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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. __


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