Riyadh – Mubasher: The remittances of expatriates to Saudi Arabia went down 2.3% year-on-year in August 2017 to SAR 12.5 billion from SAR 12.8 billion, the Saudi Arabian Monetary Authority’s (SAMA) report said.
Month-on-month, expatriates remittances stood at SAR 11.3 billion during August 2017, the SAMA added.
The remittances of expatriates reached SAR 34.9 billion during the second quarter of 2017, compared to SAR 40.3 billion in the year-ago period.
The Saudi citizens' remittances amounted to SAR 6.8 billion in August 2017, compared to SAR 4.9 billion in the corresponding month in the year before.
Since 1 July, the Saudi General Directorate of Passports (GDP), the Ministry of Finance (MoF), and the National Information Center started collecting money from each companion arriving with and expatriate who works in the Saudi private sector.
Each companion who arrived with an expatriate will pay SAR 100 per month starting from July 2017, SAR 200 per month from the beginning of July 2018, SAR 300 per month from the beginning of July 2019, and SAR 400 per month from the beginning of July 2020.
