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Saudi denies imposing fees on expatriate remittance, calls reports baseless

Saudi Finance Ministry confirmed that it supports the free movement of capital through official channels in accordance with international standard and practices

IANS  |  Riyadh 

Saudi Arabia's Crown Prince Mohammed Bin Salman
Saudi Arabia's Crown Prince Mohammed Bin Salman. File photo

on Monday dismissed reports saying it plans to impose fees on expatriate remittance, Saudi Press Agency reported.

The confirmed that it supports the free movement of capital through official channels in accordance with standard and practices.

The ministry added that this will also enhance foreign investors' confidence in the kingdom's and financial systems.

The ministry also said such an approach comes in line with the to diversify the and attract foreign investments.

The ministry clarified that the statement was issued in response to "baseless and unfounded" media reports.

The ministry also dismissed in 2017 similar reports.

First Published: Tue, September 04 2018. 08:20 IST
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