Expats remitted SR157bn in 2015 from Saudi Arabia
ISLAMABAD: Remittances sent by expatriates from several foreign countries in Saudi Arabia reached an all-time high of SR156.9 billion in 2015, up 2.3 percent from 2014. In all, SR1.5 trillion in remittances sent by expatriates in the Kingdom have been recorded over a 22-year period, Arab News reported on Monday. The increase in expatriate remittances coincides with the issuance of 1.8 million new work permits to expats from several foreign countries during the past Islamic calendar year, about 4.8 percent of which received government recommendations through contracts or endorsements. According to economic reports, the average monthly transfer by an expatriate in the Kingdom was SR1,440 in 2015, while the total number of expatriates working in the private sector in 2015 reached about 9 million employees, in addition to 72,000 in the public sector.