Middle East Economic Survey

VOL. LIV

No 7

14-Feb-2011

SAUDI ARABIA

Saudi Remittances Seen To Rise 22.6% In 1H10, Says SAMA

Remittances sent abroad over the first half of 2010 amounted to a total of SR58.6bn ($15.6bn), up 22.6% from SR47.8bn ($12.7bn) in the first half of 2009, the Saudi Arabian Monetary Agency (SAMA) reported on 5February. A breakdown revealed that during the first quarter of 2010, total remittances by Saudi-based expatriates stood at around SR28.3bn ($7.5bn), rising to a...