Ministry of Finance Dismisses Reports Alleging Imposition of Charges on Expatriates’ Remittances as Baseless

Riyadh, The Ministry of Finance re-confirmed today its abidance to the free transfer of capital including Expatriates' Remittances, provided it is done through the recognized legal channels and in accordance with the established world class standards a...

Riyadh, The Ministry of Finance re-confirmed today its abidance to the free transfer of capital including Expatriates' Remittances, provided it is done through the recognized legal channels and in accordance with the established world class standards and practices, as this will also enhance foreign investors' confidence, in the Kingdom's economy and financial systems.

This is in line with Vision 2030 which will bolster the competitive edge of the economy and its appeal to foreign investment.

This statement was issued in response to baseless and unfounded reports to the contrary by some media outlets.

It's noteworthy that the ministry has previously denied such rumors, especially, in a statement made by its official spokesman, on January 2017, in which he denied, by and large, any move to impose such charges on expatriates' remittances.

Source: Saudi Press Agency