Only 15.6% of Dh165bn expat remits via banks

By Eudore R. Chand

ABU DHABI 24 February 2020: Expats’ remittances from the UAE amounted to some Dh165 billion in 2019, according to figures released by the Central Bank of the United Arab Emirates.

Q4 of last year saw an increase of 1.8 percent over the comparable period in 2018.

Only 15.6% remittances were transferred through banks and the rest via money exchange companies operating in the country.

India took home the crown as the top-receiving country for earnings made by expats, followed by Pakistani beneficiaries, Filipinos, Egyptians, UK nationals and Bangladeshis, said Wam.