Saudi Arabia overtakes UK in remittances

Central Bank of Kenya. FILE PHOTO | NMG

Saudi Arabia has overtaken the United Kingdom to become the second largest source of diaspora remittances, underlining the growing queue of jobless Kenyans migrating to the oil-rich Gulf nation.

Cash sent by Kenyans from the Arab world’s largest economy amounted to nearly $27.12 million (Sh3.28 billion) in September, a 63 percent jump from the $16.61 million (Sh2.01 billion) a year ago.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.