Saudi with SR 1 billion assets earn only SR 4,000 a month

According to Abdul Malik Bin Sufyan, who is currently the head of the anti-commercial cover-up team in Saudi Arabia some Saudis have assets worth SR 1,000 million under their names but they earn only SR 4,000 a month.

A commercial coverup or Tasattur is an arrangement where the business is owned by a Saudi only for documentation purposes but the actual owner of the business is an expat. He pays a certain sum of money to the Saudi to use his name.

Abdul Malik Bin Sufyan stated while conducting a workshop that they have found some coverup businesses where the Saudi owner legally owns assets worth SR 1 billion but the expat pays him only SR 4,000 a month. This cannot be justified in any way.

Source: Saudi Gazette

For the latest updates, you can join our WhatsApp group or Telegram Channel.

Never pay the full price, download Saudi Coupon Codes application and get all discount codes in one place.

Steve has been living in Saudi Arabia since 2013 and writing about Saudi rules, regulations, guides, and procedures since then.