Oman places new restrictions on remittances
Oman has announced new restrictions on sending money through exchange houses. Customers must now declare the source of their funding if the amount to be remitted is greater than their salary, or greater than OMR400 (USD 1,040). The move is intended to reduce fraud, as well as to detect those performing work outside of their official contracts. The new requirements will come into force on Mach 22, 2018.
The move seems to confirm suspicions that the Wage Protection System, which ostensibly ensures workers are paid fully and in due time, is ultimately designed to track worker's finances.
The new policy comes following years-long concerns of 'lost investments' through Oman's black market, and of remittances in general.