Regulators in Saudi Arabia suspended some of Mobily’s services on Monday after the telco failed to hire enough Saudi nationals to meet the kingdom’s Saudisation targets, before lifting the suspension later in the day.
Sales of prepaid and postpaid packages were suspended by the Communications and Information Technology Commission (CITC) as a result of Mobily’s failure to hire enough Saudi nationals. As a result, shares of Mobily tumbled on the Saudi stock market.
In recent years, the Saudi government has encouraged businesses to hire more Saudi nationals to lower unemployment, a process known as Saudisation.
The suspension was lifted the same day. The CITC did not say why the suspension was lifted.
Gulf Business reported that towards the end of 2017, the CITC issued a plan to address Mobily’s failure to fulfill its Saudisation targets for executive management.