |
5 |
100% |
|
Tamra Capital |
4 |
100% |
|
Asyaf Investments |
21 |
95% |
|
Alinma Investment Company |
149 |
95% |
|
Miyar Capital |
12 |
92% |
|
Al Rajhi Capital Co. |
225 |
91% |
|
Arch Capital |
10 |
90% |
|
SNB Capital |
410 |
89% |
|
Riyad Capital |
283 |
88% |
|
Ehata Capital |
8 |
88% |
|
Albilad Capital |
153 |
88% |
|
Impact Capital |
13 |
85% |
|
National Bonds Co. |
19 |
84% |
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