Saudi Arabia denies imposing fee on remittances
Saudi Arabia has denied rumors that it is imposing a fee on remittances by expatriate workers. The country’s ministry of finance said in the statement it is categorically denying the rumors and affirming its commitment to support the free movement of capital through official channels in accordance with best international standards and practices. The ministry also said the clarification is being made as part of its efforts to boost investor confidence and enhance the competitiveness of the Saudi economy to attract foreign investment. The country has over 10 million foreign workers, who sent approximately $38 billion in remittances to their home countries in 2017.