By: Mahmoud Salah El Din
Riyadh – Mubasher: Remittances by expatriates living in Saudi Arabia fell 3.92% year-on-year to SAR 11.72 billion in October, from SAR 12.2 billion, according to the Saudi Arabian Monetary Authority's (SAMA) data.
In the first ten months of 2018, remittances by expats inched up 0.1% to SAR 103.5 billion, compared to SAR 103.4 billion in the corresponding period a year before, the Saudi central bank added.
Since the beginning of 2018, the Saudi Labor and Social Development Ministry started to raise returns between SAR 300 and SAR 400 from expatriates that are working in the Saudi private sector.
Saudis remittances
Money transfers by Saudi citizens tumbled 23% to SAR 4.94 billion during October, from SAR 6.42 billion in the same month a year earlier.
From January to October, money transfers by Saudis rose 2.54% to SAR 45.99 billion, compared to SAR 44.86 billion in the prior-year period.
