UAE expats sent Dh79.6 billion home in first half

Eudore R. Chand

ABU DHABI 1 October 2020: Expats remittances from the UAE amounted to Dh79.6 billion in H1-2020, 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 totaled Dh165bn.

Q1 saw the transfer of Dh41.4bn while Dh38.2bn was remitted in the second quarter, with 76% the total transferred via money exchange companies operating in the country and the rest through banks, said Wam.

India took home the crown as the top-receiving country for earnings made by expats, followed by the Philippines, Pakistan, Bangladesh, Egypt, and the US.

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Dubai Gazette