Saudi Arabia reports 18% drop in expat remittances

      Published on Wednesday, 2 January , 2019      859 Views     
Saudi Arabia reports 18% drop in expat remittances

Expat remittances fell by 18% in November, according to Saudi Arabian Monetary Authority (SAMA).

The banking authority said  $2.6 billion (SAR9.9bn) was transferred by expats in November, compaired to $3.2bn (SAR12bn) in the same month last year,

SAMA said remittances by Saudis also dropped by 39.5% – $1.2bn (SAR4.8bn) in November, compared to $2.1bn (SAR7.9bn) in 2017.

The value of retail (point of sale) transactions in the kingdom reached a record $56bn (SAR210bn) for the first 11 months of this year, up from $48bn (SAR180bn) in 2017.

Category Saudi News | 2019/01/02 latest update at 5:00 PM
Source : Arabian Business | Photocredit : Google
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