UAE banks lend $5.36bn to non-resident clients

UAE banks lend $5.36bn to non-resident clients
UAE banks lend $5.36bn to non-resident clients

Thank you for reading the news about UAE banks lend $5.36bn to non-resident clients and now with the details

Jeddah - Yasmine El Tohamy - The unemployment rate among Saudis decreased to 14.9 percent in Q3 2020 from 15.4 percent in Q2 2020, compared to 11.8 percent in Q1 2020, according to data from the Saudi General Authority for Statistics.

In addition, unemployment rate among males and females stood at 7.9 percent and 30.2 percent, respectively in the same period.

Meanwhile, unemployment rate among all residents (15 years and above) dropped from 9 percent from 8.5 percent by the end of Q3 2020.

The Saudi labor market and economy are still impacted by the COVID-19 pandemic.

The total number of employed persons across the Kingdom stood at 13.46 million in Q3 2020. Males accounted for 82 percent, or 10.97 million of total labor force, while females represented 18 percent, or 2.49 million.

Meanwhile, employed expats accounted for nearly 10.20 million, representing 75.8 percent of the total employees, while nationals accounted for 24.1 percent, or 3.25 million.

A total of 8.50 million workers, or 63.2 percent of total labor force, are subject to the regulations of the General Organization for Social Insurance (GOSI), while 9.4% percent are subject to the rules of the Civil Service.

Meanwhile, 27.3 percent of total labor force represents domestic workers.

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