Expat remittance from Saudi Arabia drops 11% in 9 months

Pedro Gonçalves
Expat remittance from Saudi Arabia drops 11% in 9 months

Remittances from expats in Saudi Arabia recorded an 11% drop YoY as they sent SR93 billion ($24.8bn) overseas in the first nine months of the year. However, according to figures released by the Saudi Arabian Monetary Authority (SAMA) there is a 4% increase in the amount of money wired by expats during September, reaching SR10.28 billion, against the same month last year. The figures also revealed that transfer of money by Saudis outside of the country fell 9% for the first nine months t...

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