RIYADH, Oct 09 (Arab News): Expatriate remittances from Saudi Arabia reached SR11.86 billion ($3.16 billion) in August, marking a 10 per cent annual increase, according to recent data.
Figures from the Saudi Central Bank, also known as SAMA, also revealed that transfers sent abroad by Saudi nationals rose by 19 per cent year on year, totaling SR5.83 billion.
As one of the world's largest sources of remittances, Saudi Arabia plays a crucial role in shaping the financial well-being of millions of households worldwide. With nearly 75 per cent of the Kingdom's labor force consisting of foreign workers, Saudi Arabia's policies and job market conditions significantly influence the flow of remittances, highlighting not just the country's economic strength.
Saudi expat remittances see 10pc growth
FE Team | Published: October 10, 2024 00:08:07
Saudi expat remittances see 10pc growth
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