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Unfortunately, your contract (of two years) is not tied with your iqama validity (1 year). Check if there's any other clause in  your contract with regards to resignation before ending the 2 years agreement....otherwise, your employer (if he's that bad) can still black list you as long as he wants.
If your iqama is expired - which is really a dangerous situation right now (due to your employer unable to renew it for some organization/company reason) - there was a news before that you can switch employers. You just have to have someone to work your way in Ministry of Labor, or try knowing more details from experts...
if it would be better if, endure patience, and finish the contract and file for non-renewal / resignation...and keep a good, peaceful relationship with your employer!  <fingers-crosse> 

Shukran - it seems that is my only option. I can resign and give one months notice. However, my colleague has done that, they have still blacklisted him! My concern is, I complete my 2 years contract and then they still go ahead and blacklist me for not renewing with them. Can they do that as well to me?

Lails 89 wrote:

Shukran - it seems that is my only option. I can resign and give one months notice. However, my colleague has done that, they have still blacklisted him! My concern is, I complete my 2 years contract and then they still go ahead and blacklist me for not renewing with them. Can they do that as well to me?

Sadly, Yes! that is why, this is one of the reasons why many people are calling for abolishment of sponsorship system! 

Im work here saudi arabia..mu question is why im blacklist i will send money to phillipines but all money transfer is my iqama is blacklist..pls help me why like that??

Can anybody help me becouse my agency policy if im going to exit they will blacklist my name to work in saudi for the next 5 years

Hi hello,my question is I don't have iqama when I work there  I'm only overstay in Saudi.it possible I came back I exit July 24 2015