By Innovation-sa on September 6, 2018 in News

The Ministry of Finance on Monday dismissed rumours regarding imposition of fees on expatriate remittance, according to reports from the Saudi Press Agency. The statement was issued in response to several “baseless and unfounded” reports circulating through the media.


The ministry emphasised that free movement of capital through official channels in accordance with international standards and practices comes in line with Saudi Arabia’s Vision 2030, which plans to diversify the economy and attract foreign investors.


The ministry added that this will also enhance foreign investors confidence in the Kingdom’s economy and financial systems. The Kingdom is home to more than 10 million foreign workers who in 2017 sent almost $38 billion to their homes.


Saudi Gazette – 04 September 2018