Remittance must not exceed sender’s income

Updated 31 July 2016
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Remittance must not exceed sender’s income

JEDDAH: A new mechanism is being planned that would compare remittances with the senders’ incomes.
The first of its kind project is the brainchild of the Finance Ministry, the Saudi Arabian Monetary Agency and other relevant bodies.
It aims to control the transfers as authorities detected that thousands of foreign workers transfer amounts that exceed their incomes. These incomes might be the result of concealed, even criminal, actions, said sources.
They said the new regulation, now under consideration, will be launched soon and will contribute to limiting labor market irregularities and violations that increase the illegal income of expatriates.
Any income obtained by foreign workers will be linked with banks, without exception, through a unified network.


Thousands attend Saudi Arabia’s 11th Honey Festival

Updated 18 min 53 sec ago
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Thousands attend Saudi Arabia’s 11th Honey Festival

JEDDAH: Visitors flocked to Saudi Arabia’s 11th International Honey Festival in the southwestern region of Baha.
The attendees and participants praised the festival’s events and the variety of honey products featured at the exhibition.
The exhibition also attracted visitors from outside the region, who were interested in participating in the festival.
Visitors, quoted by the Saudi Press Agency (SPA), described how they enjoyed all the exhibitions included in the festival, praising the success they had witnessed and the festival’s various attracting events.
The festival has greatly contributed to boosting local tourism.
The festival aims to help beekeepers promote their products in a professional manner and is also financially rewarding.
It also offers vacationers an opportunity to purchase honey from authentic sellers.
The festival is considered the most prominent for honey producers and apiarists in the Middle East.
It also falls in line with the Kingdom’s Vision 2030, which aims to propel Saudi Arabia as a main producer of honey both regionally and internationally.
It also aims to develop the industry for nutritional and medicinal purposes.