Saudi Arabia denies move to impose fee on remittances

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September 04, 2018

RIYADH-

Saudi Arabia’s Ministry of Finance has dismissed as baseless reports suggesting that the kingdom plans to impose charges on expatriates’ remittances.
It reaffirmed its commitment to the free transfer of capital, including expatriates’ remittances, provided they are done through the recognised legal channels and in accordance with the established world-class standards and practices, said a Saudi Press Agency report.
This is in line with Vision 2030 which will bolster the competitive edge of the economy and its appeal to foreign investment, it added.

This article was first published in  Trade Arabia

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