‘BIG SETBACK TO EXPATS': GULF COUNTRY TO LOCALIZE JOBS IN THE ACCOUNTING SECTOR

  • 13/06/2021

 A gulf country decided to localize the jobs in the accounting sector. The Ministry of Human Resource and Social Development in Saudi Arabia has decided to implement ‘Saudization’ in the accounting sector jobs. Around 9800 expats will be affected by this decision.

As per the order issued by the ministry, 30% of accounting jobs in private companies employing five or more people must be localized, that is is one-third of all accountants must be natives. The government aims to localize accounting jobs such as accounts manager, zakat-tax department manager, financial reports department manager, auditing department manager, internal auditor, cost accountant and general accountant, bookkeeping clerk, finance clerk, cost clerk, financial audit supervisor.The government also fixed a minimum wage of SAR 6,000 to each Saudi accountant holding a bachelor’s degree while a minimum sum of SAR 4,500 was approved for diploma holders.

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