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FINANCIAL NEWS
Green card system to boost Saudi Arabia economy
17 Apr 2016
(MENAFN) Green card system in the Kingdom will produce almost USD 10bn annually via reduced payments and other sources.
Moreover, the plan will end the existing sponsorship system for holders, who will be needed to pay zakat and value-added tax.
Accordingly, the system will generate at least USD 10bn in revenues yearly, although the real situation will emerge after green cards are introduced.
In addition, the system will include many economic benefits like revenue through the green card fee, reducing payments and setting up for industries.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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