60% of Bangladeshi remittances are from KSA

ECONOMIC LIFELINE: Remittances from around 1.3 million Bangladeshi workers in the Kingdom stand at SR13 billion annually.
Updated 16 August 2016

60% of Bangladeshi remittances are from KSA

JEDDAH: An economic report revealed that 60 percent of Bangladeshi remittances comes from Saudi Arabia, according to the Bangladeshi Financial Express.
The report said lifting the ban on recruitment of Bangladeshi workers, of all types, has been long overdue for seven years.
It said the decision, which was made a year ago to allow domestic workers to return to the Kingdom, which was affirmed two months ago when King Salman met Bangladeshi Prime Minister Sheikh Hasina.
According to the report, the remittances are from around 1.3 million workers in the Kingdom, at SR13 billion annually. It said the Kingdom presents the most prominent facade to Bangladeshi working abroad. It added that restrictions on such workers to the Kingdom and the Gulf states since 2008, led to a decrease in remittances.
Saudi Arabia is working hard to make sure that the workers recruited are well-trained and qualified, and that more Bangladeshi workers of this caliber need to be provided. At present, more than 10 million expats work in the Kingdom from dozens of countries.


Saudi property fund branches begin reopening to public

Updated 03 June 2020

Saudi property fund branches begin reopening to public

  • Officials have urged citizens to communicate online
  • The REDF has been providing its services remotely during the lockdown period through 30 e-services on its website

RIYADH: Branches of the Saudi Real Estate Development Fund (REDF) have begun reopening to the public to deal with beneficiaries of the subsidized mortgage loan scheme.

However, officials have urged citizens to communicate online and only visit branches in person where absolutely necessary and after booking an appointment through the fund’s website, www.redf.gov.sa.

REDF spokesman, Hamoud Al-Osaimi, said: “The branches started gradually opening during the week to welcome citizens with prior bookings after making sure they are abiding by the preventive measures.

“Thirty-four branches have already been opened, while Makkah’s branch, along with Riyadh’s and Dammam’s women branches, will open on June 21.”

He stressed the importance of “respecting the preventive health measures such as wearing masks, washing and sterilizing hands, avoiding handshakes, and keeping a safe distance of two meters.”

Al-Osaimi added: “The services in the branches will be provided only when necessary and to those who have not completed their requests online. People should use the e-services to avoid visiting branches. REDF is keen to provide the services of the subsidized mortgage loan program electronically to ensure citizens’ safety.

“The branches’ employees will provide the necessary services while prioritizing social distancing. I ask citizens to adhere to the safety requirements and preventive measures adopted by the health authorities to preserve their safety.”

He pointed out that halls, reception, and administrative offices were being regularly sterilized.

The REDF has been providing its services remotely during the lockdown period through 30 e-services on its website. The beneficiaries care center (199088) and the fund’s social media platforms are also available to handle inquiries about the subsidized mortgage loan program and financing solutions.