New Omanisation target for insurance sector in 2018

Muscat, April 1: Sheikh Abdullah bin Nasser al Bakri, Minister of Manpower, has issued a ministerial decree No 2018/113 determining the percentage of the national workforce in private sector establishments operating in the field of insurance.

The percentage of the national workforce in private sector establishments operating in the insurance sector shall be 70 per cent at the end of 2018, and 75 at the end of 2019 and 2020. respectively.

In the top-level administration jobs, the Omanisation shall be 40 per cent in 2018, 45 per cent in 2019 and 50 per cent in 2020

In the middle-level administration jobs, the Omanisation shall be to 65 per cent in 2018, 75 per cent in 2019 and 75 per cent in 2020

In the specialized and operational fields, the Omanisation will be 90 per cent at the end of this year.

The new decision is based on the Labor Law promulgated by Royal Decree No. 35/2003 and the Royal Decree No. 2004/76 defining the role of the Ministry of Manpower and the Ministerial Decree 2013/192 determining the percentage of the national workforce in private sector establishments operating in the field Insurance.