(MENAFN- Qatar News Agency) Expatriate remittances from Saudi Arabia rose by 17 percent to SR133.3 billion in the first 11 months of 2013 compared to SR113.9 billion for the same period last year.
Likewise, Saudi remittances to foreign countries rose by 10 percent to SR69.6 billion in November 2013 compared to SR63.3 billion in November 2012, Al-Eqtisadiah newspaper reported
Personal remittances by Saudis and foreigners were up by 14 percent to reach SR202.9 billion in the last 11 months
Personal money transfers of non-Saudis comprised 75 percent of the overall personal remittances
According to the report, personal remittances, which fall within local banks' sales of hard currencies, are meant to cover some 15 items such as imports, personal transfers, travel expenses abroad, investments in foreign countries and sales to government agencies.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.