A new wages database in Oman will monitor and stamp out “black market” money leaving the country, Times of Oman has reported citing the manpower minister.
The project will keep tabs on how much a worker earns every month compared to how much they send back to their home countries.
Cases where the workers are sending home far higher amounts each month than they are legally entitled to earn will be probed.
According to a Shura member, cross-border remittance of money earned in the black market is harming Oman’s economy.
“The huge amount of money spent on overseas remittance is negatively affecting the Sultanate,” Nasser Al Khamisi said.
“They are wasted investment opportunities for Oman. It absorbs the country’s wealth as it makes a big chunk of the Oman budget,” the Shura member said, describing overseas remittance as “hidden cancer to the economy.”
There were 1,845,384 expatriate workers recorded in Oman by November 2016, according to the National Centre for Statistics and Information, the majority of them working in the private sector.
Statistics show that Bangladeshis are the biggest expat labour community in Oman, accounting for 694,499 followed by Indians with 691,775.