Money TransferSaudi Arabia

Expat Remittances From Saudi Arabia Drop 17.6% in November

According to the Saudi Arabian Monetary Authority (SAMA), Remittances outflow by expatriates fell by 17.6%, reaching SR 9.9 billion in November as against SR 12.02 billion in November last year.

Remittances sent by the Saudi Nationals also dropped by 39.5%, reaching SR 4.8 billion last month compared to SR 7.9 billion during the same period in 2017: UAE Announces 6 month visa for job seekers and free transit visas.

However, the value of Point of Sale (POS) transactions in the Kingdom marks the highest level of POS operations in its history. POS transaction values amounted to SR 209.98 during the first 11 months of this year compared to SR 180.25 billion in the same period of 2017: Saudi Arabia reveals the largest ever state budget.