Saudi gov't moves to reassure expats their accounts will not be seized

Saudi gov't moves to reassure expats their accounts will not be seized

The authorities in Saudi Arabia moved today to reassure expats living in the kingdom that their personal bank accounts will not be frozen if their transactions reveal a balance greater than their monthly wage. The government was responding to reports that have circulated widely on social media that moves were afoot to freeze the bank accounts of any expats whose monthly incomings exceeded their official income.  However the Saudi Arabian Monetary Authority (SAMA) tweeted this morning: "...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.