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UAE expats remit Dhs165bn in 2019

UAE expats remit Dhs165bn in 2019

Remittances are down 2.4per cent year-on-year

Expats from the UAE remitted Dhs165bn in 2019, according to figures released by the Central Bank of the United Arab Emirates.

Remittances for 2019 are down marginally by 2.4 per cent from the previous year’s total of Dhs169.2bn.

The majority of the remittances were sent to India, followed by Pakistan, Philippines, Egypt, UK and Bangladesh.

Read: Explainer: Understanding the GCC’s changing remittance market

There was a 1.8 per cent year-on-year increase in remittances in Q4 2019.

Of the total remitted in 2019 from the UAE, 15.6 per cent was transferred through banks and the rest via money exchange companies operating in the country.

Read: Revealed: Top 10 nations for remittances from the UAE

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