Home / Oman / Expatriate Remittances being Checked by MOM Oman

Expatriate Remittances being Checked by MOM Oman

Oman will now regularly maintain database of monthly wages and remittance going out of Oman. According to Minister of Manpower a new system will be implemented in Oman to take down the Black Market currency is leaving Oman, This project checks the income of expatriates its monthly salary and compare them with previous records as well as their remittances.

Image Source

If there is any suspicious changes in Income of expat such as sending of higher amount each month as compare to their monthly wage than he will be probed.

Money earn through illegal ways such as smuggling which is than going out of Oman is harming economy.

Shura member questioned the remittance from Oman higher than the salaries of workers which results in negative impact on sultanate economy.

 

Oman annual remittances are almost OMR 4 billion Shura member considered the remittances as Hidden Cancer to the economy reducing investment opportunities as well as consuming the big part of budget.

Ministry of Manpower and Central Bank of Oman launched the new wage protection system in which government can examined the wages of Omani citizens and expatriates. Companies cannot able to recruit employee unless they show their Bank Statements.

The issue is linked with Black Market, the topic is in discussion for many years after than we take the example of our neighbor country and launched the committee with the cooperation of CBO Sheikh Abdullah bin Nasser Al Bakri, Minister of Manpower said.
Must Join Oman Expatriates Community 

SOURCE timesofoman.com/article/100800/Oman/Wages-database-to-monitor-remittances-of-expats-in-Oman

Secured By miniOrange