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In 2008, international security standards were implemented for all bankcards issued in Saudi Arabia. The international system for smart payment card standards was also implemented. In 2012, compliance with the international payment card security standard (PCI) was achieved. In 2015, the new identity of the Saudi Payment Network, Mada, was launched.
The General Organization for Social Insurance (GOSI) is a Saudi Arabian government agency concerned with social insurance in the country. GOSI is supervised by a board of eleven directors from government departments, employers and insured persons.
In an assessment undertaken by the United Nations e-Government Survey, Riyadh, Saudi Arabia, was ranked the 30th among 40 other cities. [4] In August 2019, Saudi Arabia announced a royal decree to establish the Saudi Authority for Data and Artificial Intelligence to support the innovation and digital transformation in the country.
Arabian Shield Cooperative Insurance Company sells insurance products including motor, marine, property and medical insurance. In addition, the company also provides claim settlement services to its policyholders. Its customer base includes the private individuals and also the corporate clients. [1]
Although she believes that the guardianship system needs to be reconsidered, she thinks that Absher is an important step towards facilitating women-guardians related issues in Saudi Arabia. [21] Absher manager Atiyah Al-Anazy announced in 2019 that two million women were using the application in Saudi Arabia to facilitate their transactions. [22]
In 2005, health insurance was made compulsory for all non-Saudi nationals working in the country under the Cooperative Health Insurance Act. [5] [6] In 2008, this act was extended to include Saudi nationals working for the private sector. Enforcement of this compulsory coverage include fines for non-compliant companies and a refusal to renew ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Saudization (Arabic: السعودة), [1] officially the Saudi nationalization scheme and also known as Nitaqat (Arabic: النطاقات), is a policy that is implemented in the Kingdom of Saudi Arabia by the Ministry of Labor and Social Development, which requires companies and enterprises to fill their workforce with Saudi nationals up to certain levels.