Saudi Arabia pledges support for Iran following President Raisi's copter mishap    Saudi Arabia secures presidency of ALECSO Executive Council for third consecutive term    Oleksandr Usyk claims undisputed heavyweight title in 'Ring of Fire' match in Riyadh    Saudi Arabia: The emerging cultural powerhouse shaping global soft power dynamics    How SP Jain's EMBA meets modern professionals' needs    King Salman to undergo medical tests due to high fever and joint pain    Saudi Crown Prince, US National Security Advisor discuss nearly finalized strategic agreements    France deploys over 600 gendarmes in New Caledonia amid unrest over voting rights    Lavrov accuses Europe of using 'Russian threat' myth to escalate arms race    Saudi students shine at international science and engineering competitions, winning 114 awards    Umrah not allowed for those without a Hajj permit between May 24 and June 26    Aramco signs three MoUs with American companies to advance lower-carbon energy solutions    Jorge Jesus praises Al Hilal's resilience after dramatic last-minute draw in Riyadh Derby    King Abdulaziz University launches female admissions in maritime studies    Star golfer Scottie Scheffler arrested over alleged assault on police officer    Saudi Arabia's RGA implements innovative road technology for Hajj season    Saudi Arabia joins International Agency for Research on Cancer    Row erupts over portraits of Australia's richest woman    Al-Ittihad's victory drought continues, misses chance to qualify for ACL elite    Indian spices face heat over global safety concerns    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Proposed cap on remittances upsets expats
By Shahid Ali Khan
Published in The Saudi Gazette on 27 - 10 - 2011

Expatriates of various nationalities are upset with the plan proposed by the Labor Ministry to introduce a ceiling on their remittances back home.
They said Saudi Arabia was the only country in the Gulf region that encouraged foreign workers to seek employment and send their earnings to their dependents back home.
Media reports cited Adel Fakieh, Labor Minister, as saying recently that under the proposed system all guest workers in the Kingdom must keep the bulk of their income within the country.
Any move aimed at putting a ceiling on remittances would not be in the mutual interest of the foreign workers and the Kingdom's development, many expatriates said.
Muhammad Quaiser, a manager of a tour and travel agency and head of a social organization, said the majority of foreign workers, particularly from the Asian subcontinent, are in the low-income group and have difficulty saving money for future use.
“People from Third World countries, who form the majority of the seven million foreigners in the Kingdom, are supporting their families back home through monthly remittances,” said Quaiser.
He said most low-income earners have adopted a policy of living a simple life in Saudi Arabia and sending money home to family members who depend on them for day-to-day expenses.
Since the economic development that started in Saudi Arabia in the 1970s, the majority of foreign workers' families have been surviving on the monthly remittances sent to them from the Kingdom. It was the Kingdom's generous policy that allowed expatriates to come and work for the development of the country, he said. This way, both parties are mutually benefited — expatriates by supporting their loved ones back home and the Kingdom in witnessing huge infrastructure development projects.
Sadiq Muhammad, a systems analyst, said the majority of foreign skilled workers accept positions in Saudi Arabia because the Kingdom not only offers them employment opportunities but also allows them to send their savings to their families for a brighter future.
“A skilled workforce will only be attracted to work in Saudi Arabia if they are allowed to save money for their children's education and family's well-being. The economic benefit for the Kingdom will be realized in the long-term after the country establishes huge industrial projects through utilizing the expertise of foreign workers,” he said.
David, an engineer at a construction firm here, said he was attracted to work in Saudi Arabia because the country does not collect taxes and expatriates are free to remit money to their home countries. “However, banks in the Kingdom have lately introduced some restrictions on remittances. Expatriates are asked to produce a letter from their company if the remittance amount exceeds their limit,” he said.
Policy-makers in the Kingdom should take into account the concerns of expatriate workers since the proposed ceiling would have direct consequences on the economic development of the country, he said. __


Clic here to read the story from its source.