Riyadh – Mubasher: Remittances from expatriates in Saudi Arabia inched up 0.06% year-on-year in the first half of 2018, the Saudi Arabian Monetary Authority's (SAMA) figures showed.
Remittances rose to SAR 71.061 billion ($19 billion) during the period between January and June, from SAR 71.016 billion ($18.9 billion) in H1-17, SAMA’s data added.
Expatriates’ remittances levelled up 0.59%, registering SAR 35.1 billion ($9.4 billion) in Q2-18, from SAR 34.9 billion ($9.3 billion) in the corresponding period a year earlier.
In June, expatriates’ remittances rose 1.7% to SAR 10.6 billion ($2.8 billion), from SAR 10.4 billion ($2.7 billion) in the same month in the prior year.
The value of remittances by Saudi citizens amounted to SAR 33 billion ($8.8 billion) in the first six months of 2018.
Since the beginning of 2018, the Saudi Labor and Social Development Ministry started levying a tax ranging SAR 300 to SAR 400 on expatriates that are working in the Saudi private sector.
As of July 2017, the kingdom started to impose fees on companions of foreign workers.
