SBI's Saudi expansion plans hit recruitment roadblock
Plans of State Bank of India (SBI) to expand operations in Saudi Arabia have hit a hurdle, with that country’s central bank — the Saudi Arabian Monetary Agency (Sama) — asking it to mostly recruit their citizens as staff. The issue is expected to figure in the ongoing visit of the finance minister P. Chidambaram, to Saudi Arabia. SBI has conveyed to the finance ministry its reservations in employing Saudi Arabians as staff beyond a level and wanted Chidambaram to take up the issue in the bilateral meeting.
Read the Financial Express news report here.