Saudi Arabia Expatriates Bank account update by SAMA clarifies about the bank accounts freeze situation. The Saudi Arabian Monetary Authority (SAMA) denied the rumours spread on the media. The rumour said that expatriates living in Saudi Arabia would face account freeze if the financial transaction is more than their wages. More details below.
Saudi Arabia Expatriates Bank account freeze update by SAMA
The financial institutions and banks continue to work according to the rules and procedures. There is no change in the money transfer which was spread on social media and some other media news channels. The Authority has denied issuing any directives to banks for such actions and the news is baseless.
The news comes as the coronavirus pandemic has left employees and expatriates around the world worried about job stability and the effect the outbreak will have on the global economy.Al Arabiya, 2020
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