Oman


Expat remittances in Oman increase by 12.6 per cent: Central Bank of Oman


File photo: Shabin E/Times of Oman

Muscat: Remittances from the expatriate community in Oman stood at OMR 3.502 billion in 2013, compared to OMR 3.109 in 2012,  an increase of 12.6 per cent, according to a report by the Central Bank of Oman (CBO).

The report detailed the size of the remittances over the past five years as OMR 13,621 billion, US$35,414bn, including OMR 2.04bn in 2009 , OMR 2.193bn, in 2010, OMR 2.774bn in 2011, OMR 3.109bn in 2012 and OMR 3.502bn in 2013.     

The report attributes the rise to the increase in the number of the expat workers in the private sector, some 1,527,000 workers in 2013 compared to 1,316,000 in 2012.

Apart from remittances by migrant workers, who are mostly working in the private sector, the report also takes into account outflows from expats employed in the public sector.

The report attributes also to the steep increase in the number of the expats working in the private sector to the high demand for them in different economic sectors, mostly the construction sector.

The figures come as officials plan the next phase of the government labour programme which includes the enforcement if new regulations to curb hidden ownership in businesses and monitor those who lay off workers.

Sheikh Abdullah bin Nasser Al Bakri, Minister of Manpower, recently said that the government will stand alongside Omani entrepreneurs who run their own businesses, rather than having expats as the actual managers.

To get in touch: fahad@timesofoman.com

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