Saturday, June 14, 2025
24.1 C
Lagos

Saudi Arabia Bans Foreigners from Selling Mobile Phones

Saudi Arabia’s government has passed a decree banning foreign workers from selling and maintaining mobile phones and accessories for them.

It is also requiring that retail stores are at least 50% staffed by Saudi nationals within three months, and be entirely staffed by locals within six months.

The Ministry of Commerce and Industry said that the deadline to Saudise the telecom sector will come into effect on 2nd July.
Violators face up to two year in prison and will be deported.

The moves after reports that more than half of phone retailers in the country are owned by a Saudi national in name only, and are fronts for foreign investors.

It could also see around 20,000 Saudi’s offered jobs in the retail sector, and may be seen as the beginnings of a more aggressive move to create non-oil jobs for Saudi nationals.

spot_img
spot_img
spot_img

Hot this week

NGX Group Chaiman, Umaru Kwairanga, Extols China-Africa Trade Expo 2025

By Umaru Kwairanga It is an honour and a privilege...

Sterling Bank Floats N2bn Private University Scholarships for Young Nigerians

Nigeria’s most forward-looking financial institution, Sterling Bank, has announced...

Emirates SkyCargo Bolsters Connectivity between Europe, Global Network

Emirates SkyCargo, the cargo arm of the world’s largest...

NCC, Stakeholders Tackle Rural Connectivity Challenges

The Nigerian Communications Commission (NCC) has collaborated with the...

CBN Debunks Report on BDC Recapitalisation Deadline

The Central Bank of Nigeria (CBN) has debunked a...

Topics

TRUMP: 7 Telecom Action Plans

Last Friday, Donald Trump was sworn in as the...

Pension Industry Will Invest in Infrastructure, Real Estate to Diversify Investment

As the new Contributory Pension Scheme (CPS) continues to celebrate its runaway successes, Mrs. Chinelo Anohu-Amazu, Director General, National Pension Commission (PenCom) speaks on the challenges of the scheme and the way forward. Review of Pension Industry in 2014 The activities in the Pension Industry were guided by the need to ensure sustainability and safety of pension funds as well as payment of retirement benefits. In the course of the year, and in line with the dynamics of the operating environment, some of the supervisory and regulatory frameworks were modified.

Stanbic IBTC Shines at PEARL Awards

The Stanbic IBTC Group has added to the number...

Law Union & Rock Insurance Reports N4.2bn Premium in 2017

Law Union & Rock Insurance Plc, one of the...

₦5tn AMCON Debt: Finance Minister, BPP, ICPC Join Recovery Campaign

The Minister of Finance, Mrs. Zainab Shamsuna Ahmed has charged...

N400m Debt: AMCON Takes Over Doggi Group Assets in Abuja

Following the order of Honourable Justice A.I. Chikere of...

Transcorp Power Names Christopher Ezeafulukwe as Non-Executive Director

Transcorp Power Plc wishes to notify the investing public...

The Global Airlines Financial Monitor: May 2017

Global airline share prices performed strongly in May,...
spot_img

Related Articles

Popular Categories

spot_imgspot_img