Businesses and individuals worldwide send money to Saudi Arabia for Hajj and Umrah, as well as for business-related transactions such as importing and exporting goods. However, remitting funds to Saudi Arabia has been challenging for many businesses due to international transaction fees and unfavourable FX rates when buying SAR.
The United Kingdom is the third-largest source of remittance to Saudi Arabia, accounting for over 5% of total remittance inflows. To assist businesses in the UK with the process of sending funds to Saudi Arabia, we have created a comprehensive guide that explains the various methods and services available.
SAR is the currency used in Saudi Arabia. When transferring money from the UK, GBP is converted to SAR.
