Saudi ArabiaMoney & BusinessExpats
Saudi: Huge expat remittances are a fallout of tasattur
Abdul Rahman Al-Hussein, spokesman of the Ministry of Commerce, has identified unfair practices in the market and transfer of huge amounts of money abroad by expatriates as among the major fallouts of commercial cover-up (tasattur).
Remittances of expatriates outside the Kingdom have reached SR150 billion.
There are provisions in the new law, which is part of the National Program to Combat Commercial Cover-up, to award stringent penalties to the violators, and that include fines of up to SR5 million and imprisonment for a period of up to five years.