Thursday 22 October 2020 - 2:24:26 am

Expats' remittances amounted to AED79.6 bn in H1-2020


ABU DHABI, 29th September, 2020 (WAM) -- Expats' remittances from the UAE amounted to AED79.6 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 AED165 bn Q1 saw the transfer of AED41.4 bn while AED38.2 bn was remitted in the second quarter, with 76 pct the total transferred via money exchange companies operating in the country and the rest through banks 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.

WAM/Hatem Mohamed/Hassan Bashir