Thursday 13 December 2018
 
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Remittance

Saudi Arabia denies move to impose fee on remittances

Saudi Arabia's Ministry of Finance has dismissed as baseless reports suggesting that the kingdom plans to impose charges on expatriates' remittances.   It reaffirmed its commitment to the free transfer of

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Expat remittances in UAE surge to $44.5bn in 2017

Expats remittances from the UAE amounted to Dh164.3 billion ($44.5 billion) during 2017, a growth of 2.2 per cent from Dh160.8 billion in 2016, a media report said. An amount of Dh121.66 billion was transferred through money excha

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Expats in UAE remit over $21bn during H1

The total value of remittances by foreign workers in the UAE reached some Dh78 billion ($21.2 billion) during the first half of 2017, representing 48.5 per cent of the total balance of payments in the country in 2016 of Dh160.8 billion.

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Ria Money Transfer launches GCC, India expansion

Ria Money Transfer, claimed to be the third largest money transfer company in the world and subsidiary of Euronet Worldwide, has announced its expansion and ramp-up in the GCC countries. The company has more than 50 key business p

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Campaign urges Bangladesh expats to use legal remittance options

UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand, has launched a new social awareness drive to encourage the use of legal channels for sending money home among the Bangladeshi expatriates in the UAE.

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Xpress Money’s Qatar business rises 20pc

Xpress Money, a global leading money transfer brand, saw a 20 per cent growth in its Qatar business in 2015 as compared to 2014. The growth trend continued into 2016 as well, with Xpress Money’s September 2016 remittance fig

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RakBank offers a 60-second remittance to India

UAE-based RakBank has expanded its remittance service, RakMoneyTransfer, offering a 60 seconds money transfer to India through a network of 26 major banks including Axis Bank, ICICI Bank and more. Not only is RakMoneyTransfer a tr

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Digital channels 'offer huge opportunity for remittance sector'

Mobile and digital channels offer a huge growth opportunity for international money transfer organisations (IMTOs) as the industry still remains still 94 per cent 'brick and mortar', an expert said. Digital channels provid

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UAE remittances to Egypt hit $1.83bn in 2015

Egypt received an estimated $19.7 billion in remittances from the world over in 2015, of which $1.83 billion came from the UAE, according to remittance data of World Bank. Meanwhile, Jordan received $3.8 billion from countries acr

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UAE Exchange sees 6pc remittance growth in Q1

UAE Exchange, a top remittance solutions provider, has announced a six per cent year-on-year growth in its remittance transactions to the Arab corridor in the first quarter (Q1) of 2016. The company has also posted rise in remitta

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