Saudi Arabian Monetary Agency (SAMA) has given banks three months to complete a list of jobs that could be localized, encouraging them to hire Saudi citizens instead of expatriates, Al Sharq Al Awsat newspaper reported Monday.

"The move was taken as banks were estimated to be able to increase their recruitment of Saudis by 95 percent," sources told the paper, adding it was part of the coordination between SAMA and the labor ministry to curb the unemployment."

Secretary and human development jobs could be taken by Saudis in Banks, while top consultancy posts are hard to be localized, economist Fahad Al Mushari told the paper.

The labor ministry announced earlier that Saudi Arabia recruits half a million expatriates every year and the unemployment rate among Saudis is around 12 percent. Endi

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