Banking Jobs in Saudi Arabia
The Saudi Arabian kingdom is the largest Arab country in the region of Middle East. Saudi Arabia border is linked with Jordan and Iraq in the north and the north east side, United Arab Emirates, Kuwait, Qatar, Oman and Bahrain are on the southeast side and Yemen is on the south of Saudi Arabia. The economy of Saudi Arabia is based on the oil and the government of Saudi Arabia has a strong hold over the major economic activities in the country. Saudi Arabia has the world’s 18% of oil reserves and the economy of Saudi Arabia is heavily based on its oil exports. The petroleum sector of Saudi Arabia cover almost all its revenues and export earnings. People visit in Saudi Arabia for their religious matters but when we talk about job opportunities in this country it changes the route.
Economy of Saudi Arabia
The economy of Saudi Arabia is based on oil exports. Saudi Arabia is a dominant member of OPEC and therefore plays a leading role in reforms and decision making in OPEC. The petroleum sector of Saudi Arabia contributes round about 80% of the budget revenues, 91% of Export earnings and 47% of the GDP of the country. The government of Saudi Arabia is encouraging the role of private sector to invest in different sectors of the country and contribute in the growth of Saudi Arabia’s economy. Over 7 million people from different countries works in Saudi Arabia and plays an important role in the economic growth of Saudi Arabia. The government of Saudi Arabia is working on the major economic transformation, the reform of this economic transformation is a part of a new long term strategy that is named as vision 2030. And the main aim of the national transformation is to wean the economy of Saudi Arabia off from its addiction to oil. To further implement the vision of the government of Saudi Arabia the banks will play a very important role. To encourage the private sector to invest in Saudi Arabia, and to help the entrepreneurs in establishing their businesses major contribution of banks will be needed. Due to this major role of banking sector of Saudi Arabia will be needed this will open many job opportunities in banking sector of Saudi Arabia.
Banking Sector of Saudi Arabia
Banks are the financial institution which provides the financial service to public sector and commercial sector. The traditional function of banks is to collect the deposit, to give loans, agency services, to provide currency notes, to work as an agent, financial advisor, manage the foreign exchange, to control credit and to work as the lender of the last resort. The economic significance of the banking sector is to provide the facilities of trade and industry, provide facilities to the agriculture sector, give facilities to develop the services sector, implementation of the monetary policy, to encourage the international trade .etc. the different types of banks are the Central Bank, commercial banks, rural banks, housing banks, specialized banks and Co-operative banks. The banking sector of Saudi Arabia includes several different banks, all of the Saudi Arabia’s banks that are responsible to produce the job opportunities are.
- Saudi Investment Bank
- Alinma Bank
- Banque Saudi Fransi
- Riyad Bank
- Samba Financial Group (Samba)
- Saudi Hollandi Bank
- Al Rajhi Bank
- Arab National Bank
- Bank Al-Bilad
- Bank AlJazira
Banking jobs in Saudi Arabia
The banking sector of Saudi Arabia is booming industry. According to latest Saudi Arabia Employment Index Saudi Arabia is a leading country that provides the jobs in banking sector. There is an increase in jobs opportunities by 38% this year and these figures are even higher as compared to other regional countries. The Saudi nationals are preferred for these banking jobs over the former’s, but due to bulk of jobs in banking sector in Saudi Arabia the people from the different countries can also avail these opportunities for their better future. The banks in Saudi Arabia pays a handsome salary package to its employees more than most of the banks in Asia. The banking jobs are advertised in leading newspapers of Saudi Arabia, the banks websites and in the social media. People often get confused when they come across to find the banking job in Saudi Arabia they are unable to find the relevant job, this is because the name of the country is not mentioned in an advertisement, the respectable cities are mentioned for the job. So there is no need to confuse yourself over this issue we are there to help you find these jobs. The examples of different job add in Saudi Arabia are:
- Jobs in Al Rahi bank
- Vacancies vacant in Bank ALJazira
- Banking job opportunities in Jeddah
- Banking Staff Required in Rayadh
How to apply for a Bank Job in Saudi Arabia
The application procedure in Saudi Arabia doesn’t involve any rocket science ii it. You just have to follow the most simple, yet formal protocols for it. If you are interested in starting your carrier in the banking sector of Saudi Arabia just fill up the job application form and send it to the concerned authorities along with your resume. You will be contacted in case of consideration.
Eligibility criteria for banking jobs in Saudi Arabia
Most of the banking jobs in banking sector involve financial dealing and managing skills. Therefore the bank authorities preferred the individuals having a degree in commerce or management sciences. However few of the jobs doesn’t include the necessity of such higher and professional degrees, such as the lower and security staff of banks. Still there are few basic requirements that must be processed by each and every single individual who is interested in starting a carrier in the Banking sector of Saudi Arabia. The basic requirements are given below:
- Attested and verified educational documents
- Experience certificate (providing references)
- NOC (if already employed)
- English and Arabic proficiency
- Character certificate (from last employer)
- Police clearance certificate (non-criminal record)
- Medical and physical fitness certificate
- Valid passport (overseas)
The reason behind writhing this article was to provide you an overview of the banking sector in Saudi Arabia and the carrier opportunities provided by it. If you have any relevant question about the article, you can leave it in the comment box. Our team will respond in less than 24 hours.