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ARTICLE · 28 APRIL 2016

Saudi Arabia Update – April 2016

Dentons
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The Human Resources Development Fund (HRDF), which is an affiliate of the Ministry of Labor (MOL), has proposed a new system to reward companies who meet the Saudization requirements with incentives.

Saudi ArabiaCorporate/Commercial Law
Amgad Husein
Amgad Husein
Anas Akel
Anas Akel
Author LinkedIn connections

Legal Developments 

New incentives for achieving Saudization requirements

The Human Resources Development Fund (HRDF), which is an affiliate of the Ministry of Labor (MOL), has proposed a new system to reward companies who meet the Saudization requirements with incentives. The HRDF will be looking at the Saudization percentage, the average wage for Saudis, the percentage of women employed, job sustainability and the average of those with high wages.

Arab News – 3 April 2016

Proposed increase to retirement age for government employees

Several amendments to the Civil Retirement Law (CR Law) were proposed during the weekly Shoura Council meeting. The first proposal was to amend Article 15 of the CR Law by raising the mandatory retirement age from 60 years to 62 years. Other amendments to the CR Law were proposed in view of social and economic changes in the country.

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