The Saudi Ministry of Finance re-confirmed on Monday its abidance to the free transfer of capital, including expatriate remittances, provided it is done through the recognized legal channels and in accordance with the established world class standards and practices.
“This will bolster investor trust in the Kingdom’s economy and financial system and contribute to its economic development as part of its Vision 2030,” the ministry continued in a statement.
It released the statement in response to baseless and unfounded reports by some media outlets.
The ministry had previously denied such rumors.
On January 2017, it denied any move to impose such charges on expatriate remittances.
