Tuesday 27 October 2020
 
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UAE expats' remittances total $21.67bn in H1

ABU DHABI, 26 days ago

Remittances by expatriates in the UAE amounted to AED79.6 billion ($21.67 billion) in the first half of 2020, according to figures released by the Central Bank of the United Arab Emirates.
 
These account for 48.2 percent of the total money transferred by foreign residents in the country during 2019, which amounted to AED165 billion. The first quarter saw the transfer of AED41.4 billion, while AED38.2 billion was remitted in the second quarter, said a Wam news agency report.
 
About 76 per cent of the money was transferred via money exchange companies operating in the country and the rest through banks. 
 
India was the top receiving country, followed by the Philippines, Pakistan, Bangladesh, Egypt, and the US, the report said.



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