Saudi capital market institutions' workforce grows to 7,622 in Q1

Employment at Saudi capital market institutions rose to 7,622 by the end of the first quarter, a gain of 283 from the prior period, the Capital Market Authority said in a report.

The Saudization rate held at 76%, unchanged from the previous quarter, the regulator said.

Licensed institutions numbered 198. SNB Capital was the largest employer with 434 staff and an 87% Saudization rate. Al Rajhi Capital followed with 349 employees and 85% Saudization.

Fourteen firms achieved full Saudization, employing a combined 76 people. Mahfaza led that group with 16 employees. Target Partners had the next largest staff at 9.

The report covers both registered and unregistered personnel at all 198 licensed capital market firms. No comparable year-earlier figure was provided.