Expats’ Remittances Amount To Kd 4.2 Billion

Expatriate remittances are in focus again as the head of the Parliamentary Human Resources Development Committee MP Khalil Al-Saleh called for the approval of imposing fees on remittances of expatriates, reported Al Rai daily. He made a proposal and followed it in the relevant parliamentary committees, until it was included in the agenda of the National Assembly sessions.

He revealed that the value of expats’ remittances in Kuwait, according to the statistics of the Central Bank, amounted to about KD4.2 billion dinars in one year, Al-Saleh revealed to Al-Rai.

He explained that it was worth imposing fees on remittances to improve state revenues and diversifying sources of income for the country. Al-Saleh added that “this system is in force and applied in the vast majority of countries in the world, and in more than one Gulf country, and expatriates in those countries did not oppose it” He added that remittance of these funds from the country is very dangerous, and has a direct impact on the economy.

He added, “We are not targeting the expatriates, because imposing fees on remittances will not have an impact on their money, and in return it has a positive return on the state’s resources.” He noted that it has become a necessity after the growing amounts that are transferred outside Kuwait has reached KD4.2 billion annually, and the state receives no benefit from that.

 

SOURCE : TIMESKUWAIT

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