2001 News Story

Prince Nayef approves Saudization of gold souqs

Minister of Interior Prince Nayef bin Abdulaziz, who also heads the Manpower Council, has approved a program of gradual Saudization of jobs at shops selling gold and jewelry. The number of Saudis employed in gold souqs should never fall below 30 percent of the workforce, and this rate should go up to 50 percent next year, and reach 100 percent by the year after.