Ex­pats re­mit­ted SR157bn in 2015 from Saudi Ara­bia

The Pak Banker - - NATIONAL -

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.

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